Ascencia: A 15-Year Journey of Retail Excellence in Mauritius
Ascencia, which celebrated its 15th anniversary in 2023, stands as a model of retail innovation. The company's commitment to shaping attractive, functional spaces has been a driving force behind its growth and popularity. Ascencia's dedication to quality assets and unique customer experiences has always been especially pronounced, reflecting a deep-seated belief in creating memorable moments that bring people together.
Ascencia’s bold adventure in the real estate sector
In 2008, Ascencia started a bold adventure in the real estate sector. This dream evolved into a remarkable journey, transforming the commercial real estate landscape and making a lasting impact on Mauritius's vibrant community.
The seven malls of Ascencia, featuring more than 500 shops, 7 anchor supermarkets, and various entertainment choices, stand out as dynamic shopping destinations. They prioritise ease of access, safety, comfort, and an engaging experience for both visitors and retailers.
In 2021, Ascencia made its debut on the official market of the Stock Exchange of Mauritius (SEM), securing a prestigious position within the Top-10 list of the SEM. With a Market Capitalisation standing at Rs9.2 bn as at 31 December 2023, Ascencia is the biggest player in the commercial retail sector on the island.
Driving Economic Growth and Fostering Employment in Mauritius
Ascencia's impact in Mauritius goes beyond its physical buildings. The company has been key in driving economic growth, creating over 4,000 jobs by welcoming both local and international brands such as Decathlon, Kiabi, Lacoste, Promod, Boss, GIFI, and Conforama. This has greatly improved the island's retail environment by attracting more foreign investment to Mauritius. In 2022, Ascencia introduced a new concept at Phoenix Mall Station, with the integration of a metro station to the mall, signalling a shift towards a more modern shopping experience.
Resilient Investments Amidst Challenges
In the face of COVID-19, inflation, and rising construction costs, Ascencia invested over Rs 2bn in enhancing its assets, showcasing resilience and prudence. This strategic investment focused on attracting new tenants and enriching the customer journey, ensuring that their malls remained top choices for both retailers and visitors.
Revamping and Innovating Retail Spaces
Ascencia's portfolio boasts several success stories, including the transformation of Bagatelle Mall’s food court and the introduction of renowned brands. The company's partnership with Metro Express significantly increased Phoenix Mall's accessibility, leading to a notable rise in visitor numbers. Additionally, plans for rebranding and enhancing other mall spaces demonstrate Ascencia's ongoing commitment to innovation.
Sustainable Practices for a Greener Future
Ascencia has prioritised sustainability, adopting energy-efficient solutions and waste management strategies. The company adopts eco-friendly management methods and cleaner technologies. Its position on the Stock Exchange of Mauritius Sustainability Index (SEMSI) shows its commitment to being sustainable in economic, environmental, social, and governance aspects. The company compares its electricity and water use to global standards and includes these sustainability goals in the lease agreements of their tenants.
Big investments across the malls’ portfolio, like the use of solar farms, now produce over 25% of their total electricity needs. Moreover, a recycling system has been implemented across the seven malls, leading to recycling 45% of the malls’ waste, reducing landfill use.
Learn more about Ascencia’s Sustainable Actions
Financial Resilience and Shareholder Value
Despite economic pressures, Ascencia achieved substantial financial growth. The company saw an increase in trading densities, and rental income sustainability, and delivered impressive dividends to shareholders. This financial resilience underpins Ascencia's stability and commitment to long-term success.
Embracing the Future with Confidence
Despite the challenges of global inflation and economic pressures, Ascencia remains committed to its core values of resilience, flexibility, and customer focus. This strategic direction ensures that Ascencia is well-prepared to navigate future challenges and seize new opportunities.
In conclusion, Ascencia's journey over the past 15 years is a testament to its robust business model and forward-thinking strategies. The company's dedication to creating singular retail places, financial stability, and commitment to sustainability set the stage for continued success and growth in the years to come.
