The Property Investment Company Limited (CIL), an investment company of the Currimjee Real Estate (CRE) cluster, has recently completed the acquisition of Quay 11, a commercial property located in Port Louis opposite the Paille-en-Queue Court.
Continuing its strategy of repositioning as a high-yield asset owner, this new acquisition adds to the portfolio of assets which previously included the Arcades Currimjee, Phoenix Central, Emtel World Property, a Data Center, as well as mixed-use buildings in Curepipe and Rose-Hill.
By strengthening CIL’s portfolio through the acquisition of Quay 11, the company aims to diversify its assets geographically and strategically while prioritising sustainable development. It is with this goal in mind that CIL has also gone through the amalgamation of Multi Channel Retail Limited (MCR), a subsidiary under CRE’s responsibility. Indeed, CIL’s board of directors approved this abbreviated merger last November 10th.
Revealing that this key step is crucial to achieving growth objectives, Sanjiv Mihdidin, Chief Executive Officer of Currimjee Real Estate, states that “this acquisition and amalgamation will result in financial and operational efficiency gains through economies of scale, while spreading risks over a larger asset base, under the direct control of the company.”
Spanning 354 toises, Quay 11 is a commercial property located in the heart of Port Louis on President John Kennedy Street, in a prime business district with several significant buildings. Well served in terms of accessibility with bus and metro stations, Quay 11 is both trendy and dynamic, offering a wide range of gastronomic and commercial brands for all tastes, in a contemporary and welcoming atmosphere.
Indeed, Concret Bistro, Kens, Les Caprices de Gervais and Grace Snack offer a varied selection of delicious dishes to take away or enjoy on site, while the shops offer a range of brands such as Phydra, Wego, Phone Universe and Fashion Universe.
Source: Le Mauricien
