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The Medine Group has committed Rs 2.6 billion to triple the size of its Cascavelle Shopping Mall. The Chairman Yvan Legris shared this ambitious vision at the Analyst Meeting held a few days ago at the Caudan Arts Centre. The expansion will add 19,500 square metres of retail space featuring 66 new outlets, with doors opening by the end of 2025.
The development includes 1,200 additional parking spaces to accommodate growing visitor numbers. The new wing will connect the existing building to the West Coast International School, reinforcing Cascavelle's position as the beating heart of western Mauritius's emerging Smart City.
Build and Lease Shows Strength
The Build and Lease cluster has delivered impressive results with Rs 474 million in revenue and Rs 308 million in EBITDA. The total real estate segment generated Rs 1.03 billion in revenue for the year ending June 30, 2025. These figures highlight the property division's pivotal role in the group's diversified operations.
Pierrefonds Transforms Residential Landscape
The Medine Group received environmental approval in June 2025 for the Pierrefonds development. This 300-acre project represents the largest residential morcellement Mauritius has ever seen.
The subdivision encompasses 1,789 residential plots and 72 mixed-use plots spread across 125 hectares. More than 1,400 lots will begin generating substantial revenue from 2026 onwards. The development features modern infrastructure including underground utilities and comprehensive stormwater drainage systems.
Healthcare Adds New Dimension
A new private hospital will open its doors in 2026 near the expanded Cascavelle mall. This healthcare facility broadens the group's property portfolio beyond traditional residential and commercial offerings.
Solid Group Performance
The Medine Group reported overall revenue of Rs 3.4 billion with EBITDA of Rs 689 million. The Board confirmed a final dividend of Rs 1.30 per ordinary share, payable on November 4, 2025.
*EBITDA stands for Earnings Before Interest, Taxes, Depreciation and Amortisation, which measures a company's operational profitability
