The MIC acquires Mon Trésor Smart City

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The Mauritius Investment Company (MIC) has acquired the entire Mon Trésor Smart City project comprising, among other things, 282.95 arpents of residential and agricultural land in Plaine-Magnien and Britannia as well as buildings for the sum of Rs 4.45 billion.

Through this transaction, the MIC, a subsidiary of the Bank of Mauritius, bought 100% of the shares held by Omnicane in Mon Trésor Smart City Ltd, amounting to Rs 2.4 billion.

In addition to these actions, the MIC also acquired 178.08 acres of agricultural land in Britannia and 42.49 acres of agricultural land in Plaine-Magnien for Rs 2,037 million. In total, the MIC, therefore, becomes the owner of 503.52 arpents of land. Prior to this transaction, Omnicane owned 3,000 hectares or 7,423 acres of land.

"Due to a lack of visibility due to the Covid-19 pandemic, it had been decided to suspend all residential developments within the Mon Trésor Smart City ", explain Harold Mayer and Jacques d’Unienville, respectively president and director of Omnicane, to their shareholders, in a circular dated February 11, 2022.