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  CBO TERRITORIA company press release from 19/10/2021

  19/10/2021 - 07:45

CBo TERRITORIA : LAUNCH OF WORK FOR A NEW SET OF COMMERCIAL ASSETS IN COMBANI, MAYOTTE


Launch of work for a new set of commercial assets in Combani, Mayotte

  • A first investment of €23 million for 72,118 sq ft of leasable area
  • More than 75% of space commited with Carrefour, Mr. Bricolage, C'TAM and Distrimax
  • Delivery : 2nd half of 2023

CBo Territoria has announced the start of construction of a shopping center in Combani, Mayotte, for a total investment of €23 million. Commercial leases were signed with CARREFOUR, Mr.BRICOLAGE, C'TAM and DISTRIMAX.

The delivery of the shopping center is scheduled for the 2nd half of 2023. The completion of the site's preparation and the construction work have been assigned to the COLAS group.

This large-scale operation is fully in line with the Group's strategy to increase its ownership of tertiary assets.

The creation of the equipment is financed by the Banque des Territoires and the Agence Française de Développement (French Development Agency, AFD), in equal shares.

Marketed to date at 79% of the total surface area, the commercial package will include:

  • A shopping center of 61,354 sq ft net usable area, including:

A Carrefour supermarket on 20,667 sq ft

A Mr. Bricolage store on 12,917 sq ft

A C'TAM personal and home equipment business on 12,917 sq ft

A shopping gallery of 17 shops on 15,069 sq ft

  • A sales counter and its 10,280 sq ft of warehouse for the Cananga group, under the Distrimax brand

Located in the town of Combani, the future equipment will benefit from a strategic central position on the island. At the crossroads of departmental roads linking the North, South and West of the territory, the new center satisfies the need of commercial equipment in the area. 

In continuity with the shopping center, CBo Territoria also owns 215,278 sq ft of land, which has been granted a development permit and on which real estate projects in the Land and Promotion sectors will be developed, in particular to meet the needs of local institutional stakeholders.

Mayotte, French department since 2011, supported by a government plan of €1,3 billion, is a territory well known by CBo Territoria. In 2016, the Group acquired a commercial asset of 24,757 sq ft, that houses the C'TAM brand of the Cananga Group, a historical partner of CBo Territoria in Mayotte. In 2018, CBo Territoria created Kinga, the largest Mahorese Business Center, with an area of 146,389 sq ft, of which 108 716 sq ft were sold in Real Estate Development and 405 520 sq ft are retained as tertiary assets by the Group and are fully leased to institutional players.

« The commitment of leading brands in the operation of this new commercial complex reflects our confidence in the development of this flagship project for the French department of Mayotte. We welcome our partnership with the company Colas and our financiers Banque des Territoires and Agence Française de Développement (French Development Agency, AFD) on this iconic project» says Eric Wuillai, CEO of CBo Territoria.

About CBo Territoria

Leading property developer and planner in Reunion Island and Mayotte, CBo Territoria is a real estate operator listed on Euronext C (FR0010193979, CBOT), and eligible for the PEA PME (Leveraged Share Savings Plan for the SME).

The Group has been in the Top 10 (compartment C) of the Gaïa Index for 5 years for its ESG approach and relies on best practices for its governance.

Owner of 2950 hectares, the Group aims mostly to become a multi-regional Tertiary Property company, whose development is co-funded by its promotional activity.

www.cboterritoria.com

Contacts

INVESTOR RELATIONS TEAM
Caroline Clapier
Administrative and Financial Manager
direction@cboterritoria.com
PARIS MEDIA RELATIONS TEAM
dmorin@capvalue.fr
REUNION MEDIA RELATIONS TEAM
Catherine Galatoire
06 92 65 65 79
cgalatoire@cboterritoria.com

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  Original Source: CBO TERRITORIA