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In what could be called a masterclass in visionary property development, CIEL Group is revolutionizing Mauritius's real estate landscape. Guillaume Dalais, CEO of CIEL Properties, recently outlined the group's transformative real estate vision in Forbes Africa's "Mauritius 2025" special report published in April/May 2025. "We are unlocking value in real estate in Mauritius, ranging from industrial site regeneration with Evolis Properties to eco-conscious living and tourism projects in Ferney," Dalais explained.
The strategy is delivering results. CIEL Group posted a 17% increase in profit after tax, reaching MUR 5.0 billion for the year 2024, up from MUR 4.3 billion in 2023. The property cluster saw EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) improve to MUR 365M, boosted by strategic land sales at Ferney.
Breathing New Life into Legacy Assets
Evolis Properties represents CIEL's innovative approach to urban renewal with its MUR 1.8 billion portfolio of repurposed industrial properties. The crown jewel in this strategy is Nouvelle Usine, transformed from the former Floréal Knitwear factory into a vibrant mixed-use destination.
"Giving a second life to former industrial buildings while preserving their historical value is one of our main objectives through Evolis Properties," explains Guillaume Dalais. Located just 230 meters from the Floréal metro station, this pioneering urban rehabilitation project has created 1,100 jobs and hosts 51 businesses since its inception.
Olivier Laure, General Manager of Evolis Properties, emphasizes the deeper mission: "Regenerating a place is about giving it new meaning by creating opportunities, valorizing existing resources with a positive impact on the community." The renovation impressively reintegrated 4.6 tons of materials directly into the project and reduced energy consumption by 20% through natural ventilation.
Beyond Nouvelle Usine, Evolis Properties manages other significant assets including Ebene Skies, CIEL Group's headquarters, which offers "unparalleled views and a breath of fresh air from the hustle and bustle of Ebene Central."
Meanwhile, CIEL's investment in Alteo, described in their documentation as "the country's largest private landowner" with approximately 15,000 hectares of land, positions them strategically for future sustainable property development opportunities.
