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In an exclusive interview with marcopolis.net, a leading international press and communications agency, on Wednesday, 12 March, Nicolas Vaudin, Managing Director of Lavastone Properties, revealed the company's ambitious plans to reshape its investment portfolio by embracing industrial real estate.
"The market is evolving, and so must we," Vaudin explained as he outlined how Lavastone aims to reduce its office space holdings from over 33% to approximately 25% of their total portfolio. "It's about balance and foresight in uncertain times."
Walking the talk, Lavastone has already acquired two industrial properties in Coromandel and Riche Terre during the 2024 financial year. These calculated acquisitions, worth Rs 240 million, are already paying off, contributing a healthy 6.2% to the company's rental income.
The shift isn't merely reactive. With Mauritius experiencing an oversupply of office space, Vaudin and his team are targeting specific growth sectors – from logistics centers and warehousing facilities for major wholesalers to infrastructure supporting supply chain operations.
Despite challenging economic conditions, Lavastone posted impressive 2024 figures with revenue of Rs 396 million, representing 29.6% growth compared to the previous year. The company's property assets are now valued at Rs 4.5 billion, with total assets reaching Rs 5.1 billion.
Beyond industrial properties, Lavastone continues to diversify with projects like Sunrise Attitude, a hotel development on Mauritius's East Coast, and C Rodrigues in Mourouk, both contributing significantly to their revenue growth.
Looking ahead to mid-2025, Lavastone's industrial property acquisition targets are already creating buzz among industry watchers. The strategy marks a clear departure from conventional investment patterns. Property analysts view this industrial pivot as potentially trend-setting. Market conditions have shifted dramatically since 2023. While competitors scramble to adapt, Lavastone appears to be several steps ahead. For investors seeking stability in uncertain times, the company's industrial strategy offers a compelling roadmap worth following.
