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Medine has achieved outstanding financial results for the fiscal year ending June 30, 2024, marking its third consecutive year of record performance. Total income reached MUR 5.5 billion, and EBITDA surged by 60% to MUR 1.5 billion, driven primarily by the company’s Property segment.
As a key economic player in the west of the island, Medine’s property revenue nearly doubled to MUR 3.8 billion, fueled by successful residential projects like Magenta Parkside, Oceanside, and the final units at Serenis. Their "Build and Lease" portfolio also expanded, with the Cascavelle Mall operating at full capacity and office occupancy rates at 83%. New tenants, including Mr. Bricolage, have contributed to the portfolio’s current value of MUR 4.8 billion.
In line with its updated 2024 master plan, Medine is committed to sustainable growth, with upcoming projects like the Cascavelle Mall extension, a new hospital, and The Grove residences at Pierrefonds. This vision is transforming western Mauritius into a vibrant hub for living, working, and leisure, solidifying Medine's role as a leader in the Mauritian real estate market.
Medine’s sustained growth highlights its vital role in the island's development, delivering innovative residential options, expanding its lease assets, and offering unique investment opportunities for both residents and investors.
