A new dimension in real estate
CBo Territoria's real estate activity reached a new dimension in 2015 following the delivery of the E.Leclerc shopping centre and the Retail Park of the Parc d'activité du Portail (22,200 m² of floorspace).
In line with the Group's strategy and the development plan for 2021 outlined in 2018, and as part of the stepped-up development of its real estate business, CBo Territoria's objective is to reach €400 million in investment properties by 2021. This includes the MEE shares, 3/4 of which will be made up of corporate in-vestment properties (as opposed to 2/3 in 2017).
Over this period, the development of the real estate business will be centred on three areas:
- Real estate development on existing and upcoming properties,
- Acquisition of commercial properties under VEFA,
- Acquisition of existing corporate investment properties.
In addition, the Group intends to prospect internationally, primarily in the Euro zone.
CBo Territoria plans to use two levers to self-finance these projects, without diluting its existing shareholder base:
- Cash generation through monetising €50 million of property development inventory as at 31 December 2017, and the sale of €50 million of Housing Investment Properties by the property company,
- Creating large-scale retail assets in partnership with first-rate operators, the results of which will be consolidated through the equity method.
- CBo Territoria's objective is to reach 10% of its assets in equity in MEE companies by the end of 2021, compared with 0.7% at the end of 2017.
Medium-term potential
In Sainte-Marie, the ACTIS Business Park is one of the only hous-ing estates offering ready-to-build plots of land for companies in the North of Réunion, close to the department's capital.
Located in an unrestricted area, the Business Park represents an opportunity for companies that cannot find a site in Saint-Denis or are not eligible for the airport's Export Zone and for the TechNor Technopole. Spread over a total area of 8 hectares historically owned and then developed and managed by CBo Territoria, the ACTIS Business Park is made up of 32 plots of land offering are-as ranging from 1,100 m² to 8,400 m², therefore meeting the di-verse demands of the region's VSEs and SMEs. Eventually, the site could accommodate up to 60,000 m² of floor space.
In the commercial real estate sector, the La Mare business district in Sainte-Marie and Savanna in Saint-Paul offer an additional po-tential of 14,000 m² in the corporate sector.
Within its business districts, CBo Territoria has developed its of-fering of coworking spaces: now covering the North (La Mare branch), the West (Savanna branch) and the South of the Island (Grand Bois branch), today LIZINE by CBo Territoria represents the first network of shared and co-working spaces of Reunion Is-land.
Go to the LIZINE by CBo Territoria
A key player in tourism development
CBo Territoria is involved in the Club Tourisme, which brings to-gether Réunion's tourism service providers and contributes to ini-tially develop small offers in micro-regions: the company plays a dynamic role working with local micro-service providers.
CBo Territoria owns the Beauséjour Sport Club in the North and the Bassin Bleu Golf Course in the West, which covers 60 hec-tares. It also has a dedicated land area of over 50 hectares for tourism projects in urban planning programs (SAR, PLU), as well as 200 hectares of non-buildable natural parks with high potential for outdoor, sports and leisure activities.
The company has already developed hiking and mountain bike trails around the Bassin Bleu Golf Course, including a 6 km flag-ship trail that offers views of the Route des Tamarins with its spectacular engineering structures, the surrounding savannah, the three water basins and the Moulin Kader, a vestige from a local choka rope braiding activity.
In 2015, the Group acquired the "Garden of Eden " operating company, a botanical garden based in the West of the island, much visited by tourists wishing to admire numerous indigenous species...