Promotion and Development Limited (PAD), established in Mauritius on August 23, 1984, operates as a publicly listed company with a strategic focus on investment in shares, property development, and associated services. As an associated company of Fincorp Investment Ltd., itself a subsidiary of MCB Group Limited, PAD plays a significant role in Mauritius’ economic landscape through its diverse investment portfolio and strategic partnerships.
Core Activities and Investment Strategy: PAD’s core activities revolve around prudent investments in shares and property development, aiming to capitalize on long-term capital growth opportunities. The company strategically maintains a substantial property bias in its investment portfolio, leveraging the enduring value and potential appreciation associated with real estate assets over time.
Strategic Holdings and Investments: PAD holds a controlling interest in Caudan Development Ltd., with an effective stake of 62.90%. Caudan Development is renowned for its flagship project, the Caudan Waterfront in Port Louis, which encompasses prime waterfront property housing a vibrant mix of retail, dining, entertainment, and office spaces. This strategic investment not only enhances PAD’s asset base but also contributes significantly to the economic vitality and tourism appeal of Mauritius’ capital city.
Strategic Partnerships and Development Initiatives: PAD collaborates with key stakeholders to drive sustainable development initiatives across Mauritius. Medine, for instance, has embarked on a comprehensive 20-year master plan (2005-2025) for the integrated development of its vast land bank spanning 3,000 hectares on the West Coast of Mauritius. This initiative aims to foster sustainable growth, environmental stewardship, and community engagement through responsible land use and infrastructure development.
Mauritius Freeport Development (MFD): Since 1995, MFD has operated under a 60-year Build-Operate-Transfer (BOT) agreement with the Mauritian government. This agreement enables MFD to develop and manage a designated area of 25 hectares within the freeport zone, supporting international trade, logistics, and industrial activities. The partnership underscores PAD’s commitment to facilitating economic diversification and enhancing Mauritius’ status as a regional hub for trade and commerce.
Long-Term Vision and Growth Potential: PAD represents an attractive investment opportunity with robust potential for long-term capital growth, particularly due to its strategic focus on property development and investments aligned with Mauritius’ economic priorities. By leveraging its strategic holdings, partnerships, and expertise in property development, PAD continues to strengthen its position as a key player in Mauritius’ investment landscape.
Through its diversified portfolio, strategic investments, and commitment to sustainable development, Promotion and Development Limited remains committed to enhancing shareholder value while contributing to the socio-economic development of Mauritius. By aligning with national development priorities and fostering strategic alliances, PAD exemplifies resilience and foresight in navigating the complexities of the global economy while driving sustainable growth locally.
