Property CLuster

   Financials - January 23, 2019

The Property Cluster oversees the commercial and/or industrial real estate, including land, commercial space and plantation across various locations. It typically involves the managing of property that is owned by the subsidiaries of SIC. The Senior Investment Executive acts on behalf of the subsidiaries to preserve the value of the property while generating income.

Furthermore, the Property Cluster involves the processes, systems, and manpower required to manage the life cycle of all acquired property as defined above including acquisition, control, accountability, responsibility, maintenance, utilization, and disposition.

The Senior Investment Executive must keep the property in safe and habitable condition and is also responsible for the physical management of the property, including regular maintenance and emergency repairs. It also includes managing of accounts and finances of the Real Estate properties.

In addition, work such as constructions, land surveys and land valuation conducted by contractors, land valuers and land surveyors must be vet/inspected to make sure it is up to standards and that they are completing their work in a timely manner.

Objectives of the Property Cluster

The primary objective is to generate sustainable returns, while simultaneously providing strategical direction and technical expertise to investee firms on various aspects. SIC aims to contribute positively towards the growth and development of the real-estate sector in Mauritius.

The number one objective is to keep the properties leased and occupied.

The property cluster is structured in a manner that adopts the transparency of operations. The cluster intends to establish itself as a credible, trustworthy, and reliable real-estate investment body.

The cluster strives to deploy its expertise to improve, develop, and expand the real-estate potential in Mauritius.

The cluster aims to make the most of its resources by routinely collaborating and partnering with different corporate entities that can contribute to a variety of different ways.