Mauritius | Infrastructure

February 28, 2013

Crisis Forces: Le Caudan Puts Phase 3 Pilot

Circumstances do not exist to invest heavily in the third phase of the Caudan Waterfront. His leadership has decided to put the project on hold, waiting for better times.

Le Caudan Waterfront was to start its third phase immediately work to roundabout Caudan completed. However, due to the crisis, the project was put on hold for a period yet to be determined. The project no longer appears in the balance sheet Promotion & Development Ltd., the majority shareholder of the Caudan Waterfront.

For the moment, it will simply renovating the "food court", whose work will be this year. There should be the creation of a new location to house a supermarket and other shops devoted to everyday products.

"The third phase has been put on hold, but it is in our plans, as well as the fourth and final phase of development of the Caudan Waterfront. We actually started to talk, but after we said we were not going to do at the moment, "says Aradhna Boodhoo, Laumond, Communications Coordinator at Caudan Waterfront.

A priori, the beginning of this new phase will not be this year or next year. "We have to adapt to certain parameters. We initially expected the end of the long work of Caudan roundabout. Then there was the economic crisis, "she adds. To this must be added the opening of various commercial complexes, including Bagatelle Cascavelle or La Croisette, just to name a few.

Lately, it has felt somewhat at dating, even if the Caudan Waterfront, explains that it is mainly road works which are the main causes. Annual attendance however remains around three to four million visits. "Attendance is normal, but consumption has declined," says Aradhna Boodhoo-Laumond. Tourists, who constitute a large part of the clientele of the mall are closer to their sub before, as Mauritians who spend, too, less than before.

Regarding the fourth phase, in particular relating to residential development, it has naturally been postponed until later.

On the other side of the esplanade in front of the Place d'Armes, we do not share exactly the same views on developments. Port-Louis Waterfront, owned State Property Development Company (SPDC), we think it is time to develop the site. "We are awaiting approval from the Ministry of Finance to move forward with our second phase. It is hoped to launch a tender soon to find investors, "said Richard Duval, President of the SPDC. "We must convince people to come back," he argues. Since the creation of Port-Louis Waterfront with its Astrolab small shopping center a dozen shops and a few restaurants in 1998, the place was virtually unchanged.

Also, attendance has declined over the years and some stores have decided to move to new shopping complexes that are more likely to attract potential customers. "We must innovate and renovate. There was no choice, "said Richard Duval.

The SPDC also wants to implement the Mahebourg Waterfront. Shelved for several years, this project, hopefully we the SPDC will come in a not too distant future.

 

 

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