Ascencia: a Strategic Real Estate Pillar of ER Group in Mauritius
In 2025, Mauritius entered a new corporate era with the formation of ER Group, a powerful organisation born from the strategic merger of the ENL and Rogers Groups. With over 200 years of ENL’s history and 125 years of Rogers’ contribution to the nation, ER Group stands today as a consolidated force shaped by more than two centuries of impact, innovation, and leadership. Listed on the official stock market, the Group has long played a central role in shaping the economic and social development of Mauritius and continues to do so with renewed ambition.
Bringing together over 7,200 employees and operating across 13 territories worldwide, ER Group spans seven key business segments: Agribusiness, Real Estate, Hospitality & Travel, Logistics, Finance, Commerce & Manufacturing, and Technology & Energy.
Proudly Mauritian, ER maintains a clear mission: to contribute to the country’s progress while expanding its presence across markets it knows best and sharing its expertise beyond its shores.
Within this strengthened structure, Ascencia stands as one of the key drivers of the Group’s Real Estate segment.
Ascencia: Leading Shopping Mall Investment Company
Ascencia is the leading property investment company in Mauritius, owning shopping malls that shape vibrant and connected communities.
Listed on the Stock Exchange of Mauritius, Ascencia holds a high-quality portfolio of retail assets across the island including the country’s most prominent malls: Bagatelle Mall, Phoenix Mall, Riche Terre Mall, Bo’Valon Mall, So’flo, Kendra and Les Allées.
Through visionary development and active asset management through its partner EnAtt, Ascencia continually redefines the retail experience. Its malls are more than commercial spaces, they are dynamic lifestyle destinations offering retail, dining, leisure, entertainment, and meaningful community experiences under one roof.
Expanding the Eastern Retail Landscape in Mauritius
In addition to operating its established malls, Ascencia is expanding its footprint through strategic developments in high-growth regions, particularly the East of Mauritius. Two key projects are underway:
- Mall de Flacq
- Bel Air
These developments are being carried out in partnership with Alteo, a major regional stakeholder whose vision is to make the East “an everlasting place to grow.”
This joint venture combines:
- Ascencia’s retail expertise
- Alteo’s deep regional roots
to deliver a modern retail and social hub designed around the evolving needs of eastern communities. Together, they bring a new standard of accessibility, convenience, and lifestyle solutions to this rapidly developing region.
A Strategy Rooted in Performance, ESG and Innovation
Ascencia’s long-term strategy balances commercial performance with strong stakeholder value creation. The company places growing emphasis on ESG principles, digital transformation and customer-centric innovation.
These strategic levers enable Ascencia to remain agile and future-ready within a fast-evolving retail landscape in Mauritius. Guided by strong governance and an experienced team, the company has built a proven track record of sustainable growth and best-in-class mall operations. Ascencia continues to create ripple effects, shaping singular places where people, brands, and businesses thrive.
ER Group Values: The Ground on Which We Stand
Responsibility. Agility. Collaboration.
These three values define how ER Group operates across its seven business sectors and 13 territories worldwide. These values are indeed the pillars on which ER Group supports its subsidiaries including Ascencia, enabling them to grow with confidence and clarity.
- Responsibility: We act with purpose, take ownership, and deliver impactful results.
- Agility: We anticipate change, adapt, and act swiftly
- Collaboration: We value our diversity, nurture relationships, and work together for shared success
Ascencia’s Values: Anchored in Learning, Driven by Care
Ascencia’s core value: Achieving results through Learning and Caring, reflects the company’s human-centred approach to real estate and retail.
- Learning is embedded in the company’s DNA. It fuels innovation, guides its digital transformation, and sharpens its capabilities as a leading mall operator. Learning allows Ascencia to anticipate consumer needs, design new experiences, and continually elevate its retail offer.
- Caring shapes how Ascencia builds its malls, as spaces designed for people first. It influences the way the company collaborates with retailers, supports local communities, and promotes inclusive and meaningful lifestyle destinations. Caring also extends to sustainability, responsible development, and the wellbeing of its teams.
Together, learning and caring create a culture where performance is the outcome of curiosity, empathy, and purpose. While ER Group and Ascencia have distinct value sets, their philosophies intertwine seamlessly. This alignment creates a shared culture where innovation thrives, customer needs come first, and long-term impact matters just as much as results.
Our Contributions to A Sustainable Society
Enabled by a Powerful Framework
ER Group’s four strategic enablers: Customer Centricity, Sustainability, Operational Excellence, and People & Culture further empower Ascencia to activate its values in tangible ways.
They ensure that every strategic choice, development, and mall experience is guided by:
- an understanding of customer needs,
- a commitment to responsible growth,
- a drive for efficiency and excellence,
- and an investment in people as the greatest asset.
These enablers make values actionable, measurable, and meaningful.
Values that shape Places, People, and Possibilities in Mauritius
Together, ER Group and Ascencia share more than a corporate relationship; they share a culture of ambition and care that shapes the spaces they build, the people they empower, and the communities they serve in Mauritius.
