IOREC – Indian Ocean Real Estate Company
Established and registered in Mauritius in January 2009, IOREC is a property development company which was set up to operate primarily in the Indian Ocean Region. Born from a partnership between two conglomerates, GML, the number one company in Mauritius and the giant private equity group, Actis.
2013 promises to be another important year for IOREC as it will complete its flagship project Azuri, a leisure, residential and commercial development anchored by a 5* hotel and circa 300 residences. The market value for Azuri is USD 300 milion.
Importantly, IOREC continues to hold social responsibility in high regard, as such it obides to strict environmental norms such as LEED and HQE and endeavours to put the community at the centre of all its projects.
GML – Formerly Groupe Mon Loisir
• Since its inception, GML has experienced exponential growth. Spearheaded by two family holdings belonging to the Lagesse family (Mon Loisir Compagnie Ltée and Compagnie d’Investissement et de Développement Limitée -CIDL), the group comprises of companies engaged in various sectors of the economy and has a strong foothold in the Indian Ocean region.
• With its 300 subsidiaries and associated companies, GML ranks in first position of the “Top 100” mauritian companies and is also among the leading enterprises within the Indian Ocean.
• GML’s dynamism and responsiveness have enabled it to play a key role in regional development, merging the benefits of a country with a booming economy with partners of choice, like the Belgian brewery Unibra and recently, Actis, a british private equity investor.
• The turnover of the group exceeds MUR 26.9 billion as at June 30th 2011.
• About 15,000 people are employed by the companies within GML which contributes 4.6% of the GDP of Mauritius.
• As part of its corporate social responsibility actions towards the country and the mauritian society at large, the Group created in 2005 the Fondation Joseph Lagesse, in homage to the founding father of GML.
• This organisation aims at helping the more vulnerable people in society, through projects involving education (the priority of the Fondation), poverty alleviation and health promotion.
• Actis is a leading private equity investor working exclusively in emerging markets for nearly 60 years. It has raised US$7.3 billion in funds to date and boasts over 100 investment professionals in 10 offices throughout Africa, China, Latin America, South and South East Asia. In the last ten years, it has invested US$4.8 billion in businesses of emerging markets.
• Actis is committed to promoting the sustainable growth of the private sector in emerging markets. Its aim is to ensure that the capital it raises and manages makes a lasting, tangible and positive difference in the countries in which it operates by creating opportunity for the companies in which it invests as well as their stakeholders.
• Adjudged the best Private Equity Real Estate investment firm in Africa for the last 4 years by the Private Equity International magazine.
• Actis was voted African Private Equity Firm of the year 2011 by Private Equity International magazine for the fourth consecutive year.
• Actis has also been awarded Latin American Private Equity Firm of the Year 2010 by PEI, reflecting the three deals it executed in Brazil last year.