5 September 2011

ENL Land of Mauritius Unit, Atterbury to Build $80 Million Mall in Zambia

ENL Property, a unit of Mauritian company ENL Land Ltd. (SAVA), plans to build an $80 million shopping mall in Zambia as it expands in sub-Saharan Africa, Chief Executive Officer Gilbert Espitalier-Noel said.
The 25,000 square-meter (269,000 square-foot) project will be developed in Lusaka, Zambia’s capital, with South Africa’s Atterbury Investment Holdings, Espitalier-Noel told reporters today in Ebene, south of the capital, Port Louis.
ENL Property’s current developments total 20 billion rupees ($711.7 million), including residential projects and shopping malls. ENL and Atterbury’s first project is the 3.5 billion- rupee Mall of Mauritius at Bagatelle, a 42,000 square-meter development due to open on Sept. 29, it said.
The Zambian project is a stepping stone in Africa and part of the company’s “logical expansion” as it prospects other sub-Saharan countries such as Tanzania and Mozambique, Espitalier-Noel said.
To contact the reporter on this story: Kamlesh Bhuckory in Port Louis via Johannesburg at 1933 or gbell16@bloomberg.net

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