On 1 December, the MaxCity Property Fund, a subsidiary of the MaxCity Group and a key player in the real estate sector in Mauritius, unveiled the new visual identity of one of the jewels of its portfolio, the 1CyberCity building located at the entrance to Ebène, which from now on will bear the name of One Exchange Square.
The MaxCity Property Fund describes the new name as strong and evocative, which keeps the spirit of avant-garde, connection and modernity. It mentions that the visual is refined, highlighting the white on a black background, as a symbol of strength, authenticity, maturity, ability to bounce back and renew itself while being anchored in the values of MaxCity Property Fund.
Commenting on the new identity, Lewis Ah Ching, CEO of MaxCity Property Fund explained: “We were among the first to believe in the potential of Ebène about fifteen years ago when we erected the first tower that we had called 1 CyberCity because of its geographical position, at the entrance to the brand new economic zone, Ebène. A few years later, we completed the ambition of 1 CyberCity with two additional towers. Now, this iconic Grade A Ebène building offers an exceptional service through the high standing of the office spaces and the services it offers. It is more than a workspace. It surprises both by its exterior architecture and by its interior layout.”
“The ‘wow’ experience just by entering the recently renovated lobby, with carefully thought-out decoration, a pleasant sound experience tailor-made by an international service provider, a fitness area and cafes that make this place much more than an office but a real place to live. Not to mention landscaped green spaces that bring a breath of fresh air. All this has reinforced the DNA of the building, which with the signature and the know-how of the MaxCity Group is more than ever in tune with the dynamics of the economic zone of Ebène. Today, we keep the same mindset of being aligned with the expectations and needs of companies and our know-how to stay ahead of trends. And the name One Exchange Square reflects this ambition,” he underlined.
Towards a new lease of life for Ebène
Between the office and commercial spaces, about fifty tenants occupy the three towers of One Exchange Square among Accenture, Ocorian, Standard Bank, Citco, Golden Gate, Astek and the embassies of Japan and Saudi Arabia. In 2019, the South African franchise The Business Exchange moved to the ground floor. Surfing on the trend of flexible offices, easy to access for meetings, conferences or board meetings with a concierge service, The Business Exchange offers for rent its modern and modular spaces according to needs. A new wing will be inaugurated next week and will make it possible to expand this offer of modern office spaces.
The CEO of MaxCity Property Fund highlighted his belief in the future of Ebène, which remains an essential economic area that has many assets for the business community. In his view, several accelerators will make the Ebène region an even more attractive area in the coming months: the improvement of road infrastructure, better fluidity in traffic, the arrival of the metro which will have a major positive impact, the creation of new parking areas, the regulation of existing parking spaces but also the construction of high-standing offices meeting the expectations of companies looking for a workspace combined with local services.
There are more than forty buildings in Mauritius and more than 200 companies that have chosen to have their headquarters or offices in this area which is often called the second economic capital of Mauritius.
“The demand for office space in Ebène is constant and real. We rely on our forty years of experience in real estate to appreciate the evolution of the market. There is a segment of customers looking for a building of a certain level of standing and premium services. In Ebène, there are a number of office spaces that can satisfy this demand and among them, our One Exchange Square building. This is also why we believe that Ebène remains an attractive business hub. In addition, the economic situation is showing encouraging signs of recovery and the interest of international operators to settle in Mauritius represents another positive indicator. We see that they favour Ebène during their prospecting exercise and choose to settle there. It remains the place-to-be,” the CEO of MaxCity Property Fund added.
Opportunities for international companies setting up in Mauritius
Commenting on how One Exchange Square could be an attractive choice for international companies, Mr Ah Ching noted that when they are looking for a base in Mauritius they are likely to look for what they would find at home, such as a flex office, which is provided at different levels. It would then be a question of whether it is a fit in terms of design, aesthetics, concept, experience and pricing, as well as service, flexibility and how they treat their clients. “We are obsessed by the experience we give to them and by the customer journey. This is how we make the difference. You must try to live it,” he remarked.
He emphasised the critical importance of Ebène as a strategic location for those setting up on the island, noting that staff may come to work from different parts of the island, and that even in the days of ‘work from home’ sometimes people will need to move around and get to real offices.
Focus on sustainability
At a time when eco-responsible orientations have become one of the essential criteria in the performance results of companies, MaxCity Property Fund underlined its commitment which began several years ago.
“Even before sustainable development became a major consideration or even a requirement in the management of companies, we had already integrated a large number of these measures that define the eco-responsible philosophy in the design, construction and management of operating costs related to its buildings”, Mr Ah Ching explained.
The CEO of MaxCity Property Fund cites a whole series of initiatives that have been taken in this direction: the East-West orientation of the One Exchange Square building makes it possible to minimize exposure to the sun’s rays, with alucobond panels having been installed to offer thermal insulation and promote air circulation while mitigating the impact of the intensity of the heat on the structure of the building. In addition, the window panels of the building are tinted E-glass in order to limit the impact of UV rays. These three provisions make it possible to reduce the energy requirements for air conditioning in offices, which carry the heaviest impact in terms of the carbon footprint. The implementation of smart metering system also makes it possible to monitor electricity consumption and therefore minimize any excessive and unnecessary consumption. A catchment system has also been implemented to recover rainwater for the needs of irrigation of common green spaces and the installation of solar panels.
“We are also currently working on the establishment of sorting and collection facilities for the recycling of plastic waste and paper. With all of these initiatives in place or planned, we have initiated the steps to obtain the Edge Green certification”, Mr Ah Ching elaborated.
Adapting to changing demand in the light of the pandemic
Lewis Ah Ching also described the direct and indirect impacts of the health crisis on the development of the company. “In terms of the direct impact, with projects that we are working on before and during the pandemic having suffered additional delays in their implementation, cost increases have sometimes resulted in putting certain projects on hold. We have also seen an impact indirectly because, as a partner, our mission during this difficult period was to listen to our tenants and respond to their problems. Our tenants in the retail sector are the ones who have been the most impacted with the cessation of their activity during the lockdown periods and slow and gradual recoveries. We have put in place accompanying measures to be able to alleviate their financial difficulties and greatly help them navigate towards an economic recovery”, he noted.
Mr Ah Ching also drew attention to the evolution in the use of office spaces, noting that people no longer work in the same way today and that the health crisis has only accentuated this new dynamic. “It was mainly a question of adapting, innovating and reinventing ourselves: three constants in the very history of the MaxCity Group which has greatly participated in accompanying the evolution and development of Mauritius over the past decades.”
“Working from home was a great experience that allowed us to see another way of approaching the world of work and the search for a different way of functioning. Currently, working from home has been institutionalized for some companies with mixed face-to-face work and the possibility of working for a few days at home. This leads to employers using office spaces in a different way, hence the emergence of hot-desking. What does that mean? Hot-desking is the possibility that office spaces are used by different employees at different times on an ad hoc basis with or without a reservation system. This makes it possible to optimize the use of office spaces. Hence the investment of MaxCity Property Fund in the establishment of The Business Exchange at One Exchange Square to offer this alternative with a premium positioning in line with the positioning of One Exchange Square“, he stated.
The CEO of MaxCity Property Fund said he remained optimistic about the challenges but especially the opportunities in the future to strengthen the efforts of the public and private sector for an economic recovery, underlining that the Group’s expertise in the real estate sector allows it to better understand the coming months and to have the confidence to start new projects. “More than ever, MaxCity Property Fund reflects the mission of our group: ‘We create better life experiences through better places’”, he concluded.
