CBo Territoria Launches Marashi and Mulima in Mayotte, Deliveries Scheduled for 2027
The Reunion-based real estate company has undertaken the construction of two complementary complexes for the Ylang Ylang shopping center, as part of the development of its economic activity hub in Combani, Mayotte.
CBo Territoria announced on September 24, 2026 the laying of the first stones of two programs at the Combani economic activity hub in Mayotte: MARASHI, a services hub, and MULIMA, a retail park.
According to the company, these operations, which complement the Ylang Ylang shopping center, are intended to strengthen the supply of services and retail in the sector and to contribute to the economic attractiveness of Combani as well as to the balancing of the Mayotte territory.
The ceremony was held in the presence of local elected officials and the group's management, including Chief Executive Officer Géraldine Neyret Gleizes.
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MARASHI will house activities in the banking, insurance and services sectors, as well as office spaces for businesses and liberal professions. Several players have already chosen to establish themselves there, including Groupama, Crédit Agricole, Allianz, BRED, Mayotte TOPO surveyors-experts and AKTO.
MULIMA will develop a total commercial space of approximately 1,500 m², divisible from 314 m², intended for retailers seeking larger formats. The design of both programs respects the same anti-seismic and anti-cyclone construction criteria as those of the Ylang Ylang shopping center.
Deliveries of MARASHI and MULIMA are scheduled for the second and third quarters of 2027, respectively.
le Groupe revoit à la hausse sa guidance de loyers bruts pour 2026
Risks mentioned
Environnement économique adverse et volatilité des taux d'intérêt
Baisse du taux d'occupation de 2 points entre fin juin 2025 et fin juin 2026
Dépendance à la situation géopolitique au Moyen-Orient et potentiel impact sur les flux de trésorerie futurs
Opportunities identified
Pipeline de projets tertiaires de 67 M€ d'investissements, dont 24 M€ en cours de travaux livrables au S2 2027
Solide visibilité en promotion résidentielle avec 28,7 M€ de réservations et pipeline de 830 lots
Amélioration du ratio dette nette/EBITDA à 5,3x et structure de financement robuste avec maturité de 7 ans et 7 mois
Outlook / guidance
Management commentary: Au regard d'une évolution de la situation locative tertiaire plus favorable qu'anticipé et d'un décalage dans le calendrier de certains événements locatifs initialement prévus en 2026, le Groupe revoit à la hausse sa guidance de loyers bruts pour 2026 et anticipe désormais une croissance d'environ +1%, contre une baisse comprise entre -1% et -2% précédemment
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