Hyvec Partners

Hyvec Partners

Company information

  • www.hyvec.com
  • Sector: Industry
  • Country of operations: Mauritius

Building Diversification

From a modest start a quarter of a century ago, Hyvec Partners Ltd (HPL) has gone on to become one of the leading construction companies in Mauritius, building everything from commercial shopping malls to up-market houses, high-rise office blocks, schools, universities and prisons. But it is not just a construction firm. The company launched a diversification strategy in 2011 and has since moved into a number of other sectors, including retail and hospitality.

These days, HPL has the exclusive distribution rights for the Tommy Hilfiger fashion brand in Mauritius, Botswana, Namibia, South Africa, Ethiopia, Rwanda and Kenya. It also represents a number of other high-end consumer brands such as Mont Blanc, Ralph Lauren and SieMatic.

“Our diversification and regional expansion strategies will pay off handsomely. Besides Mauritius, we have six Tommy Hilfiger outlets in South Africa and are opening three in Kenya, soon to be followed by Ethiopia and Rwanda,” says Nawaz Khan Chady, Founder and Chief Executive. “The high-end fashion clothing will reach cruising speed in various markets and will contribute significantly to turnover and profits.”

Meanwhile, it has received approval to develop a 100-room, three-star hotel aimed at business customers in Ebene CyberCity, 15km south of the Mauritian capital Port Louis. Construction work on this hotel and two others is due to start in the near future. The company plans to use these assets to develop its presence in the travel and tour markets. It says it is also actively considering entering the Islamic banking sector.

Even with all this activity, property remains at the heart of the group. “Construction and real estate will continue to be the flagship of the group,” says Nawaz. “We have a sizeable land bank to support development of properties. We are currently providing facilities management services to four buildings and there is scope to add new buildings going forward.”