Casablanca – The Al Omrane Group is a key player in Morocco’s efforts to improve housing and urban development. Established by the State, the Group is dedicated to enhancing living conditions, especially for low-income and middle-class populations.

In the first quarter of 2024, the Al Omrane Group reported a turnover of approximately $97 million, marking a 32% increase compared to the same period in the previous year. This robust financial performance underscores the Group’s pivotal role in the national housing sector.

Moreover, Al Omrane’s investments exceeded $104 million during the first three months of 2024, reflecting a 4% growth compared to the same period in 2023. This investment underscores the Group’s commitment to expanding its projects and enhancing its contributions to the housing sector.

The Group has maintained the strength of its financial structure, with a debt level of approximately $509 million as of the first quarter of 2024, an increase of about $58 million from the same period in 2023. This increase is primarily attributed to the issuance of bonds worth approximately $124 million in September 2023, which were used to refinance previous debts. This strategic move has reinforced the Group’s financial stability, enabling it to continue its ambitious projects.

Al Omrane is a key player in addressing housing shortages, particularly for the most disadvantaged populations. By focusing on areas and segments with significant deficits, the Group enhances the housing supply for low-income and middle-class families, thereby improving their quality of life.

The Al Omrane Group’s organizational structure is designed to efficiently implement its strategic objectives. It comprises the Al Omrane Development Holding, 10 regional subsidiary companies, and 4 companies dedicated to the development of new towns (Tamansourt, Tamesna, Lakhyayta, Chrafate).

Through strategic investments, robust financial management, and a dedicated focus on social impact, the Al Omrane Group continues to play a critical role in Morocco’s housing and urban development sector. Its ongoing efforts ensure the provision of adequate housing for low-income and middle-class families, significantly contributing to the nation’s socio-economic development.