2015 was a year of performance for the Saada Spaces. The property developer has, in fact, collected the achievements and projects during the past year. This is what emerges from the most recent communication of the group published on the website of the Casablanca Stock Exchange. Thus, between land acquisitions, commercial performances, housing starts and production, the Saada Spaces have completed 2015 on a rather heavy balance sheet.

Acquisition of land: Focus on Casablanca!

The Saada Spaces have acquired a land area of 4.1 hectares authorized to develop nearly 1,000 standard housing units and shops in Casablanca. The land in question is located near the Casa Voyageurs train station in the Roches Noires district in the heart of Casablanca. As a result, the turnover generated by the project amounted to 1.2 billion dirhams according to the proponent’s forecasts. The company is also continuing its development in the northern region by finalizing the acquisition of a 10-hectare plot of land in Martil housing nearly 2,400 units for a potential turnover of nearly 600 million dirhams.

Commercial performance: Achieved objectives

Pre-sales during the year 2015 reached 5,658 units almost in line with the annual target of 5,700 units, ie a completion rate of 99%. Similarly, almost 85% of pre-sold units concern social housing, the rest of the units is shared between housing estates, medium standing, villas and shops. In more detail, for the projects carried out, the company has already sold more than 91% of its units. In terms of projects under construction, marketing rates reached 81% and finally, for developing projects, the commercialization rate reached 69% by the end of 2015. By region, the Center region The largest amount of commercialization recorded by the property developer during the year, or 54% of the units sold. It is followed by the northern region with 31% of the units sold and finally the southern region with only 15% of the units marketed.

Housing Starts: It’s Hard!

In terms of housing starts, the Saada Spaces reported 6,433 housing units during the year 2015. Similarly, not less than 7,633 units were completed in 2015 under the signature “Espaces Saada” . Bank debt: Balanced … At the end of 2015, the Group’s total debt amounted to MAD 2.562 billion, including MAD 1.812 billion of bank debt (excluding treasury bills). It should be noted that, during the year 2015, the company repaid for MAD 652 million (in non-interest bearing capital) and drawn for MAD 539 million.