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Mubawab announces $ 7 million fundraiser

Leading digital real estate site Mubawab has announced a new $ 7 million fundraiser from Emerging Markets Property Group (EMPG), a Pakistani real estate group based in the United Arab Emirates. “Mubawab, through the EMPG Group, has just raised another $ 7 million in funding. This fundraising will allow the …

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Changes in the Booking platform by 2020

The online hotel booking platform “Booking.com” is committed to aligning its practices regarding the presentation of offers and prices with European Union (EU) law, the European Commission said on Friday. “Following dialogue with the European Commission and national consumer protection authorities, Booking.com has committed to changing the way it presents …

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Big 7 Travel: Casablanca in top 50 friendliest cities

American Travel Magazine “Big 7 Travel” published an article about the 50 friendliest cities in the world. Morocco’s largest and most crowded city, Casablanca, earned the 49th spot on the list. “With a thriving market square that’s home to the city’s Medina, it’s easy to get lost here, but residents …

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The opening of the Ritz-Carlton Rabat in 2020

Marriott International, Inc. announced plans to open more than 30 luxury hotels in 2020, including Morocco. “In the coming year, the brand is expected to bring its legendary service to Morocco for the first time, with the planned opening of the Ritz-Carlton Rabat, Dar es Salaam in the dynamic capital …

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Crowdfunding to boost the real estate sector

Real estate in Morocco will revive thanks to crowdfunding, an alternative financial ecosystem, whose legislative framework was approved in parliament. While the real estate sector is going through cyclical downturns marked by a slowdown in sales and large unsold inventories, new financing mechanisms (crowdfunding, REIT…) are coming. From 2020, the …

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Sheraton Casablanca changes ownership

CB Holding, a company under Luxembourg law controlled by Actis GP LLP, has just acquired “Delma d’Investissements Touristiques”. As a reminder, the latter, whose main shareholders are Somed (34%) and the Abu Dhabi Fund for Development (34%), was previously owner of the hotel managed by Sheraton Casablanca. Noting that Actis …

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LafargeHolcim: Decline in turnover

The cement group LafargeHolcim Morocco posted a turnover of 1.9 billion dirhams during the third quarter of 2019, down 1% compared to the same period last year. Thus, the consolidated turnover stood at nearly 5.8 billion dirhams at the end of September, a slight decrease compared to the previous year, …

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