Immorente Invest will complete in the current month its investment program of 520 million dirhams.
And in order to ensure its development and growth, the real estate company is proposing to its shareholders a new capital raising to be used to finance future acquisitions.
In this context, and in order to honor its commitments to its current shareholders, Immorente Invest will distribute the yield from 2019 operations, it means rents, at the end of 2019 instead of the beginning of 2020, so that current shareholders benefit in full and receive a return in line with the promises made, namely 6.5%, subject to the approval of the general meeting to be held on November 14, 2019.
As a reminder, Immorente Invest raised, in May 2018, 400 million dirhams of equity capital on the Casablanca Stock Exchange. This amount was used for investments while the flows from operations, it means rents, were used to distribute a return of at least 6% to the shareholders.