Home / Finance & Economy / Bricoma Holding invests MAD 220 million

Bricoma Holding invests MAD 220 million

The Bricoma group formalizes its entry into commercial real estate with the opening of a mall in Rabat, Hay Riad. Called Ryad Square, the new shopping center covers 34,000 m² of which 15,000 m² of sales area. The site mobilized an investment of MAD 220 million.

The leading DIY group is not alone in the round. Other institutional investors participated in the project. “Our goal is to complement the current offer of the area and attract more than 3 million visitors a year,” said Mohamed Filali Chahad, CEO of Bricoma Holding.

FC2B, supported by Bricoma Holding, developer and developer, expects 650 million global turnover that could generate all the mall’s brands and the creation of more than 750 direct jobs and more than 4,000 indirect ones.

The mall is home to fifty commercial premises including food and supermarkets (Super U, which opens its first store in Morocco, Venezia Ice, Dip’N’Dip …), DIY and decoration (Bricoma, Cosmos, Miro Home …), fashion brands (Levi’s, Koton, Tommy Hilfiger …), leisure, culture and service.

According to a study of the franchise sector in Morocco, conducted by the market research institute C&O Marketing, only 50% of the brands present in Morocco are located in Rabat. Of a total fleet of 462 franchise networks, barely 50%, or 229, are in the political capital against 91% in Casablanca.

Ryad Square enriches a market previously dominated by locals in feet of buildings (street retail), mainly on avenues Fal Ould Oumeir in Agdal, Annakhil in Hay Riad and the road of Zaer. But also complete the offer in the area, with premises meeting the needs expressed in terms of standards and standards (linear facades, ceiling heights, critical commercial mass …).

The mall is inserted in a commercial area already well anchored in the spirit of the inhabitants of the capital and prized by the Rbatis given its accessibility and ease of parking. A “qualitative” shopping area located 5 minutes from the Hay Riad office area and in the immediate vicinity of the Zenith project offices. The mall will also capture a clientele crossing the ring road.

With development projects in the Bouregreg Valley, Arribat Center (in Agdal), Technopolis, the Rabat-Salé tramway and the Dar Essalam estate, Rabat has new ambitions and stands out for its attractiveness.

Check Also

The Israeli company NewMed Energy will look for gas in southern Morocco

The Israeli company NewMed Energy announced the signing of a memorandum of understanding for the …

Leave a Reply