Aradei Capital reported a strong performance in the first half of 2024, with its revenue rising to 2.7 billion dirhams. This growth was largely driven by the solid performance of its existing real estate portfolio, bolstered by new lease agreements, rent indexing, and increasing revenues from the leisure sector. When excluding the sale of Atacadao Fès, the company’s organic revenue growth reached 2.9%.
The company’s operating expenses increased in line with revenue, reflecting its growing activity. However, Aradei Capital successfully managed its financial operations, leading to a significant 9% rise in Funds From Operations (FFO), a key indicator for real estate companies, amounting to 12.9 million dirhams. This increase was due to strategic financing and optimization efforts.
Aradei Capital’s cash flow was influenced by various factors, including operational income, debt management, investments, and a capital increase carried out in June 2024. The value of its investment properties now stands at 7.8 billion dirhams, underscoring the company’s strength in the real estate market. Additionally, Aradei Capital reduced its financial debt by 242 million dirhams, largely through the repayment of 150 million dirhams in commercial paper.
Looking ahead, Aradei Capital remains focused on sustainable growth, continuing to optimize its portfolio and financial structure. With strategic management in place, the company is poised to maintain its strong position in Morocco’s dynamic real estate sector.
