Africa Stone Management (ASM), a real estate investment company owned by Banque Centrale Populaire, is looking to raise 110 million dirhams for its Alpha Property Fund.
The subscription period runs from 24 to 29 June and is open to eligible investors. Orders must be submitted to the company before noon on the final day.
The money raised will be used to buy a property that has already been identified, although ASM has not revealed further details about the asset.
An exceptional net asset value will be calculated on 6 July to complete the operation.
Alpha Property Fund received approval from Morocco’s capital markets regulator, the AMMC, in April 2025.
ASM has been managing real estate investment funds since receiving its own licence from the regulator in December 2019. The company is part of the Banque Centrale Populaire Group and focuses on Morocco’s growing OPCI market, which allows investors to invest in property through funds rather than buying buildings directly.
The fundraising comes as the sector continues to grow.
More than 55 OPCI funds are now operating in Morocco, with total assets under management estimated at around 110 billion dirhams.
These funds have become increasingly popular among pension funds, companies and other large investors looking for regular returns from property assets.
Depending on the type of property involved, annual returns generally range between 6% and 9%. The assets typically include offices, shopping centres and logistics facilities.
ASM already manages several property funds for major institutions, including pension funds such as CIMR and CMR.
The company was among the early players in Morocco’s OPCI market and managed a transaction worth around one billion dirhams in 2020 involving commercial properties owned by Banque Centrale Populaire.
