Résidences Dar Saada posted a net loss of 17 million dirhams (MDH) for the first half of 2024, compared to a net loss of 8 MDH during the same period in 2023. This reflects a challenging period for the company as its financial performance continued to decline.
The group’s consolidated revenue stood at 92 MDH by the end of June 2024, a significant drop from the 254 MDH recorded at the same time in 2023, according to the company’s financial statement. This sharp decrease highlights the ongoing difficulties faced by the real estate developer in maintaining its previous levels of activity.
Despite these setbacks, the company projects that its activity levels for the remainder of 2024 will remain stable compared to 2023. This forecast takes into account the potential finalization of deliveries within its resettlement program and the expected completion of two high-end projects by the end of the year.
At mid-year 2024, the total number of housing units launched into production reached approximately 3,700. Additionally, new projects under the resettlement program were initiated following the signing of agreements related to the city of Casablanca’s housing initiatives.
