Addoha Group has reported outstanding results for the first quarter of 2024, with pre-sales up by 3% compared to the same period in 2023. This has secured revenues close to 9 billion dirhams. Morocco accounts for 65% of this revenue, while West Africa contributes 35%.
Ongoing african expansion
The group’s expansion in Africa is progressing steadily. It has acquired new land in the heart of Abidjan’s “Cocody” district to develop a high-end residential program. Additionally, Addoha has signed a memorandum of understanding with the Gabonese government to develop social and economic projects in Gabon. In Cameroon, the group has commenced operations in Yaoundé, identifying several plots of land with corresponding real estate projects under study.
Significant production increase in Morocco
In Morocco, production has seen a strong resurgence, with 4,212 units completed in the first quarter of 2024, marking a 228% increase compared to the previous year. This surge in production has contributed to a 20% increase in revenue, reaching 689 million dirhams.
The group anticipates continued growth in the short term, driven by the significant increase in production volumes.
