Sonae Sierra, the international shopping centre specialist, has signed a deal with Moroccan companies Marjane (ONA Group) and Foncière Chellah (CDG Group - Caisse de Dépôt et de Gestion), for the provision of development services for a shopping centre complex in Casablanca.
Sonae Sierra, the international shopping centre specialist, has signed a deal with Moroccan companies Marjane (ONA Group) and Foncière Chellah (CDG Group - Caisse de Dépôt et de Gestion), for the provision of development services for a shopping centre complex in Casablanca.
The complex includes a supermarket which will have a gross lettable area of 40,700 m2 and 130 shops and is scheduled to open to the public at the end of 2013.
Located between the Hassan II Mosque and the Casablanca marina, this centre is a part of the Casablanca Marina project, which integrates housing, leisure and business.
The activities to be developed by Sonae Sierra include market surveys, definition of layouts, architectural concept and project management throughout the entire development stage.
Marjane is the largest hypermarket and supermarket chain operating in Morocco and Foncière Chellah is a real estate investment fund fully owned by the CDG Group, one of Morocco's main financial institutions.
‘Morocco is a market with more than 31 million inhabitants, which is under rapid economic development, and has a shopping centre industry with an enormous potential for growth,’ said Fernando Guedes de Oliveira, Sonae Sierra's CEO.
