International shopping centre specialist Sonae Sierra has strengthened its presence in Morocco with the signing of its second service provision contract in the country.
International shopping centre specialist Sonae Sierra has strengthened its presence in Morocco with the signing of its second service provision contract in the country.
The contract with Moroccan company Marjane involves the development of a project in Casablanca. Marjane belongs to the ONA Group and is the largest hypermarket and supermarket chain operating in the country.
The new project is part of real estate development Ibn Tachfine, which includes offices and a hotel with 100 rooms. Scheduled to be inaugurated in 2014, the centre will have a total Gross Lettable Area (GLA) of 24,120 m2 and 80 shops. The services to be provided by Sonae Sierra include commercial offer analysis, definition of layouts, architectural concept, as well as project management and engineering consulting throughout the development stage.
Sonae Sierra entered Morocco in March 2011 with the signing of its first contract with Marjane and another Moroccan company, Foncière Chellah of Caisse de Dépôt et de Gestion Group, for the provision of development services for Marina Shopping Casablanca, which includes housing, leisure and business.
Fernando Guedes de Oliveira, Sonae Sierra's CEO, commented: 'Morocco is a market with more than 34 million inhabitants, which is under rapid economic development and has a shopping centre industry with an enormous potential for growth.'
