Profile Cgi

CGI (Compagnie Générale Immobilière)

* CGI which stands for “Compagnie Génerale Immobilière” in French which means “Global Real Estate Company” in English is a subsidiary company of the CDG Group in the Promotion and Real Estate pole.

* CGI covers all sectors (residential, business, tourism and community facilities) and all segments (social, economic, medium and high standard) in Morocco.

* It was created in 1960 in a vision to boost the real estate sector in Morocco after its independence in 1956.

* In 2007, the company has been introduced in the Casablanca Stock Exchange Market (Bourse de Casablanca) and offered 20% of its shares to the public.

* In 2014, a corruption scandal emerged among highly ranked officials in CGI which resulted in the opening of an investigation by the Ministry of the Economy and Finance. The result was the radiation of CGI from the Casablanca Stock Exchange Market.

(Source: http://www.yabiladi.com/articles/details/30372/retire-bourse-casablanca-comme-exige.html)

* The current president of the group is Abdellatif Zaghnoun. The board of Directors is composed of 5 other people which constitute the Head Management Team of the group.

* The consolidated turnover at June 30, 2015 is 417 Million Dirhams, the investments in new projects at the same date amounts to 1.57 Billion Dirhams and the net income of the group share was 70 Million Dirhams.

* The Real Estate sector is very important in the Moroccan Economy. In fact, in terms of attractiveness for investors, Morocco is in the top 10 countries in the world with the least risk to invest in real estate.

* According to the Ministry of Economy and Finance, the Real Estate sector employs nearly one million people or 9.3% of the working population and 11% of this work labor is in urban areas.

(Source: http://www.finances.gov.ma/depf/SitePages/publications/en_chiffres/bord_annuel/tableau_bord_sectoriel.pdf)

* As we notice, the Real Estate sector in Morocco is highly...