27 Jun 2018 - Morocco (Marrakech)

James Whitmee

I am in Morocco looking at the retail market. Yesterday I was in Casablanca where I visited AnfaPlace, Morocco Mall and Tachfine Center.

I hired a car and last night I drove down to Marrakech. The road is good and it took me about 2.5 hours. Today I have been looking at Menara Mall, Carre Eden and Al Mazar.

Retail mall market conditions in Morocco are buoyant, and there is a lot more positivity here compared with the position in more mature markets.

There are relatively few centres and the best ones are operating at up to 95% occupancy. Prime rents are around MAD 400 /sq m /month and turnover rents are relatively uncommon.

Marrakech Menara Mall

Menara Mall in Marrakech

Marrakech Carre Eden

Carre Eden in Marrakech

Marrakech Al Mazar

Al Mazar in Marrakech

 

Tags: Morocco