A company established on Friday by Gulf and Moroccan businessmen to oversee the building of 22,000 homes for low-income families in Morocco may float on the local stock market after two years, a company official was quoted as saying by the GDN.
Bahrain-based RealCapita and Morocco's Jet Asset Management announced they had formed House Invest, which will invest $400 million on social housing projects in Casablanca, Tangier, Agadir and Marrakesh during a period of four years.
RealMaroc, a fund specialising in social housing that includes leading investors from Saudi Arabia, the UAE and Kuwait, will buy 90 per cent of House Invest's capital, with the rest held by RealCapita and Jet.
