The consolidated turnover (CA) of Aradei Capital for the 1st half (H1-2022) amounted to 230.1 million dirhams (MDH) against 200.4 MDH for the same period of the year previous year, an increase of +14.8%.
This change is mainly due to the property company’s performance on a like-for-like basis (contribution from new lettings, indexation, variable rent and growth in other income), as well as the impact of the new scope on revenues for this 1st half ( acquisition of the shares of Cleo Pierre SPI -RFA with effect from the end of January 2021, recognition of rental income from the El Jadida clinic), the company indicated in a press release on its financial indicators for the 2nd quarter of 2022.
Social turnover stood at 79.7 MDH as of June 30, 2022 compared to 65.9 MDH as of June 30, 2021, an increase of +20.9%, reports MAP.
In addition, the GLA surface (useful commercial surface) of the Aradei Capital portfolio amounts to 391,000 m² as of June 30, 2022 (stable vs. end of March 2022), and the occupancy rate of the property is 97% at end of June 2022 (at the same level as end of March 2022).
The overall investment made by the property company for the first half of 2022 amounts to 381.1 million dirhams, mainly including the investment of Aradei Capital in the joint venture Akdital Immo for an initial amount of nearly 120 million dirhams in January 2022, and development expenditure on real estate assets, including approximately 209 million dirhams for Akdital Immo clinics. The total investment made by Akdital Immo cumulatively (including previous years) is 522 MDH.
For its part, debt amounted to 2.835 billion dirhams (MMDH) as of June 30, 2022, against 2.355 billion MAD at the end of December 2021.
This change is mainly due to the issue of commercial paper and bank financing for Akdital Immo’s development activity.