Despite the slippage recorded in the production and delivery schedule caused by the difficulties experienced by the real estate sector, in particular due to the soaring prices of building materials, the drop in yield during the month of Ramadan and the holidays and the decrease in purchasing power due to the inflationary situation, the Residences Dar Saada Group achieved a turnover of 242 MDH during the second quarter of 2022, up 4% compared to that recorded over the same period in 2021 .
Thus, the turnover achieved for the first half of 2022 amounts to 287 MDH against 325 MDH for the same period of 2021.
“However, the number of units in production, which amounts to 3,232 units without taking into account the new construction starts planned for H2 2022, gives us comfort in relation to the level of future activity”, specifies the company.
It should be noted that almost all of the turnover for the first half comes from properties developed by Résidences Dar Saada SA
presales
Thanks to good project momentum and a targeted commercial policy, the level of pre-sales for the second quarter of 2022 amounted to 767 units compared to 683 units over the same period of the 2021 financial year, i.e. an increase of 12%. Thus the total of presales made for the first half of 2022 reached 1,362 units compared to 1,332 units for the same period of 2021.
Debt
Still within the framework of the continuation of its debt control policy, the Group proceeded to the reimbursement of 169 million dirhams of bank debt, excluding interest.
Thus, the overall debt at the end of June 2022, including IFRS 16 leases) and excluding short-term cash, amounted to 2.39 billion DH against 2.54 billion DH at the end of June 2021, i.e. a decrease by 6%.