A reputable construction company Addoha group of the Kingdom of Morocco is set to partner the government of Ghana fulfill its manifesto promise of constructing ten thousand affordable housing units for the people of Ghana.
The chief executive officer (CEO) of Addoha Construction Company Mr. Anas Sefrioui and his entourage will be in Ghana on Thursday to discuss with president Mahama and other senior members of government including public and private partners, the implementation of the affordable housing scheme, in fulfillment of governments promise to provide shelter to disadvantaged Ghanaians.
Undiluted information from the grapevine emanating from the office of the Moroccan embassy in Ghana points to the fact that Addoha construction company is coming to Ghana to create a practical presence by assisting government fulfill its in the housing sector, open a cement factory in the western region and also establish a bank (wafa Tijari)in Ghana.
Development in Africa
The Addoha group has consolidated its leadership in Africa by signing four agreements for the development of real estate projects an initial consistency over 6000 low cost housing in Cote d’voire, Cameroon, Guinea and Congo Brazzaville. The first land acquisitions were completed in 2012.
Development of new partnerships
Under the partnership with ALEM, four programs were allowed to Casablanca and Oudja, and another is under authorization Kenitra for a total consistency of 38, 000 social housing.
Presence in new markets
The group launched new projects in three new cities (Tetoun, Oudja and El Jadida), strengthening its market share. The Addoha currently operates in 17 major cities of the Kingdom.
Expansion of tax base
In order to ensure the sustainability of its business, the group has further expanded its tax base in 2012 through the acquisition of strategic land, including 200 hectares of the Casablanca- Rabat axis, corresponding to 40, 000 additional housing. In 2012, outflows related to the acquisition of land recorded in the amount of 2.1 billion dirhams.
Establishment of a strategic plan
The group initiated in 2012 a series of strategic actions to strengthen its financial structure, particularly through the optimization of working capital and financing of the property tax base, and master overhead.
The year 2012 was marked by significant achievements Addoha group. The group has demonstrated a high level of responsiveness to adapt to a difficult economic environment.
In terms of sale
The group has good performance trade resulting from an aggressive marketing policy that allowed the marketing of goods in 2012, with all the secure sales of the group at 16 billion dirhams.
In terms of production
The group produced 26, 861 property titled to land conservation in 2012, allowing it to maintain its leadership position in the market.
At the end of 2012, the final sales of Addoha group included 25 627 units, consisting of 94% low cost housing and mid range.
Among the itinerary of the visiting C.E.O of Addoha construction company Mr. Anas Sefriou will include a meeting with president Mahama at the flagstaff house, the minister of finance Mr. Seth Terkper, minister for water resources works and housing Hon. Collins Dauda and executives of Ghana real estate’s development association (GREDA).
