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Sun, 05 Jul 2009 | 06:44 GMT

Compagnie Générale Immobilière   (CGI.CSE)
Also known as: CGI
Last Trade
1,925.00 MAD
- 1.28%
 
 
 
 
 
 
 
 
 
 
 
 
Company Updated: Mar 13, 2008
 
Joint Stock
 
 
Real estate development and management; construction and engineering services.
1960 (March)
N/A Company, 125 Group (As of Mar 10, 2008)
 
CGI 
Ordinary 
MAD 
 
 Key Officers
Mohammed Ouanaya
Chairman
Abdulsalam Abu Mehdi
Director and General Manager, Finance
 
 Contact Details
Address:
Hay Ryad
Espace Oudayas Mehdi Bubarka Street
P.O. Box 2177
Rabat
Morocco
 
+212 537-239494
 
+212 537-724597
 
cgi@cgi.net.ma
 
www.cgi.ma

 
  Privatization Details
Listing Date:
10Aug07
Size of Offering:
$430.97M
Equity Offering:
20%
Lead
Managers:
CDG Capital
 

  Business Overview
Compagnie Generale Immobiliere (CGI) provides engineering, design, construction and management of residential and commercial properties in the real estate sector.

The government of Morocco established CGI in 1960 through a state-owned company, Caisse de Depot et de GestionCaisse de Depot et de GestionLoading... (CDG) to develop residential buildings. CGI was acquired by a sister company, CDG Developpement in 2004, which expanded its offerings to high-end residential properties, golf courses, hotels, gardens and malls in addition to multi-functional commercial complexes.

CGI subsidiary Al Manar Development Company broke ground on a 2.7 million square foot Casablanca Marina multi-functional project in 2006. The Marina, which is worth MAD5.5 billion (USD678 million) will include a hotel, conference venue, residential apartments, business offices, restaurants, gardens and shopping facilities, when it is completed in 2012.

CGI began construction in 2006 on AMWAJ, a MAD16.2 billion (USD2 billion) residential and commercial project being developed by a consortium including its parent company CDG, Dubai International Properties (DPI) and SABR Management. AMWAJ has an area of 100 hectares (10.7 million square foot) located in Rabat and will consist, when it is completed in 2009, of commercial and residential towers, a marina, hotels, convention centers, multiplexes, residential units and shopping malls.

CGI will undergo an IPO in July 2007 offering 20% of its shares on the Casablanca Stock ExchangeCasablanca Stock ExchangeLoading... to raise MAD3.5 billion (USD430 million).
 
 
 Major Shareholders
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  Organization Structure and Related Entities 
Subsidiaries/Associates/Affiliates
 
Name  Country  Holding
Société Al Manar Development Company Morocco 70.00%
Developments and Projects
 
Name  Country  Holding
Casablanca Marina [via Société Al Manar Development Company] Morocco 70.00%
Salam Resort Morocco 30.00%
Amwaj Morocco 20.00%
Chrifia Oasis Resort Morocco -
 
 
  Representatives
Auditors
KPMG Middle East and South Asia
Deloitte and Touche Middle East
Banks
Crédit Agricole du Maroc
Crédit du Maroc
Law Firms
 
Cabinet Naciri et Associés
 
 
 
 Summary Financials
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 Available to subscribers only. Information in this section includes key financials data such as Total Revenues, Net Profits, Totals Assets, Shareholder Equity, etc. » More Details
 
Company information provided by © 2009 ABQ Zawya Ltd.
 
 
    
 
 
 
 
 

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