Compagnie Générale Immobilière

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 Gestion (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 Exchange to raise MAD3.5 billion (USD430 million).