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Joint Venture Enters Morocco’s Healthcare Market

The joint venture aims to create high-quality care facilities to meet international standards.

10 Jan 2022

Akdital, a leader in private healthcare in Morocco, Aredei Capital, a listed real estate company, and Bfo Partners are joining forces in an ambitious joint venture in the Moroccan for-profit healthcare market.

The three parties have successfully closed the joint venture (JV) AKTIDAL Immo. A joint statement said that the Moroccan real estate company Aradei Capital officially joined the round table of AKIDTAL Immo. The companies announced their strategic partnership earlier in September 2021.

With 51 % of the joint venture, Aradei Capital becomes the majority shareholder. The founding shareholders' shares are Akdital (32%) and Bfo Partners (17%).

An official statement clarified that the three parties are joining forces to satisfy Moroccan citizens’ expectations in the health sector. “Akdital, Aradei Capital, and Bfo Partners join forces and commit themselves to build health facilities,” the statement added that they would meet “international standards to meet the expectations of Moroccan citizens in terms of health.”

Aradei Capital’s initial investment was about MAD 120 million ($12.93 million) at closing. Stakeholders will pour additional contributions into this investment when Akdital Immo's financing needs arise. The investment aims to maintain a real estate portfolio of about MAD 1 billion ($107.80 million).

Akdital Immo's goal is to acquire and build a portfolio of health real estate assets to generate rental revenue. The company now owns a private clinic in El Jadida that will open in June 2021, as well as a development of private clinics in Agadir, Tangier, Safi, and Salé. The statement pointed out that investment prospects are also being investigated in two additional cities.

This cooperation could enable the company to invest h MAD 1 billion ($107.80 million) between 2021-2023, with debt and equity financing.

As Morocco's leading private healthcare provider, Akdital has made healthcare accessibility a top priority in its mission. The group's goal is to create a network of healthcare facilities that provide high-quality care and professional management following worldwide standards.

Aradei Capital is a Casablanca Stock Exchange-listed Moroccan real estate corporation. Its primary business is purchasing and developing real estate assets intended to create long-term rental revenue.

Bfo Partners is a real estate business specializing in the development of rental yielding real estate projects. It has three projects to its name, totaling several hundred million MAD, including the Onomo Airport Casablanca hotel leased by the pan-African hotel brand Onomo.

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