Retail market in Casablanca is actively transforming

March 5, 2019 | By RetailME Bureau

Performance across Casablanca’s real estate market remained relatively stable throughout 2018 with the announcement of new projects, enhancing investor sentiment across all sectors, states JLL.

Oxford Economics predicts Morocco’s real GDP will increase by 3.3% in 2019, owing to the expansion of the industrial sector, increased tourism and higher levels of capital spending. As a result, the hospitality and retail sectors continued to remain active in 2018 with new projects set to enter the market in 2019. There was also a notable 8.5% increase in tourist arrivals in 2018 compared to the previous year, according to Morocco’s National Tourism Office (ONMT).

The retail sector in Casablanca continues to transform in relation to evolving consumer preferences. Retail developers are now responding to the change in demand by offering integrated retail parks housing additional leisure and entertainment facilities. Performance across the retail sector remained stable over 2018, paving the way for increased mall-based retail space entering the market.

The retail market has also remained broadly stable during the second half of 2018. The total retail stock remains unchanged at about 1.5 million sqft of GLA with no significant additions to the market.

This year, however, more retail space is expected to enter the market with the delivery of 430,555 sqft of GLA currently under construction in La Marina Casablanca. The completion of Marjane California extension, on the other hand, will add about 398,265 sqft of GLA to the market. Aradei Capital, a key commercial real estate player in Morocco, has announced the development of a 193,750 sqft retail park in Dar Bouazza, anchored by a 64,585 sqft Carrefour.

Other notable projects in the pipeline for the next few years include the Soft Group retail park currently under development in Dar Bouazza. This project is positioned as a shopping, dining and entertainment destination. The total mall-based retail stock is expected to reach about 2.9 million sqft of GLA by the end 2020.

Vacancies in main shopping malls remain low, although it is reasonable to expect higher vacancies with the delivery of new projects in 2019. While some shopping malls are experiencing high, average vacancies across the market remain stable – ranging between 5% and 10%. This level of vacancy is expected to continue as owners of poorly performing centres take measures to improve the attractiveness and footfall of their malls.



Previous Article Next Article


Union Coop, a consumer cooperative in the UAE, revealed that 78% of 

Continue Reading

August 24, 2021 | By Jibran Chouguley

Union Coop has opened its 23rd branch within the UAE in Jumeirah 

Continue Reading

August 2, 2021 | By Jibran Chouguley

Nando’s has revealed their revamped Sheikh Zayed Road outlet where newcomers and 

Continue Reading

July 8, 2021 | By Jibran Chouguley

UAE-based Al Maya Group announced that it will be boosting import of 

Continue Reading

June 24, 2021 | By RetailME Bureau

UAE-based grocery retail chain, Grandiose has opened its first hypermarket in Abu 

Continue Reading

June 2, 2021 | By RetailME Bureau

UAE-based Carrefour announced its theme and plans for Ramadan 2021. The brand 

Continue Reading

March 31, 2021 | By RetailME Bureau

Locally owned supermarket Spinneys celebrates 60 years of doing business in the 

Continue Reading

March 9, 2021 | By RetailME Bureau
Almarai, Carrefour, Emirates have the most loyal customers

UAE-based Carrefour will become the first retailer in the region to offer new levels 

Continue Reading

February 22, 2021 | By RetailME Bureau

The Organic Farmers’ Market is back in Bay Avenue for its 12th 

Continue Reading

February 17, 2021 | By RetailME Bureau

UAE-based  Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah, 

Continue Reading

February 15, 2021 | By RetailME Bureau
Jones the grocer

Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones 

Continue Reading

February 1, 2021 | By RetailME Bureau

UAE-based Al Maya Supermarkets is hosting a two-week food festival at select 

Continue Reading

January 17, 2021 | By Lawrence Pinto

Download Images RetailME Magazine