RDS reports a positive result for the first half of the year and updates on relocation programs

The Dar Saada Residences Group recorded 1,132 pre-sales during the first half of 2025, compared to 652 pre-sales in the same period of 2024, excluding properties allocated under the housing program. New subdivision and residential unit projects will be launched for pre-sale as part of the new direct housing assistance program. The secured revenue remains stable at 3.7 billion DH, primarily due to the signing of agreements related to the relocation program in 2024. The group generated a revenue of 162 million DH in the first half of 2025, down from 174 million DH in the same period of 2024. With ongoing projects nearing completion and the realization of deliveries under the relocation program, the level of activity achieved resulted in an operating profit of 35 million DH, compared to 7 million DH during the same period in 2024. The net profit for the first half of 2025 stands at 6 million DH, a significant improvement from a loss of 13 million DH recorded in 2024. A total of nearly 11,800 units have been launched into production, with 6,100 units initiated in the first half of 2025. Regarding the AMIs, the group has continued the construction of properties in Casablanca as part of the relocation program for over 10,300 social housing units, valued at 2.6 billion DH. The work is progressing according to schedule. The group also submitted a bid for the Marrakech AMI, with results expected soon. This represents a major opportunity to strengthen their commitment to the social housing sector and continue their strategic plan in the coming years, according to management. In terms of land reserves, the group holds a quality land reserve of approximately 1,177 hectares, with 34% located along the Casa-Rabat axis. This current land reserve supports the development of real estate projects in the short and medium term. Continuing its policy of managing debt, the group repaid 268 million DH in financial debts, excluding interest. Consequently, total debt for the first half of 2025, including lease contracts (IFRS 16) and excluding short-term cash, amounts to 1.63 billion DH, down from 1.71 billion DH at the end of 2024. The net gearing remains stable at 31% as of the end of June 2025. Customer receivables remain stable and controlled, amounting to 209 million DH at the end of June 2025, compared to 212 million DH at the end of December 2024. The group also announced the ongoing sale of a land asset for 260 million DH from the securitization fund, facilitating the repurchase of this securitized asset and the establishment of a financing plan for the repurchase of other securitized assets.