North Africa Holding Company signs Moroccan housing deal

North Africa Holding Co. (NorAH), a Kuwait-based Investment Company, was established in September 2006 with the aim of capitalizing on significant investment opportunities arising in North African economies. With a capital base of KD 50 million, NorAH is one of the largest pan-regional investment companies and is driven by a clearly defined vision and investment strategy.

NorAH aims to contribute to the sustainable development of North African economies by partnering with local companies. Moreover, it seeks to acquire significant stakes in companies with superior management teams, and firmly believes in partnering with its investee companies in driving their transformation into premier regional and global players.

In 2009 NAHC invested in Assoufid, a premier high end real estate residential project in Marrakech, Morocco. The spacious properties are set in exceptionally generous landscaped plots of one hectare and more, guaranteeing space and privacy.

Palmeraie Holding is a Moroccan business group that was founded about 40 years ago. The group initially started in the textile business and by the early 1980s, it began diversifying its activities and quickly became a national icon in building and managing major tourism and hospitality properties. It also emerged as a market leader of the luxury property development in Morocco.

In early 2000s, Palmeraie Holding recognized the market potential of the social and intermediate housing segment in Morocco and decided to set up Dar Saada Company as a dedicated entity for that emerging segment. Today, with 14 projects under development throughout the major cities of Morocco, the company enjoys strong brand recognition and emerged as a major market player.