CASABLANCA, Morocco--(BUSINESS WIRE)--Following the January 13th, 2015 Board of Directors meeting held by Addoha Group, a leading actor in real estate in Morocco and in Africa, a new strategic plan was adopted, aiming to take the company’s operations to the next level.
This plan, entitled “Generation Cash”, is based on a renovated strategic vision of the company, aiming to reach four major goals : improving cash flow operations, reducing debts and operating cash needs, as well as raising the level of dividends per share by the end of the fiscal year 2014.
The Basics of this program are strongly underlying the fundamentals of the business model of the company, which has a property reserve of nearly 5,000 hectares -including 900 considered as strategic- combined with a stock of around 16,000 finished units.
In addition, Addoha group has customer receivables that match nearly 10 months of turnover, which are the subject of special attention within the strategic program in order to reduce their level significantly.
As a continuation of these efforts, Addoha is targeting an ultimate goal of reducing the group's debt by 33% by 2017 and financial expenses by almost 40%.
To support the implementation of the program, a strategic committee was appointed by the Board of Directors and will be responsible to communicate the results on a quarterly basis.
With regards to the upgrade of the Group's governance and as part of the strategic program, Addoha Group is preparing to host new independent directors in its board and to establish a long term rating process.
As the first real estate operator listed on the Casablanca Stock Exchange, Douja Promotion Addoha Group successfully executed programs totaling hundreds of thousand of homes and has a reserve of nearly 5000 Hectares. The group holds a leading position in the Moroccan market of real estate development and has a substantial presence in West-Africa.
Addoha group is also an innovative operator that has put in place a unified desk that allows clients to perform all banking and administrative operations for the acquisition of housing.