Morocco’s Istiqlal Party Sells Assets Amid Financial Crisis

The first assets sold are the headquarters housing the party’s newspapers, "L’Opinion" and "Al Alam", located near the Moulay Abdallah sports complex on the road to Témara, valued at around 21 million dirhams by the executive committee. They were sold to banker Othmane Benjelloun.

The buyer would like to transform the former premises of these newspapers into a showroom, specifies the same source. In addition to these premises, the oldest party also wants to sell its brand new headquarters in Hay Riad, built under Abbas El Fassi, the former Prime Minister, and which has never been inaugurated.

As for the PI premises in Tangier and Marrakech, built under the presidency of Hamid Chabat, they are also for sale, without the approval of the National Council. This lightness led Hassan Sentissi, the party’s treasurer, to resign during a rather stormy meeting of the Executive Committee. New premises have been rented in downtown Rabat to house the Istiqlal press and its printing press.