Renault Expands into Real Estate After Record Car Sales in Morocco

Thanks to record sales of nearly 35,000 units at the end of June 2019 between its two flagship brands, Renault and Dacia, the Losange Group is now looking to develop its real estate subsidiary, which has several exceptional urban sites whose market value has experienced exponential growth in recent years, reports challenge.ma.

According to the same source, the logistics site in Ain Sbaâ, located on several hectares in the middle of an R+5 area, has housed the Renault National Spare Parts Warehouse (MNPR) since 2006, which supplies all the dealers and partner wholesalers.

To extract the land value of this jewel, estimated at nearly 200 million dirhams, RCM must go through an outsourcing of the management of the MNPR, the process of which is at a fairly advanced stage.

Once this operation is successful, Renault Commerce Maroc will be able to sell the land thus released, whose buildability and location can be used for various types of real estate projects (residential, professional, commercial).

Beyond RCM, created since 1928 and operating as an importer of vehicles from brands owned by its parent company, the second European manufacturer also manages a purely financial activity in Morocco.

It is through RCI Finance Maroc (leading automotive finance institution) and a significant industrial base composed of SOMACA and Renault-Nissan Tangier. Its two branches, on the other hand, produce vehicles for the local market and for export.