TGCC Begins Construction on $55 Million Luxury Tower in Casablanca’s Business District

With its residential component consisting of high-end apartments, office floors as well as shops at the foot of the buildings, the Tour 33 project will cost 550 million dirhams. It is one of the largest projects currently under construction in the new business district of the economic capital Casa Anfa, along with that of Burj Attijari, whose overall budget is around 1.5 billion dirhams, reports Challenge.

TGCC plans to deliver the infrastructure during the second half of next year. Tour 33 is the second most important project ever undertaken by TGCC Immobilier after that of Domaine de Darb (villas and apartments on the Dar Bouazza road) which had required an investment of more than 700 million dirhams.

The TGCC group, which has become famous in real estate for about a dozen years, is currently building through TGCC immobilier several emblematic real estate projects of modern Morocco, including the Mohammed VI Tower on the banks of the Bouregreg in Rabat for the Financecom group, scheduled for delivery in 2023.

The Bouzoubaa family, the majority shareholder of TGCC, wants to go public in order to offer an exit window to its minority shareholder, the investment fund Meditterania Capital Partners, which acquired 15% of the capital at the end of 2017 for an amount of nearly 600 million dirhams.