CNCE - Emprunt 5,10% Juin 2018 : Groupe Caisse d'Epargne and the Addoha Group sign a partnership agreement for the sale in France of property developments in Morocco
Mercredi 2 juillet 2008 / 12h14
Groupe Caisse d'Epargne and the Addoha Group sign a partnership agreement for the sale in France of property developments in Morocco
(Paris, June 30, 2008) --- Groupe Caisse d'Epargne (France) and the Addoha Group, the leading property developer in Morocco, signed a partnership agreement in Marrakech on June 27, 2008 for the promotion and sale to customers living in France of real estate assets located in Morocco.
This commercial partnership reflects the shared determination of both groups to provide their joint support to potential buyers - including, in particular, Moroccans living in France - wanting to invest in real estate in Morocco (second home, retirement, investment, etc.).
The collaboration between the two groups has been given tangible form with the launch of an innovative offer, organized on the following basis:
- A varied selection of new properties comprised of apartments, villas and riads (traditional Moroccan houses) built by the Addoha Group and bearing a quality label awarded by independent experts,
- A secure legal and fiscal acquisition process, in perfect compliance with Moroccan laws governing off-plan housing sales,
- An integral financing solution dedicated to this project provided by the Caisse d'Epargne,
- A selling price based on the public price adopted by the Addoha Group in Morocco.
This new offering will be rolled out in an initial phase, starting this summer, to customers of the Caisse d'Epargne Provence-Alpes-Corse before being made more generally available to the real estate distribution networks working in partnership with the Group.
Thanks to this partnership,
- Groupe Caisse d'Epargne is able to expand its range of products by offering financing solutions tailored to individuals interested in buying properties developed by the Addoha Group included in this scheme. Financing is arranged within a legal framework that is secure at every stage in the transaction: initial reservation, conclusion of the preliminary contracts, and signature of the final sale contract.
- The Addoha Group is able to give concrete expression to its interest in an international clientele and, more particularly, in the French market. The Addoha Group will also enjoy the support and recognized experience of Groupe Caisse d'Epargne in the sale of real estate in France.
The launch of this new offer corresponds to the recommendations made by Groupe Caisse d'Epargne in the report drafted by Charles Milhaud on "the economic integration of migrants and the development of their savings," submitted to the French Minister of the Interior in September 2006 and aimed at facilitating the transfer of money and the development of migrants' investment in their countries of origin.
Following the signature of the agreement between the two groups, Charles Milhaud, Chairman of Groupe Caisse d'Epargne, and Anas Sefrioui, Chairman of the Addoha Group, expressed their satisfaction at having created "a partnership that will benefit all of their customers wanting to acquire property in Morocco." The two Chairmen also expressed their determination "to pursue their partnership over the long term and to develop synergies capable of creating new value for the benefit of both groups."
Groupe Caisse d'Epargne at a glance
One of the largest retail banking institutions in France, Groupe Caisse d'Epargne (GCE) is a front-ranking full-service, universal bank. The Group has begun its international expansion, in the Maghreb in particular, via Océor, its retail banking division for the international market and French overseas territories. Already present in Morocco through its equity interest in CIH and its subsidiary GCE Maroc, Group Caisse d'Epargne recently acquired 60% of the capital of Banque Tuniso-Koweitienne.
Addoha Group at a glance
The first real estate operator to be listed on the Casablanca stock exchange, the Addoha Group is a front-ranking player in the real estate development sector in Morocco. Present in the country's principal towns and cities, the Group develops a large number of real estate projects tailored to the needs of all market segments: low-cost housing and middle- to up-market properties designed for domestic customers, Moroccans living overseas and an international clientele.
Press contacts :
Groupe Caisse d'Epargne
Anne-Sophie Jourdain
(+33) 1 58 40 41 54
Christine Françoise
(+33) 1 58 40 46 57
Email: presse@cnce.caisse-epargne.fr
www.groupe.caisse-epargne.com
Addoha Group
Hassan Ben Bachir
00 212 22 67 99 75
Email: presse@groupeaddoha.com
www.groupeaddoha.com
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