Press Review: The Sale of General Tire Morocco’s Land Finally Confirmed in Casablanca
According to L’Economiste, the judicial case of General Tire Maroc (GTM) is reaching its conclusion after several years of stagnation. The economic daily reports that the sale of the land of the former tire factory was officially validated on May 5, during an auction supervised by the Commercial Court of Casablanca.
The publication states that the transaction involves two plots of land totaling 12.8 hectares, located in the Aïn Sebaa-Zenata industrial zone. This property, viewed for years as one of the most sought-after assets in Casablanca, has drawn interest from real estate investors, developers, as well as creditors and former employees of the company.
L’Economiste specifies that the first plot, corresponding to the former industrial unit, covers nearly 10 hectares (97,930 m²). The starting price set at the auction was 172.357 million dirhams. The second plot, measuring 21,100 m² and situated near the coastal road, was priced at 16.88 million dirhams.
The newspaper highlights that several previous attempts to sell the property had failed, despite valuations exceeding 330 million dirhams. Some offers made in 2024 had been around 189 million dirhams.
Further, according to L’Economiste, the identity of the buyer has yet to be disclosed. However, the urban development potential of the area suggests the possibility of a future real estate or commercial project, in a sector experiencing significant transformation between Aïn Sebaa and the eco-city of Zenata.
The daily also notes that the overall value of GTM’s assets, including land and fixed assets, is estimated at nearly 551 million dirhams, according to statements by attorney Oum Keltoum Farah. This amount is expected to cover debts owed to former employees, banks, suppliers, social organizations, and relevant administrations.
