Immorente Invest Reports Real Estate Revenues of 43.1 Million Dirhams for the First Half of 2026
Immorente Invest continues to make progress in the first half of 2026, driven by improved revenue from its real estate portfolio and the operational launch of new assets. The company is simultaneously maintaining its expansion strategy to bolster its rental income and cash flow.
As of the end of June 2026, Immorente Invest’s real estate revenues reached 43.1 million dirhams, up from 39.6 million dirhams a year earlier, marking a growth of 9% year-on-year.
This positive performance was also confirmed in the second quarter, with real estate revenues amounting to 21.8 million dirhams, an increase of 8% compared to the same period in 2025. This growth can be attributed to the strengthening of the income-generating asset portfolio and improved commercialization of office spaces.
New Assets Supporting Revenue Growth
Part of this growth is linked to the inclusion of the industrial site Skylla in Immorente Invest’s portfolio, following its delivery in the fourth quarter of 2025.
The company is also benefiting from the leasing of several office assets that commenced operations at the end of last year, gradually contributing to the increase in revenue generated by its portfolio.
According to International Financial Reporting Standards (IFRS), consolidated revenue reached approximately 21.3 million dirhams in the second quarter, reflecting a slight increase of 1% year-on-year.
On a social basis, revenue reached around 9.3 million dirhams during the same period.
An Investment Portfolio Valued at 1.25 Billion Dirhams
Immorente Invest’s real estate portfolio is estimated to have a total value of 1.25 billion dirhams.
Industrial assets make up the largest component of this portfolio, accounting for 51%. This is followed by office assets, which represent 29% of the total.
Healthcare-related assets comprise 16%, while retail spaces constitute approximately 4% of the portfolio.
This diversification enables the company to rely on multiple categories of income-generating assets and to distribute its exposure across different segments of the professional real estate market.
No New Investments in the Second Quarter
Despite the increase in revenues, Immorente Invest did not undertake any new investment operations between April and June 2026.
However, the company intends to remain vigilant for new opportunities that could enhance its portfolio and increase its base of income-generating assets.
This strategy primarily focuses on acquiring real estate assets that offer potential returns and can contribute to sustainable growth in rental income.
A Controlled Financial Structure
As of the end of June 2026, Immorente Invest’s gross debt stood at 370 million dirhams, while the company had a cash reserve of 13.4 million dirhams.
The loan-to-value (LTV) ratio, which measures the level of debt in relation to the value of assets, was established at 28%. This level indicates a controlled approach to debt in relation to the structure of the real estate portfolio.
For the second half of the year, Immorente Invest is maintaining its financial objectives for the fiscal year 2026, particularly aiming for a Funds From Operations (FFO) of approximately 5.5 dirhams per share.
The company plans to continue optimizing its existing assets while seeking new investment opportunities. The goal is to gradually enhance real estate revenues and cash flow, with the portfolio expansion strategy remaining central to its growth model.
