Alliances
Alliances develops economic, mid-range and high-end housing and golf resorts, providing turnkey delivery as delegated project owner for third-party clients.
- Public company
- Casablanca, MAMorocco
Alliances develops economic, mid-range and high-end housing and golf resorts, providing turnkey delivery as delegated project owner for third-party clients.
Which risks could break the thesis, and what would warn of them?
Rising construction costs and lengthy approval procedures can delay and pressure developer projects: construction material prices rose between 25% and 30%, and administrative permit procedures could take one year to 18 months. Alliances' cumulative presales through June 2026 reached 3,267 units, up 2% from the same period in 2025, so this slight presales growth makes execution and demand indicators important to monitor.
The Group Alliances decided to refocus on property promotion, and judicial liquidation of three construction subsidiaries was pronounced in the first quarter of 2016.
How does it make money per customer, and what is still unknown?
Alliances' reported revenue and presales rose, yet those figures leave value capture per unit unestablished because unit-level revenue, delivery costs, and retention are not disclosed: consolidated revenue reached MAD 1.418 billion in the first half of 2026, up 6.5% from MAD 1.3 billion a year earlier, and cumulative presales through June 2026 totaled 3,267 units, up 2% from the same period of 2025.
Prices of construction materials rose, and the increase lay between 25% and 30%.
What does the product do for its buyer, and how is it delivered?
Alliances serves property buyers through housing development and external clients as delegated project owner or turnkey contractor, and its ALLIANCES DARNA arm develops social and mid-range housing.
Its project-service responsibilities span from identifying needs to on-site installation.