Aradei Capital grows revenue 28.00 percent: what it means for Aradei Capital stock

Published on 10/05/2026 at 18:12 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Revenue rose 28.00 percent to MAD 393.0 million in first-half 2026. Aradei Capital stock had MAD 8.5 billion in assets at June 30, 2026.

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Aradei Capital (MA0000012460) lifted consolidated revenue 28.00 percent year over year to MAD 393.0 million in the first half of 2026, according to Le Nouvelliste Maroc on October 1, 2026. The result gives Aradei Capital stock a clear operating metric to track as the Moroccan property company expands its portfolio.

Revenue reaches MAD 393.0 million

The first-half revenue increase included MAD 60.0 million from the residential development program at Dar Bouazza, a non-recurring contribution tied to delivered villas. Property activity excluding development generated MAD 334.0 million, up 8.00 percent from the first half of 2025, according to Le Nouvelliste Maroc.

Rental revenue reached MAD 311.3 million, compared with MAD 293.1 million in the first half of 2025. Consolidated EBITDA rose 6.00 percent to MAD 243.7 million, while adjusted FFO increased 5.00 percent to MAD 163.3 million, keeping the operating picture stronger than the headline net income number.

Portfolio reaches MAD 8.5 billion

At June 30, 2026, Aradei Capital held 35 assets across 23 cities with 507,000 square meters of leasable space, according to Infomediaire on October 1, 2026. The portfolio was valued at MAD 8.5 billion, compared with MAD 8.0 billion a year earlier, while occupancy reached 97.00 percent and commercial footfall reached 106.00 percent of the first-half 2025 level.

Investment spending is planned at MAD 600.0 million for 2026, double the MAD 300.0 million deployed in 2025, according to Infomediaire. The company also said nearly MAD 2.4 billion of its MAD 3.3 billion 2030 investment program was secured by the end of the first half.

Net income falls to MAD 55.2 million

The key counterweight was consolidated net income of MAD 55.2 million in the first half of 2026, down from MAD 98.6 million in the first half of 2025. A negative fair-value adjustment on investment property reached MAD 52.1 million, compared with MAD 11.9 million a year earlier, while the EPRA loan-to-value ratio increased to 38.00 percent from 34.10 percent, according to Le Nouvelliste Maroc.

Aradei Capital published its financial report for the first half of 2026 on September 30, 2026, and posted its results presentation on October 2, 2026, through its investor-relations pages. The figures leave investors with a two-sided profile: recurring property operations expanded, while development income and valuation effects made reported earnings more volatile.

Operating growth meets higher leverage

The June 30, 2026 portfolio figure and the 38.00 percent EPRA loan-to-value ratio frame the next phase of the strategy. Growth in rental income and occupancy supports the core property platform, while the MAD 600.0 million 2026 investment plan places greater weight on execution, financing discipline and the delivery of new retail, leisure and mixed-use projects.