RDS stock reports 25 percent first half revenue growth
Published on 09/30/2026 at 12:02 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
RDS stock is backed by first-half revenue of MAD 202 million and 16,168 pre-sales, as Residences Dar Saada expands its housing pipeline through relocation programs. The figures for the six months ended June 30, 2026, show a sharp operating comparison with the prior-year period, but also a higher debt load.
Revenue rises to MAD 202 million
According to Medias24 on September 3, 2026, RDS revenue increased 25 percent to MAD 202 million in the first half of 2026, compared with MAD 162 million in the first half of 2025. That gives the company the fastest revenue growth among the three listed Moroccan property developers covered in the report.
The commercial figures are even more pronounced. Pre-sales reached 16,168 units, compared with 1,132 units a year earlier, while 15,423 units came from the Al Omrane Marrakech relocation program.
Relocation projects reshape the pipeline
The same Medias24 report states that 7,650 units were assigned directly to Residences Dar Saada, representing secured revenue of MAD 1.9 billion. A further 7,773 units were assigned to affiliated entity Residences Dar Saada X, also representing secured revenue of MAD 1.9 billion.
At the end of June, RDS had completed 6,000 Casablanca relocation units, equal to 60 percent of the units assigned to the company. More than 2,600 units were completed in the second quarter, while approximately 14,500 units were under production at the end of June.
Debt increases alongside expansion
The expansion carries a financing cost. RDS total debt stood at MAD 1.9 billion at the end of June 2026, compared with MAD 1.775 billion at the end of 2025, despite MAD 340 million of financial debt repayments during the first half.
For investors, the key comparison is between secured development and recognized revenue. The relocation agreements support a development pipeline, while delivery timing and debt reduction will determine how quickly that pipeline converts into reported earnings.
Casablanca shares close at MAD 168.10
RDS shares closed at MAD 168.10 on the Casablanca Stock Exchange on September 29, 2026. The company profile lists a market capitalization of MAD 4.5 billion as of September 20, 2026, with ticker RDS.MA and a real estate development classification.
RDS company facts
- Company: Residences Dar Saada S.A.
- Ticker: RDS.MA
- Primary exchange: Casablanca Stock Exchange
- Market capitalization: MAD 4.5 billion as of September 20, 2026
- Sector / Industry: Finance / Real Estate Development
