The Moroccan retail specialist, AKSAL Group, is planning to launch new shopping centers in the next three years, with investments totaling 10 billion Moroccan Dirhams (approximately $969 million), according to Salwa Idrissi Akhannouch, the founder and CEO of the group.
Founded in 2004, the group holds the franchise rights for around 90 international brands in luxury fashion and cosmetics.
It manages the largest shopping center in Africa, located in Casablanca, Morocco, which was developed in partnership with the Saudi Jedai Group, at an investment of nearly 2 billion Moroccan Dirhams.
During a panel discussion at the Future Investment Initiative Forum in Saudi Arabia, Idrissi stated that her group currently employs around 2000 people.
The plan is to launch four new shopping centers, each requiring an investment of up to 2.5 billion Moroccan Dirhams. This expansion is expected to create around 5,000 new jobs.
AKSAL Group’s immediate focus is on expanding within Morocco over the next three years, with plans to venture into African and Middle Eastern markets thereafter, in collaboration with other partners.
This strategic move is expected to enhance the group’s retail footprint and contribute significantly to job creation in the region.
