Rabat – Vecteur Label Vie (VLV), a subsidiary of the Label’Vie and Petra group, announced during a press conference held March 7, the creation of a joint venture with a portfolio of more than MAD 4 billion and some twenty-seven real estate assets in fifteen Moroccan cities.
VLV is a subsidiary of Label’Vie group, one of the leading food distributors and the exclusive franchisee of the “Carrefour” brand in Morocco, owns 40% of commercial real estate operated by the retailer. The group has seen its capital increase in 2015 thanks to an investment of 45 million euros from the European Bank for Reconstruction and Development, to support its expansion and to promote its transformation into Real Estate Investment Fund (OPCI) in Morocco.
For its part, Petra is one of the pioneers of commercial real estate in Morocco, specialized in shopping centers since 2001.
As the OPCI legislative framework is finalized, this merger will allow the creation of a large, diversified and stable fund.