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Alliances Développement Immobilier Reports 6% Net Profit Growth to MAD 229.6M in H1 2026
Moroccan real estate developer Alliances Développement Immobilier (ADI) has delivered solid first-half 2026 results, with consolidated net profit rising 6% year-on-year to MAD 229.6 million. The performance was driven by a 6.5% increase in consolidated revenue to MAD 1.42 billion and a notable 16% improvement in gross margin, reflecting enhanced operational efficiency and strong commercial momentum across its diversified project portfolio.
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Alliances Développement Immobilier (ADI) has maintained its growth trajectory through the first half of 2026, posting consolidated revenues of MAD 1.418 billion by the end of June, compared to MAD 1.333 billion in the same period last year—a solid 6.5% increase.
Profitability Metrics Show Strong Improvement
The company's profitability indicators demonstrated even more impressive gains. Gross margin reached MAD 538 million, representing a 16% year-over-year increase from H1 2025. This metric now accounts for 38% of total revenue, up from 35% in the previous year, signaling improved pricing power and operational efficiency.
Operating profit came in at MAD 409.7 million, substantially higher than the MAD 320.5 million recorded at the end of June 2025. The financial result remained negative at MAD -17.3 million, though this represents an improvement from the MAD -24.7 million loss posted a year earlier. However, non-recurring results deteriorated to MAD -105.7 million, compared to MAD -21.4 million in H1 2025.
Bottom Line Growth and Debt Reduction
Consolidated net profit for the semester totaled MAD 229.6 million, up from MAD 215.7 million in the corresponding period of 2025. The group's share of net profit reached MAD 229.6 million versus MAD 210.3 million year-over-year.
On the balance sheet front, ADI reported a reduction in net debt levels. Net debt stood at MAD 1.179 billion at the end of June 2026, down from MAD 1.278 billion at the end of March—an 8% decline that strengthens the company's financial position.
Commercial Activity Remains Robust
From a commercial perspective, Alliances recorded 3,267 units in pre-sales, maintained an order book of 4,356 units, completed 1,703 definitive sales, and produced 6,312 units during the first half of the year.
Future Outlook and Project Pipeline
Looking ahead, Alliances indicated it will continue its growth momentum supported by a diversified project portfolio representing an estimated revenue pipeline of MAD 23 billion over the coming years.
The group has launched two major housing developments in the northern region along with a high-end project in M'diq. In Marrakech, three mid-to-high-end residential projects have been initiated and are reportedly generating sustained commercial performance. Additionally, ADI highlighted progress on its various hotel projects, particularly in partnership with the Rixos Group.