SOMED (French: Société Maroco-Emiratie de Développement) is a conglomerate company based in Morocco. It is active in a range of sectors such as mining, construction material dealership, tourism, real estate development, food processing and Car dealership. Its capital is composed of Mohammed VI's holding company SNI, Emirati private funds and the Moroccan state.
Ownership
In February 2008, the SNI entered in the capital of the company, buying an equivalent of 1.24 billion Dirhams of shares. The partition then became:
- 32.9% SNI
- 33.9% Private Emirati funds
- 33.25% Trésor Marocain (Moroccan state)
Former Morocco's Minister of the Interior, Mostapha Sahel was the CEO of the firm.
Activities
The SOMED developed the Mazagan Beach Resort, Casino, Golf and Spa which it sold to the state-owned institution CDG in 2010 for an undisclosed amount.
Subsidiaries
The companies official websites mentions the following subsidiaries:
- Hotels
- Sheraton Casablanca
- Hôtel Pullman Marrakech Resort and Spa
- Atlas Almohades Casablanca
- Atlas Almohades Agadir
- Atlas Almohades Tanger
- Hôtel Barcelo Fès
- Hôtel Wahate Aguedal Marrakech
- Hôtel Atlas Hospitality Morocco Rabat
- Real-estate
- SOMED Développement
- Diversified
- Zellidja (Rebab company); subsidiaries:
- Al Ain, Fénie Brossette, SFP Zellidja, Atlantis, Africa Palace Maroc, Rebab Company, Delma (owner of Sheraton Casablanca), Daewoo Rabat (owner of Hilton Rabat)
- Zellidja (Rebab company); subsidiaries:
- Food Processing and fishing
- SOPROLIVES
- UMEP
- OLICO
- Construction, distribution and Industry
- SFP Zellidja (Société des Fonderies de Plomb de Zellidja)
- Fénie Brossette (Fénie Brossette)
- Société de Développement Automobile (Exclusive distributor of Maserati in Morocco)
- Education
- Université Internationale de Casablanca (Laureate SOMED Education Holding)
See also
References
- Atika Haimoud (4 February 2008). "La SOMED contrôlée par la partie marocaine". Aujourd'hui le Maroc. Retrieved 8 December 2013.
- Fatim Zahra TOHRY (29 June 2001). "Les pas de géant du groupe Somed au Maroc". L'Economiste. Retrieved 9 December 2013.
- Mehdi Michbal. "CDG. LA descente aux enfers". TelQuel. No. 429. Archived from the original on 3 November 2012. Retrieved 8 December 2013.
- "Société Maroc Emirats Arabes Unis de Développement - Hôtellerie". Retrieved 8 December 2013.
- "REBAB COMPANY". CDG Capital. Retrieved 8 December 2013.
- ^ "REBAB COMPANY S.A LIMITED" (PDF). CDVM. April 2006. Retrieved 14 March 2014.
