MARA Delta is set to convert its Moroccan subsidiary into a real estate investment trust (Reit) by the end of 2016, as it looks to gain from tax savings created by the dispensation. The pan-African property group wants its Moroccan assets to be managed in a separate unit in North Africa. Morocco is seen as being a widely separate market from other African markets by various global institutions. "We have been aggressively pursuing the conversion of our Moroccan subsidiary for some time now," said Mara Delta CEO Bronwyn Corbett, speaking after the release of its full-year results to June. "There are numerous direct and indirect benefits associated with a Reit structure, such as a more effective tax structure. Property Reits are well understood by the international market, which bodes well for our ability to attract additional investors," she said. "Our strategy is to systematically expand across Morocco, and the Reit structure will allow for more cost-effective options … Ultimately, w...
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