The General Company for Morocco Works (SGTM) announced its intention to enter the Casablanca Stock Exchange to finance its expansion plans, which include the construction of the future Hassan II Stadium, expected to be the largest in the world with a capacity of approximately 115,000 seats near Casablanca.
The company has raised a record amount of 34 billion dirhams from its contracts, while Morocco prepares to host the 2030 World Cup in partnership with Spain and Portugal.
General Director Hamza Qabbaj stated to Bloomberg that the stock market entry will help SGTM access new financing tools, including project bonds and private debt markets.
The company, which has completed prominent projects such as the Twin Center Towers in Casablanca, the Nador West Mid Port, and the renovated Moulay Abdallah Stadium in Rabat, is expecting revenues of 14 billion dirhams in 2025. In this context, Hamza Qabbaj emphasized that the World Cup on national soil acts as a “catalyst for infrastructure development” in the country.
Benefiting from the momentum of these projects, estimated at $140 billion in investments by 2030, SGTM also plans to pursue foreign contracts, particularly in Saudi Arabia, which will host the 2034 World Cup.
This announcement marks a significant strategic step for SGTM, which has become a key player in Morocco’s construction sector amidst the excitement of preparations for the major global sporting event. Entering the financial market is expected to enhance the company’s international competitiveness, with a focus on sustainability and innovation in infrastructure projects.
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