Office valuation in Morocco — tertiary appraisal by RICS-certified experts
ReaConsult appraises office floor plates, tertiary towers and CFC assets in Morocco using Income Capitalisation (VPS 6) and DCF methods of the RICS Red Book. Reports compliant with RICS standards and IFRS 13 (Fair Value Measurement), accepted by auditors, banks, OPCI (REITs) and institutional investors.
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Tertiary valuation methods
- Direct Capitalisation (VPS 6) — primary method for leased offices. Net annual rent ÷ cap rate = market value.
- Discounted Cash Flow (DCF, VPS 6) — for corporate, multi-tenant, value-add or repositioning assets. 10-year projection + terminal value.
- Comparable Method (VPS 5) — supported by comparable floor plate transactions, in €/m² or rent multiple basis.
- Cost Approach (VPS 8) — for owner-occupied assets, used as a check.
Casablanca Finance City (CFC) — specifics
The CFC status (Law 44-10) grants accredited companies a preferential tax regime (reduced corporate tax, exemptions). For assets in the CFC zone, the valuer considers:
- Tenant quality (CFC corporates, banks, asset managers)
- Prime rents (higher than the general market)
- Prime cap rate (7.5-8.5%) reflecting institutional attractiveness
- High construction standards (HQE, LEED, BREEAM possible)
- Superior asset liquidity at exit
IFRS 13 and institutional reporting
For Moroccan OPCI (REITs), tertiary subsidiaries of IFRS groups, real estate funds and statutory auditors, our reports comply with IFRS 13 (Fair Value Measurement) alongside the RICS Red Book. Hierarchy of inputs (level 1, 2, 3) traced, assumptions explicit, independence attested.
Recognised uses
- IFRS 13 balance sheets and group reporting
- Moroccan OPCI (REITs) — contributions, periodic valuation
- Acquisition / disposal of offices and portfolios
- Bank refinancing and real estate LBOs
- Portfolio assessment prior to disposal or contribution
- Commercial lease litigation — rent review (Law 49-16)
Request a quote for your offices
Please specify city, zone (CFC, Twin Center, Agdal...), GFA, lease nature and purpose (IFRS 13, OPCI, disposal, refinancing).