Commercial RICS Valuation · Income Capitalisation · Law 49-16
Retail property valuation in Morocco — by RICS-certified experts
ReaConsult appraises retail units, shopping arcades, retail parks and high-street properties in Morocco using the Income Capitalisation Method (VPS 6) and Comparable Method (VPS 5) of the RICS Red Book. Integrated analysis of lease premium (Law 49-16), key money and market cap rates. Reports compliant with RICS standards.
Select your city
Retail property valuation Casablanca
Maarif, Twin Center, Anfa Place, Morocco Mall corridors, Derb Omar, Bourgogne, Racine
Main retail hub — premium high-street and gallery space
Retail property valuation Rabat
Mega Mall corridors, Agdal, Hay Riad commercial, Hassan, Diour Jamaâ
Institutional and premium residential retail
Marrakech, Tangier, Agadir and other cities on request.
Retail property valuation methods
- Income Capitalisation (VPS 6) — primary method for leased retail units. Net annual rent ÷ cap rate = market value.
- Discounted Cash Flow (DCF, VPS 6) — for long leases, multiple tenants, retail parks and arcades. 10-year net cash flow projection + terminal value, discounted at the investor's required rate.
- Comparable Method (VPS 5) — for vacant retail units or high-liquidity zones (Maarif, Anfa Place, Twin Center).
- Cost Approach (VPS 8) — for newly built or significantly repositioned units.
Lease premium and key money — Law 49-16
Law 49-16 governs commercial leases in Morocco. The RICS valuer distinguishes three asset components often confused:
- Property market value — owner of the built asset
- Key money — non-refundable payment from incoming tenant to landlord
- Lease premium / droit au bail — goodwill component, value of occupational rights (differential between paid rent and market rent × remaining term, discounted)
Retail cap rates in Morocco 2026
- Casablanca Maarif / Twin Center / Anfa Place — 7.0 to 8.5%
- Casablanca Bourgogne / Racine / Gauthier — 8.0 to 9.5%
- Rabat Agdal / Hay Riad commercial — 7.5 to 9.0%
- Periphery and secondary cities — 9.5 to 11.5%
Recognised uses
- Acquisition / disposal of retail walls
- Commercial mortgage financing
- Capital contribution to a company
- IFRS 13 valuations (Fair Value Measurement) for balance sheets
- Litigation — rent review, eviction, lease termination
- Goodwill transfer — walls / lease premium split
Request a quote for your retail property valuation
Please specify city, zone, area, current rent, lease type (Law 49-16 commercial) and purpose.