SOMED () 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 King Mohammed VI's holding company Al Mada, Emirati private funds and the Moroccan state.
Ownership In February 2008, the SNI (now Al Mada) entered in the capital of the company, buying an equivalent of 1.24 billion Dirhams of shares. The partition then became: 32.9% Al Mada 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) 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 Les Domaines Agricoles Attijariwafa Bank SONASID
References
External links SOMED.ma