(Ecofin Agency) - The merger is expected to be finalized in 2025, pending approval from the relevant authorities.

Attijariwafa Bank is merging with its real estate subsidiary, Borj Attijari, in a move to streamline its business. The bank, which fully owns Borj Attijari, announced the decision on March 18 following board approval on March 10.

Borj Attijari focuses on developing office towers and commercial spaces. By absorbing it, Attijariwafa aims to make its real estate division more efficient and better positioned for growth. The bank is already active in Africa’s real estate market through Wafa Immobilier, its financing arm since 1991.

The merger is expected to be completed this year. Since Attijariwafa already owns Borj Attijari, the move will not affect its share capital.

Africa’s real estate market is growing, fueled by urban expansion and foreign investment, but access to loans remains a challenge. By restructuring, Attijariwafa Bank aims to strengthen its role in the sector and adapt to market demands.