Societe Immobiliere Balima

What Societe Immobiliere Balima does

Societe Immobiliere Balima is a publicly listed Moroccan real estate firm headquartered in Rabat and trading on the Casablanca Stock Exchange under the ticker BAL. Founded in 1928, the company operates across three integrated service lines: construction, maintenance, and asset sales, serving clients in the Moroccan property market with a vertically organized offering that spans the real estate value chain.

The firm's operating model is asset-heavy and lean in headcount, with reported employment in the 11-50 range, consistent with a portfolio-driven holding company that leverages owned real estate rather than scaling through labor. Reported financial data shows material top-line scale, with revenue figures rising from roughly 4.79 trillion (2022) to 6.94 trillion (2025), and net income recovering from a 2023 trough to approximately 1.50 trillion in 2025, though these figures appear denominated in Moroccan Dirham rather than USD as labeled. Despite the public listing and near-century operating history, the company's digital footprint is minimal: its corporate website rendered only a loading/verification page during data collection, and no customer logos, partnerships, leadership profiles, or product details are publicly documented in the available source material. This significantly limits visibility into operational quality, customer concentration, and modernization initiatives.

Name

Societe Immobiliere Balima

Website

https://balima.com

Company type

Private

Founded year

1928

Headcount range

11–50 employees

Short description

Societe Immobiliere Balima is a publicly listed Moroccan real estate firm founded in 1928, headquartered in Rabat, providing construction, maintenance, and asset sales services to the Moroccan property market.

Ownership category

akta.pro rank

Product category

Real Estate Services

NAICS

Offices of Real Estate Agents and Brokers (5312)

SIC

Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Commercial Real Estate Brokerage (Leasing & Sales) (FSAEAJAB)

akta.pro secondary industry

Capital Markets Advisory (Equity Placement, JV & Recapitalization) (BPAJABAL)

Keywords

• Real estate services
• Property construction
• Asset management
• Building maintenance
• Property development

Headquarters

HQ city

Rabat

HQ country

Morocco

HQ region

Africa

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Others

Core offering

Societe Immobiliere Balima is a real estate firm that provides construction, maintenance, and asset sales services. The company operates in Morocco, headquartered in Rabat, and has been in operation since 1928. It is publicly listed on the Casablanca Stock Exchange under the ticker cas:BAL.

Differentiator

Problem solved

Functional benefit

Products and services

• Real Estate Construction Services Construction services for real estate projects, offered to clients in Morocco. The firm provides building and development capabilities as part of its real estate portfolio.
• Property Maintenance Services Maintenance services for real estate properties, supporting the upkeep and value preservation of assets owned or managed by clients.
• Real Estate Asset Sales Sales services for real estate assets, facilitating transactions for buyers and sellers of properties in the Moroccan market.

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Recent moves3 records

Expansion highlights2 records

Others

• SGTM (Société Générale de Travaux au Maroc): Major Moroccan construction and civil engineering firm. Relevant to Balima given the construction arm of its offering; comparable as a Casablanca-listed operator serving Moroccan real estate and infrastructure development.

Broad incumbents

• Unibail-Rodamco-Westfield: Global listed commercial real estate company with operations including shopping centers and offices, including in Morocco. Comparable to Balima in the commercial real estate / asset ownership angle, though at a much larger, more diversified scale.
• Emaar Properties: One of the largest MENA real estate developers (UAE). Comparable to Balima in the underlying activity of real estate development and asset sales, but at vastly greater scale, geographic breadth, and brand reach.
• Aldar Properties: Abu Dhabi-based real estate developer and investor with diversified development, investment, and asset management operations. Comparable to Balima as a public real estate operator with a mix of development and recurring property activities.

Direct peers

• Compagnie Générale Immobilière (CGI): Moroccan real estate company engaged in property development, promotion, and sales. Closely comparable to Balima in operating segment, Moroccan footprint, and target customer base.
• Alliances Développement Immobilier: Major Casablanca-listed Moroccan real estate developer focused on residential and mixed-use projects. Comparable to Balima in geography, listing venue, and core business of real estate development and asset sales.
• Immorente Invest: Casablanca-listed Moroccan REIT focused on rental residential and commercial property. Directly comparable to Balima in Moroccan real estate exposure and listed-equity structure, though more income/REIT-oriented.
• Douja Promotion Immobilière (Groupe Addoha): Morocco's largest listed real estate developer, also listed on the Casablanca Stock Exchange. Directly comparable to Balima as a Moroccan listed real estate operator with similar end markets (residential/commercial development and sales).

Regional players

• Dar Al Arkan Real Estate Development: Saudi Arabia-listed real estate developer focused on residential, commercial, and land development. Comparable to Balima in real estate development and asset sales, but serving a different (Gulf) geography.
• Nexity: France-listed integrated real estate developer covering residential, commercial, and services. Comparable to Balima across the real estate value chain (development + services/asset sales), although operating in the French market rather than Morocco.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Societe Immobiliere Balima