Spanish property company Martinsa Fadesa has sold part of its Moroccan assets to Addoha, its joint venture partner in the country, for a total price of EUR 43 mln. The group has sold plots of lands in Marrakesh and Bouskoura, near Casablanca, which the company said are no longer in line with its strategy. 'These are long-term projects that would require a large investment to pay off land acquisition and project development costs,' the company said in a statement. The assets represent around 30% of the group's total assets in the country, it added.
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