The OPCI in Morocco: A Modern Tool for Real Estate Investment
The OPCI (Organisme de Placement Collectif Immobilier, or Real Estate Collective Investment Scheme) is an investment vehicle that allows access to the real estate market through the purchase of shares, without owning the property directly. It is regulated by Law 70-14 and supervised by the AMMC (Moroccan Capital Market Authority).
Launched in Morocco in 2019, the OPCI has seen rapid growth. There are two types:
- OPCI-GP: for the general public
- OPCI-RFA: for qualified investors
Two legal structures are available:
- FPI (Real Estate Investment Fund): a co-ownership of assets without management rights for investors
- SPI (Real Estate Investment Company): a joint-stock company where shareholders participate in decision-making
Key benefits:
- Greater liquidity
- Attractive tax framework
- Risk diversification
- Professional management
- Secure regulatory environment