Morocco’s Saham Group Enters New Phase in Spain With Madrid-Area Holding Company
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The Arab Post
- . October 15, 2026
- . Update: October 15, 2026 9:24 pm
Moroccan investment conglomerate Saham Group has officially set up a new investment holding company in Madrid. Spain holding company, The acquisition of the company, led by CEO Moulay Mhamed Elalamy, marks a significant expansion of the group’s footprint in Europe beyond its existing RE properties in southern Spain.
This week, Morocco’s private equity market officially moves into the Mediterranean. The diversified European transactions have been placed on ice with the formal registration of a new Spain holding company by Morocco’s Saham Group.
The company, headquartered in Madrid, will offer a special, legal, and regulated framework to oversee the conglomerate’s future investment in Spain. The amount of registered capital is a relatively low €10,000 (MAD 110,000), but financial analysts consider it as an administrative basis of a much wider, undisclosed investment program.
The Saham Group Madrid holding company will be managed by the highest-ranking executives in the parent company, according to corporate registry documents. The new Spanish body will be headed by the current Director of Asset Management of the group, Rim Bensouda Mourri, who has been officially named the president and chief executive of the new Spanish body.
Expanding Beyond Marbella Real Estate
The expansion of the strategic plan is being pushed strongly by Moulay Mhamed Elalamy, the young CEO at age 36, as well as by the fact that the latter is included in the new company’s directors. He is leading the family conglomerate on a new path into financial markets, but at the same time is keeping the group’s hallmark of operating in a discreet manner.
In the past, the Elalamy family has mostly been active in luxury real estate in Spain, especially in the coastal town of Marbella. The newly registered holding company is an overt message that the holding company is moving towards diversified corporate acquisition and financial service business across borders.
This Spain holding company comes at a very active time of restructuring for the Moroccan blue-chipper.
A Legacy of Financial Diversification
Since its creation in 1995 by the former Minister of Industry and Trade of Morocco Moulay Hafid Elalamy, Morocco’s Saham Group has been constantly shaping the financial sector in northern Africa. The group sold its vast insurance business to South Africa’s Sanlam in 2018, and has made strong returns in customer relations, agriculture, education and healthcare.
The conglomerate recently expanded its home turf, creating Saham Bank and making an enormous $793 million buy this year of the Societe Generale Maroc.
The firm is now setting up a direct corporate connection between the city of Casablanca and the European Union with a newly established Saham Group Madrid holding company. The creation of formal operations in the Spanish capital gives the Moroccan conglomerate instant access to the credit markets and institutional expertise of the European Union, which are where the bulk of its capital is found.
The city’s economic developers, Invest in Madrid, state that the city’s legal structures and location continue to make it an excellent place for foreign direct investment. The group can exploit these benefits to safely set up highly complicated acquisitions throughout the continent.
Moulay Mhamed Elalamy has succeeded in securing this corporate beachhead, putting the group in an ideal spot to attract new Spanish investments of value. Financial analysts are watching carefully for policy changes issued by the Moroccan Agency for Investment and Export Development (AMDIE), in order to gain a fuller picture of the dynamic growth of the private sector in Morocco.
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