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Morocco Investment Brief
Morocco's Vision 2010 Program
A vibrant and exotic country that has attracted high profile real estate investors including Richard Branson, the Rolling Stones and Malcom Forbes, Morocco offers the convenience of southern Spain at significantly lower prices. In recent years, tourists and investors alike have begun to realise that Morocco has much to offer. It's welcoming people and natural beauty have helped to put Morocco at the forefront of the overseas property market over the past 10 months.
As well as the cultural cities of Marrakech, Casablanca, Fes and Tangiers, Morocco offers an abundance of pristine coastline along both the Atlantic and Mediterranean Sea which is attracting buyers looking for a quieter and more beach orientated way of life. Stunning vistas and golden sand beaches are being sensibly and responsibly developed with most resorts developers only permitted to build 3 story structures within the resort. This is in marked contrast to other 'package tour' casualties such as Sunny Beach Bulgaria and parts of the Spanish coastline.
In 1999, Prince Sidi Mohammed was declared King of Morocco. After his enthronement, the King revealed his ambitious development plans for the country. In 2001, the Moroccan government presented Vision 2010 as Morocco 's national tourism strategy. The main objectives were to attract five times as many visitors in 2010 as in 2002 and to create 600,000 new jobs in the tourist sector.
In conjunction with Vision 2010, the Moroccan government has also announced the Azur Plan. The key elements are:
The creation and development of 6 new state-of-the-art coastal resorts (5 on the Atlantic Coast and 1 on the Mediterranean Coast). Additionally:
New Motorways to be built or upgraded
New Regional Airports to be either built or upgraded
Increase and de-regulate incoming flights from all over Europe with the introduction of an Open Skies policy
New marinas and ports and high-speed trains to be implemented
The construction of a tunnel linking Spain and Morocco under the Straits of Gibraltar.
It is widely predicted that the costal property market in Morocco is set to boom. UK tourism has increased by some 18% between 2004 and 2005 alone.
The Azur Plan's six coastal resorts
Mediterrania-Saidia This is the only Azur Plan resort on the Mediterranean coastline. Launched in late 2005, prominent Spanish property developer Fadesa is integral to the construction of this ¤1.6 billion, 7,000,000 sqm real estate project, earmarked for completion in 2009. The real estate projects within Mediterrania-Saidia have been a phoenominal success with many selling out completely in record time. Fadesa has sold several plots within the development to private developers. International Estaes is currently marketing several excellent resort complexes within Mediterrania-Saidia on behalf of the Developers.
Port Lixus Situated near Larache on the northern Atlantic coast, this Azur Plan resort is due to be launched in late 2006 and will include two 18-hole golf courses, a new marina, a sports & leisure complex, several hotels and luxurious apartments and villas. A Belgian-Dutch consortium, is integral to the construction of this ¤1 billion, 4,620,000 sqm real estate project, earmarked for completion in 2011. International Estates will begin marketing Port Lixus properties in the autumn of 2006 on behalf of the developer.
Mazagan Situated near El Jadida on the Atlantic coast, south of Casablanca . This Azur Plan resort is due to be launched in late 2006 and will include a world class casino, two 18-hole golf courses, over 15 kilometres of beach and several hotels and luxury properties. The main consortium developer for this real estate project is an American/South African company with a long track record of high profile projects including Sun City in South Africa.
Mogador Essaouira Also due to be launched in 2006, this 5,700,000 sqm Azur Plan resort will include two 18-hole Gary Player golf courses, very luxurious properties and hotels. Situated within 3 kilometres of the mythical beach town of Essaouira , this resort is perfectly placed to become the premier beach destination for Marrakech holiday goers. Consortium leader for this project is a Belgian-Dutch consortium.International Estates will begin marketing Mogador Essaouira properties in the autumn of 2006 on behalf of the developer.
Taghazout A consortium comprising an American real estate investment firm and a large Canary Islands based residential tourism company , has been awarded development rights to this $2 billion tourism infrastructure project near Agadir on the southern Atlantic coast. Designed as a world class tourist destination, the development will include several four and five star hotels, two golf courses, and several residential, leisure and retail facilities. Phase 1 properties are due for completion in 2008.
Plage Blanche not yet awarded or launched.
United Arab Emirates companies major developments & investments in Morocco
King Mohammed VI has also made steady progress in attracting other high profile international developers to invest in Morocco .
Dubai International Properties, the overseas property development arm of Dubai Holding, and Emaar Properties together will fund new projects announced in early 2006 worth $18.9 billion to begin within the next three years as part of an overall investment of $ 20 billion.
These new projects include golf and ski communities near the Atlas Mountains as well as Atlantic coast Riviera-style living and luxury spas and resorts. Other areas of development include the capital, Rabat, and the valley of Bouregreg, the river that separates Rabat from the city of Sale.
In the Marrakech area, millions of dollars have been allocated for projects in the upper Atlas mountains and areas surrounding the mystical terracotta-colored city.
The chairman of Emaar properties, Mohammad Ali Al Abbar, has this to say about Morocco It has distinctive natural beauty, from rocky coast to snow-capped mountains, and a climate conducive to year round outdoor living and leisure. As a destination and a place to live it is increasingly sought after.
International will be working with Emaar in the upcoming commercialization and marketing of their various resorts including Amelkis II near Marrakesh and Tinjah near Tangiers.
Key Reasons why investment in Morocco makes excellent sense:
Property prices 50% less than other European resorts
Low cost of living - experience a luxury lifestyle at little expense
Emerging market: Booming property market has captured the attention of saavy investors
Between 0% and 20% tax on any capital gains
0% Inheritance tax to family
No annual property tax for first 5 years
70% mortgages available; mortgage market set to transform as more projects come to completion.
Azur Plan, backed by King Mohammed and the UAE. The six new coastal resorts and associated infrastructure being implemented are planned to contribute to an increase in tourism to 10m visitors by 2010.
Open Skies policy is ushering in low-cost European carriers. EasyJet & Thomsonfly & Ryan Air first to announce new Moroccan routes in early 2006.
Increased tourism generated by the Azur Plan projects will create huge requirement for rental accomodation
Growth: Expect excellent capital growth for early investors & guaranteed rental incomes on some resorts
Safe investment Notary supervised property registration similar to France & Spain ; free hold readily available. |
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| Price |
39,000 GBP (Freehold) |
| Property type |
Apartment, Off-Plan |
| Outdoor features |
Off Road Parking, Garden, Terrace/Patio, Private Pool |
| Property features |
Air Conditioning |
| On-site features |
Communal Parking, Restaurant, Gym, Spa, Supermarket/Shops, Bar, Gardens, Childrens Play Area, Pool, Local Transport, Clubhouse, Tennis Courts |
| Rooms |
2 Bedrooms, 2 Bathrooms |
| Address |
Mediterranea Saidia, Morocco, Africa |
| Transport |
Nearest Postal Town: 7 Minutes by Car |
| Location type |
City Centre, Mountain, Resort, Rural, Sea, Beach |
| Name: | INTERNATIONAL ESTATES uk office |
| Company name | | | Telephone: | +44 (0)1782 303930 (Office hours) |
| Alt Telephone: | +44 (0)7947 465094 |
| Email: | Click here to email the advertiser direct |
| Ref: | mo211 |
| | | Name: | INTERNATIONAL ESTATES spanish office |
| Telephone: | +34 (0)653 725023 |
| Email: | Click here to email the advertiser direct |
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