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Andy Welland

Bernardo is back today as he stayed longer in Morocco than i expected. I have had a very brief email from him which is as follows.

Sania Plage is on the beach side and is next door to Marina Smir; Fadesa Kabila is on the inland side and is located at a 15 min drive from Marina Smir. Besides that, Fadesa has the policy and ability to launch their projects at a price level, slightly below market prices, due to the large structure of the company and due to the low prices they pay for the land.

Bernardo Retana

Business Development Manager

Property Showrooms

They are not due to release Tinja until October/November this year so we wont get any information on prices until then or the development time period. Best case we will find out about 2 - 4 weeks before the project is released.

Andy 

We have been doing some further research into UAE developers moving over to Morocco and found some very interesting articles on Sama Dubais website (formaly known as Dubai International Properties).

They also are investing heavily into Morocco with 5 - 6 developments in the pipeline.

Below you will find a couple of their press releases from March this year.

Dubai Holding to invest US$ 12 billion in real-estate in Morocco Al Gergawi announces two new exclusive projects in Casablanca

Dubai Holding announced today that it has signed agreements to develop huge real-estate projects worth US$ 12 billion in major Moroccan cities over the next five years. The agreements were signed in the presence of His Majesty King Mohammed VI of Morocco during a visit of a Dubai Holding delegation led by HE Mohammed Al Gergawi, UAE Minister of State for Cabinet Affairs and Executive Chairman of Dubai Holding. The agreements pave the way for Sama Dubai, the international real estate investment arm of Dubai Holding, to develop a series of projects in Morocco in partnership with CDG, one of the biggest Moroccan companies. Two new projects Dubai Towers - Casablanca and Marina de Casablanca - were announced as part of the agreement. Mohammed Al Gergawi said, "I had the honour of meeting His Majesty King Mohammed VI. He welcomed our planed investments in Morocco and assured us that Morocco will support Dubai Holding and UAE companies." He added, "Apart from achieving high growth, the Moroccan Government's policies aimed at diversifying its economy and moving beyond the agriculture sector have met with great success. The Government has also worked hard to develop regulations that made the country more attractive for Arab and Gulf investors. We are very confident of the potential of Moroccan economy under the wise leadership of His Majesty King Mohammed VI." Farhan Faraidooni, CEO of Sama Dubai said, "Morocco has some of the most historically rich cities in the region. It has a favourable climate and a highly-developed tourism infrastructure which make them ideal business and tourism destinations. Over the last few years, the country has also worked to develop itself as an international economic hub." The CEO of Sama Dubai said: "Sama Dubai's projects in Morocco will be spread across its biggest cities including Marrakesh, Casablanca and Al Rabat. The Dubai Towers - Casablanca', the newly announced project worth US$ 600 million, will cover an area of 240,000 sq. m and will include two buildings - a hotel and an office tower. A mall anchored by prestigious brand names will add to the attractiveness of the development. The whole complex will offer office space, residential apartments, and retail and entertainment facilities. "Marina de Casablanca, the other new project worth US$ 500 million, will feature offices, retail and entertainment facilities, marina hotels, residential apartments, promenade and open landscape spaces, over a built-up area of 190,000 sq. m." Amwaj, a massive US$ 2 billion community development project, already in progress in Al Rabat, also forms part of the investment. Dubai Holding, the parent company of Sama Dubai has made significant investments in many sectors across Europe, US, Middle East and Asia through three of its subsidiaries, Dubai International Capital, Sama Dubai and Dubai Investment Group. The last two years has seen a spate of big investments from Dubai Holding including the acquisition of US$ 1 billion shares in DaimlerChrysler, the acquisition of Charterhouse Capital Partners, which owns the Tussauds Group and many tourism and entertainment projects, in addition to investments in leading hotels and properties in big markets. March 13, 2006 Sama Dubai Commences Construction of AMWAJ Project's Sales Centre in Morocco Sama Dubai Commences Construction of AMWAJ Project's Sales Centre in Morocco RABAT, Kingdom Of Morocco, 13 March 2006: Sama Dubai, the international real estate investment and development arm of Dubai Holding, today, announced that it has commenced construction of the sales centre of AMWAJ Project, Sama Dubai's project in Rabat, Kingdom of Morocco. The sales centre signals the start of Sama Dubai' partnership with Caisse de Depot et de Gestion (CDG) and SABR Management, to develop the $2 billion Amwaj project. Amwaj will be built on an area covering 100 hectares in the Bouregreg valley. Farhan Fairadooni, CEO of Sama Dubai said: "We are committed to ensure that each phase of the project is completed on schedule. The sales centre will be constructed within six months while the entire project will be completed by the second quarter of 2009." "AMWAJ will be a complete city that provides all the needs of a modern lifestyle. Set on the banks of the Bouregreg River, Amwaj offers an idyllic tourist, residential and commercial destination. It will feature a marina, hotels, convention centres, multiplexes, various residential units, shopping malls, commercial and residential towers and massive car parks," Faraidooni added. He said, "the collaboration between Sama Dubai and Caisse de Depot et de Gestion and SABR Management will help in the successful implementation of an extraordinary project as the two companies are leading companies in Morocco and have outstanding resources. We look forward to the successful implementation of this project." Commenting on the objectives of the project, Faraidooni said, "Amwaj will be one of the main projects under the `Bouregreg' development. This project aims at putting the Moroccan capital on the map as one of the Mediterranean region's most important cities. The project will boost the commerce and tourism sectors in the city." The Kingdom of Morocco was among the first countries chosen by Sama Dubai to undertake such a project as it has strong potential for growth. The kingdom's ancient cities and long coastline provide exceptional real estate, hospitality and tourism opportunities. Attractive investment policies, a stable economy and a rapidly growing tourism sector combine to make it an ideal destination. Morocco currently attracts 4.5 million tourists every year and seeks to increase this number to 10 million by 2010. Andy