"New phase" for Moroccan property market

Article Date : 23 November 2007
News Section: Morocco

A new phase of property development has been outlined by the Moroccan government.

As reported by Magharebia.com, a national homebuilding programme is set to construct 150,000 new council homes a year.

Lasting for five years, the scheme intends to make the most out of the current "favourable investment environment" within the country, Tawfik Hijra, housing minister for the government, told the news provider.

The news comes as the Moroccan National Tourist Office recently announced plans to target consumers in the UK through a new promotional drive including print, poster and television advertising, reports TravelMole.

Mr Hijra indicated that the homebuilding programme has the backing of King Mohammed VI and sufficient investment from the financial support will be available.

"This is a programme which has everything going for it, including a high level of involvement on the part of the private sector," he said in the article.