Funky Cool Medina
Article Date : Monday, March 06, 2006
Taking shape on Morocco’s Mediterranean coast is the first of six major new resort developments that form part of the Plan d’Azur
Backed by the country’s King Mohammed VI and the Moroccan government in a bid to increase the annual number of tourists visiting the country from two million to ten million by 2010, Plan d’Azur is a €1.6 billion Mediterrania-Saidia flagship project along a six kilometre stretch of the 14 kilometre golden sandy beach at Saidia, a quiet seaside town long-established as a holiday favourite by Moroccan families.
The 700-hectare (1,730 acre) resort is located in an agricultural area 40 minutes by road from Morocco’s international airport at Oujda. By 2007 the airport is expected to be a new destination for budget airlines flying direct from the UK in less than three hours.
Mediterrania-Saidia is one of three brand new resorts, but details of the others, close to the Atlantic coastal towns of Larache (south of Tangier) and Essaouira (east of Marrakech) are still under wraps. All three form part of the King’s Plan d’Azur to encourage tourism.
At Mediterrania-Saidia, where a total of 3,000 homes are planned, investors can buy apartments, villas, apartment hotel properties and land for building. Gerry Jones, a partner of Saffron Villas, reports that properties of all types are selling well off-plan and, for investors, the attractions are significant.
“Capital appreciation is rocketing with the prices of new properties rising by more than 30 per cent annually,” she says. “Investors can benefit from exemption from rental income tax for five years, no capital gains tax if the property is sold after 10 years, and no inheritance tax.”
Work has started on the construction of six hotels and other accommodation for tourists, which will provide almost 30,000 beds when Mediterrania-Saidia is fully completed in 2009. Also taking shape is a brand new marina with moorings for 750 vessels. Occupying an area of 29 hectares (71.6 acres), the marina will make Saidia – located due south of the Almeria region of Spain – a new destination for European sailing enthusiasts. It will have customs and immigration posts as well as boat repair and refuelling facilities.
Elsewhere in the resort will be a commercial centre with shops, restaurants, bars, fitness and beauty centres, as well as an aquapark, sports facilities and a medical centre. A 1,000-seater conference centre and heliport are included in the scheme.
Already in place is the first of 17 club-style restaurant bars along the length of the beach and work is in hand to create 17.5 hectares (43 acres) of green areas and 39.5 hectares (97.6 acres) of parkland within the resort. Alongside it is a coastal conservation area that is a haven for wild birds.
Source: New Skys News. Skynews.co.uk. March 2006
To view one of the Mediterrania Saidia's most stunning developments, please take a look at the full IPIN investors report for the amazing Oasis Beach & Golf Resort, by and becoming a free IPIN member today!
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