Real Estate & Construction News in Morocco from Propertyshowrooms.com

Moroccan authorities unveil plan for new city

Sat, 10 Jan 2009 00:00:00 GMT

The construction of a brand new city was officially announced by King Mohammed VI in Morocco yesterday (January 8th).

Located in the northern area of the country between Tangiers and Tetuan, the development is set to cover an area measuring 1,300 hectares and will initially provide housing for about 150,000 people, the Maghreb Arab Presse (MAP) news agency reports.

The Moroccan authorities hope to finish construction of the city, which forms part of a larger scheme to establish new urban areas in the Al Boughaz region, by 2020. It will cost 24 billion dirhams (£1.91 billion).

According to MAP, the new city will contain "several industrial zones, a handicrafts complex, a tourism-oriented area, city facilities and green areas".

The development will not only boost employment and housing opportunities in the north African nation, but is also intended to prevent the over-development of coastal cities by focusing new construction on inland areas.

Property website countrylife.co.uk recently selected Morocco as one its top ten overseas investment markets for 2009.

Visit our off-plan property Morocco page.

Morocco's aviation sector set for boost

Mon, 17 Dec 2007 00:00:00 GMT

The aviation sector in Morocco could be set to grow considerably in the next few years.

According to a report in the Financial Post, a new airport terminal is being developed at the portal in Marrakech.

This will allow the facility to handle a much larger number of passengers, while extra flights are also likely to be launched.

Such a development will have a major impact on property in Morocco and the country's economy, as much of it is driven by its popularity as a holiday destination.

Magharebia.com recently cited official figures showing that the tourist sector had generated thousands of new jobs in Morocco and accounted more than half of overall government investment.

This is a measure of how much importance authorities have attached to the industry, hence the upgrades to its airport and overall accessibility.

Other sectors such as construction will also be set to benefit, as increased tourism will result in the need for more holiday accommodation in popular areas.

"New phase" for Moroccan property market

Fri, 23 Nov 2007 00:00:00 GMT

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.

Moroccan development a "real incentive" for investors

Mon, 20 Aug 2007 00:00:00 GMT

Plans by the Moroccan king to develop the country into a popular coastal resort is expected to attract a number of property developers and investors, it has been claimed.

According to Obelisk International, the availability of low-coast airfares, the country's maturing infrastructure and rising property prices marks Morocco as an emerging market with a great deal of potential.

The firm claims that property experts are predicting house prices will increase by 40 per cent over the next three years, delivering investors a rental yield of approximately ten per cent.

Daniel Shashoua, vice president of property developer Benisha, said: "The Moroccan government's commitment to increase the numbers of tourists is a real incentive for developers and investors alike."

Commenting on the market, Karl Morris, managing director of Simple Overseas Properties, recently said that Morocco offers both buy-to-let and "pure" investment opportunities.

Although still at the emerging stage, the Moroccan property market is beginning to grow "quickly", he added.

Airport expansion 'will boost Oujda's tourism chances'

Wed, 30 May 2007 00:00:00 GMT

Far-reaching development at the Oujda airport in eastern Morocco is proof that the airport owners are committed not only to Saidia town but to tourism in general, a leading property specialist has said.

Sean Cusack, managing director of Le Jardin de Fleur group of resorts on Mediterrania Saidia in Morocco, told Propertyshowrooms.com that the airport is on the verge of being "completely renovated and expanded".

This involves two new runways and a new terminal building that can dock 25 planes at any particular time ? developments that will help boost the local economy through tourism and investment.

Mr Cusack also revealed that two hotel operators have decided to run their own airlines into Oujda.

He pointed out that hotel company Globilia, the owner of Air Europa, has created the Grand Saidia Oasis airline, while hotel group Iberostar, which has its own airline called Iberworld, will also run flights into the city.

"Other possibilities include Virgin Express, GB Airways, and that is everything we know for the time being," he added.

An open skies policy in Morocco means there is no restriction on the number of airlines that are permitted to negotiate landing rights in the country.

Fadesa a step closer to Plage Blanche development deal

Thu, 29 Mar 2007 00:00:00 GMT

Spanish development group Fadesa has been selected by the Moroccan government in the last phase of a tender to build a resort at Plage Blanche, located in the province of Guelmim.

Fadesa's proposed development involves creating hotel units and holiday villages, as well as leisure facilities, such as a golf course and shopping centre.

Access to the resort will be aided by the presence of the regional airport, which can be reached within less than an hour.

If negotiations with the government are successful, Fadesa, which operates residential developments throughout Spain and Morocco, will be able to press ahead with the development, creating around 9,000 permanent jobs.

Construction will last around eight years, although the first hotel is expected to be open to tourists by 2012.

In related news, the Al Hoceima province in Morocco is to receive long-term government investment in order to build up its tourism potential.

The strategy includes the development of a new seaside resort area, including hotels and entertainment facilities.

Tourism Earnings Up In Morocco

Wed, 22 Nov 2006 00:00:00 GMT

As investors watch and wait for Morocco's Vision 2010 plan to come to fruition, it has been announced by the Ministry of Tourism in Rabat this month that income from Morocco's tourism industry's has reached a new high, after increasing by 25.8% during the first nine months of 2006.

Flight passenger numbers for the same period increased by 9% while bed occupancy rates crept up from 49 to 50% this year. As a result, estimated tourism earnings in Morocco will amount to between 4.1bn€ and 4.5bn€, against 3.7€bn in 2005, said the Ministry. It added that tourist numbers would reach 6.5 million for 2006, up from last year's 5.8 million visitors.
As part of the Vision 2010, Morocco plans to encourage 10 million tourists by 2010.

The Moroccan government is currently implementing major changes to the country's infrastructure and developing a large number of giant tourist resort projects in full preparation for this anticipated growth. Property investors in Morocco will be nicely encouraged by the new figures.

Morocco – Full Steam Ahead

Thu, 2 Nov 2006 00:00:00 GMT

Mediterranea Saidia

While intensive construction work continues to create a masterpiece at Mediterranea Saidia, Morocco’s new luxury Mediterranean resort, investors are beginning to realize the sheer scale and impact this ambitious government-backed project is to have in the international property arena. Mediterranea Saidia aims to be an entirely self-sufficient five star holiday resort, with all the beach, sports and leisure facilities of any self-respecting up-market resort of the 21st century.

If you visit Mediterranea Saidia today, an extensive building site awaits you, while cranes crunch away at the earth and blocks are going up fast. Progress is indeed well underway and, if the new Championship Golf Course and Club House now nearing completion are anything to go by, it is clear the constructors have their priorities right, while two more professionally endorsed courses have already been started. Floating pontoons wait in anticipation in the new marina area and the restaurants and Moroccan Medina are all well underway. The resort includes several new 4 and 5 star hotels, including such names as Sofitel, Sol Melia, Barceló, Golden Tulip and Iberostar and these further reflect the prestige the resort is set to enjoy from up-market tourism in the near
future.

Mediterranea Saidia will be set within beautiful landscaped gardens, which are being planted as we speak, while the entire development is surrounded by a bird reserve with marshes, woodlands and breathtaking white sandy beaches. The resort is strictly low density while the government has enforced a ban on further construction for the next 15 years, thereby ensuring sheer peace and exclusivity, at least for the foreseeable future.

Building Progress

Within the first phase, projects such as Magnum, AP6, AP4, AP2 and V2 have reached either roof level or further. Jardin de Fleur will have their show flat open and ready to view in approximately six weeks time on the RT2 plot. The recent release of this plot, named Le Jardin de Fleur-sur-Mer, has attracted much interest and blocks 4 and 5 are firm favourites as they offer frontline golf and sea views, a mere 300 metres from the beach.

Already, many investors have seen impressive growth since their initial deposit payments. Jardin de Fleur has now released 5 of their eleven plots with 2 more to be released within the next three to five weeks. Investors are now urged to watch out for these two new projects which we have been told are going to feature an Aparthotel on plot RT6 and a combination of 110 villas and townhouses on VVT6.

Current Growth

A two bedroom apartment on the original Jardin de Fleur Beach and Golf Apartments which sold at launch stage for approximately £102,000 would now fetch £118,000 meaning a staggering 16% growth in approximately 8 months whilst the 3 bedroom penthouses which sold upon release at £175,000 are now selling for £247,000.

This kind of capital growth is not purely limited to Le Jardin de Fleur as we have seen the similar returns from Fadesa and Oasis Beach and Golf properties. Oasis Beach and Golf Resort is due to start construction in two months and they have also secured one of the commercial units in the main shopping centre to be used as a head office for their Morocco division. This office is also to be an on-site rentals and re-sales centre which is great news to investors.

The Investment Arena

From an investment point of view, it is easy to see the master plan already under way in Morocco. King Mohammed’s Vision 2010 plan intends to dramatically increase tourist numbers from 2 million to ten million by the year 2010. Mediterranea Saidia, along with five other of the King’s resort developments, forms an integral part of this plan. With many luxury beach front hotels drawing a steady flow of well-heeled tourists to the resort – it

Luxury Tourism for Morocco

Tue, 22 Aug 2006 00:00:00 GMT

King Mohammed VI last month chaired the signing ceremony of three conventions relating to the construction of new luxury tourism projects throughout Morocco at a budget of approximately MAD 23 billion (nearly USD 3 billion).

The first convention was signed by Prime Minister, Driss Jettou, and will be launched in January 2007 for the development of the seaside resort of Taghazout at a cost of MAD 2.2 billion as well as the construction of other tourism projects, including the building of nine hotels and several luxury residential complexes, shopping centres and sports centres, at a budget of over MAD 10 billion.

The second convention related to the creation of an integrated tourism project in the Marrakech region. The project, the first of its kind in the Kingdom, aims at building the project "Gateway to Morocco" on a surface of 380 hectares. It includes hotels, shopping centres, luxury tourism residences, golf courses and equestrian sports grounds.

The third convention comprises the building of a tourism investment project in the Tangier region. With the second convention, these projects total a cost of approximately MAD 10 billion and aim at attracting tourists from Gulf countries.
Needless to say, investors are watching these projects carefully with a view to timely investment within this ever-growing economy. The projects will inevitably allow the creation of thousands of jobs in the tourism-related sector as well as give a firm boost to the tourist economy in Morocco.

MOROCCO STEAMS AHEAD WITH INFRASTRUCTURE IMPROVEMENTS

Thu, 27 Jul 2006 00:00:00 GMT

MAP News Agency has recorded some interesting developments in Morocco this month while King Mohammed VI has launched several new initiatives to improve the infrastructure of northern Morocco.

The King has had the pleasure of laying the first stone for the USD 4 million Hotel and Tourism Institute, which will provide training in many disciplines of the hotel and catering industry. The Institute is due to open for the academic year of 2006 to 2007 and is expected to have a positive knock-on effect on tourism and property investment in the area.

The northern town of Al Hoceima has received quite some attention, with the King having launched the construction of a new railway station at the port. This USD 2 million project is intended to facilitate the movement of thousands of Moroccans who arrive from abroad, as well as improve facilities for the fishing industry. Handling some 15,000 tons per year, Al Hoceima is already the third largest port in Morocco and looks set to see improvements to help provide the region with the modern infrastructure and growth potential it needs.

Several new socio-economic initiatives to protect the environment in Al Hoceima and development projects to provide the rural population with drinking water, electricity and liquid waste treatment have also been approved, amounting to a cost of USD 74 million.

In addition, the King has inaugurated a USD 7.8 million two-lane road to cover the 7km stretch from Al Hoceima to Ajdir, an area that in recent years has seen some 15,000 cars per day.

For property investors these improvements are a good vote of confidence and Morocco seems set on an upward trend with a solid and improved infrastructure well on its way. The changes echo the King’s intent on increasing the country’s appeal to both tourists and property investors alike, making it a prime location for investors looking to get a foot onto the ladder of a promising new market.

Le Jardin de Fleur Townhouse phase released

Wed, 26 Jul 2006 00:00:00 GMT

We are pleased to announce the official launch of Le Jardin De Fleur Townhouses, Mediterranea Saidia, Morocco.

This low density phase of development is destined to move very quickly so if you are interested please contact us asap to secure the best units.

Townhouse Phase Overview

• Released officially today, 26th July
• Lowest prices at earliest point of sale, with increases due within the next first 2 months
• Prices from €278,770 to €415,768
• The project consists of 50 townhouses
• All with roof Solarium and private roof-top Swimming Pool’s
• Fully Furnished with a choice of high quality finishes
• Air conditioning throughout
• The properties will be built to a very high standard, with marble flooring throughout and German NOBILIA kitchens.
• Each unit has a waterfall feature cascading to the ground from the roof solarium
• Other facilities include putting green, large communal swimming pool with a small beach, tennis courts, boule / petanque court.
• Luxurious finishes
• Construction timeframe – 2 Years from January 2007

Background Points:

• Le Jardin de Fleur has been the fastest selling product on Mediterrania Saidia
• Inspection trips available subject to refundable reservations being made (Malaga to Saidia)
• 3 x Golf courses, 850 birth marina, commercial centre, Moroccan Rhiad, the most exclusive resort throughout Morocco, being personally supervised by King Mohammed himself

Next Steps

Click the link below to view the full investor report, including site plans, high resolution images, unit floor plans and register your interest.

View full IPIN investor report

Please note that you must be a registered IPIN (International Property Investment Network) member to view this report. IPIN membership is 100% free of charge.

Alternatively contact Propertyshowrooms.com on to speak with an expert investment advisor.

Funky Cool Medina

Mon, 6 Mar 2006 12:42:00 GMT

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 clicking here and becoming a free IPIN member today!