Property market in Morocco tipped to thrive despite global economic downturn

Morocco is still an attractive location for property investment despite the credit crisis, it has been claimed.

According to Ahmad Al-Ameer, vice-chairman and CEO of Kuwaiti Gulf Holding Company (GHC), Morocco has managed to remain insulated from the global economic turmoil and may therefore be more conducive than other countries to property growth.

"All the world is witnessing a painful bleeding. However, there are countries like Morocco that are not affected by the crisis," Mr Al-Ameer commented.

Construction work on GHC's new $1.3 billion real estate project in Tangiers, Morocco started on Monday (November 17th), highlighting the company's faith in the stability of the country's economy.

Indeed, Mr Al-Ameer said he expected the north African country's economy to grow by six per cent in 2008.
"Morocco's (economic) indicators are positive," he confirmed.

Jane Folliott of Orion Trek Voyages recently intimated that Morocco's temperate climate and transportation links make it a popular location for Christmas holidaymakers.

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