Moroccan Sands announces the launch of the Tinja development by Dubai based Emaar. The partnership between Emaar and Moroccan Sands opens a new chapter in the continuing success story of Moroccan property investment. This ambitious project involves the construction of over 2500 luxury dwellings set in an idyllic coastal location.
Emaar Tinja: Building a Better Morocco
Tinja has been master-planned by Emaar to be a self-sustaining community with upscale retail outlets, hotels, an equestrian centre, a clinic and future international school. When complete, Tinja will be a mix of luxury villas, townhouses and apartments. The development occupies an area with a three kilometre long beach edged by natural woodland. The project’s quiet setting is just a short drive from the lively port city of Tangier and a short car ride from Tangier International Airport and adjoining free trade zone. When complete Emaar are expecting the Tinja resort to be highly sought after by foreign executives and the business class of Tangier.
Emaar are one of the most pre-eminent real estate construction companies in the world; they are included in the 2007 Financial Times’ Global 500 rankings which act as an annual snapshot of the world’s largest companies. Emaar’s current projects in Morocco are worth around US$6.87 billion.
Sales and marketing manager at Moroccan Sands, Michael Kent, comments: “When a company with the global presence of Emaar decide that Morocco is the perfect venue for one of their most ambitious projects to date, people sit up and take notice. Many buyers exclusively opt for Emaar developments for their overseas property investment strategy; the healthy return on investment from Emaar projects, preclude them from considering other developers”.
He added: “Emaar have recognised, along with shrewd overseas property investors, that Morocco possesses a unique combination of factors that put the country at the forefront of potential investment destinations. With a favourable tax regime (including exemption from income tax on rental income for five years), large scale government backing for infrastructure creation and an ambitious programme of resort building, known as the Plan Azur, Moroccan property certainly has the attributes for profitable investment”.
Colin Timms, from Moroccan Sands international marketing department says: “Tangier’s large free trade zone is attracting many multi-national companies to northern Morocco. As the zone expands, more and more professionals from all over the globe will be looking for western standard housing. Investors can expect to benefit from the ever-increasing demand for well located, quality rental properties in the area. He continued: “When complete, Tinja will be just the kind of neighbourhood that will attract big-salaried business people. I’m sure these superbly located Moroccan properties will generate high year-round rental yields, and the ongoing demand for exclusive homes in the area will have a positive effect on resale values”.