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Morocco Property Investment Specialist

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Things are Really Taking Off in Morocco

Posted in Property News,Uncategorized by Colin Timms Friday May 16, 2008

According to a communique issued by RAM, the company has continued its growth and sustained its economic stability and competitiveness in the market, in a context marked by the increase of competition and high fuel prices. RAM’s international traffic progressed 17% in 2007, while that of Atlas Blue* jumped 55%, the same sources added. According to this document, the company achieved a net income of $14.9 million (USD), while its turnover totalled some USD 1.5Bn, with an increase of 9.6% compared to 2006.

Economic Uplift

Atlas Blue turnover doubled to reach $254 million (USD) in 2007. These results were made possible due to “the mobilization of RAM’s employees, and their commitment and daily efforts,” the communiqué added. RAM said the six first months of 2008, which are characterized by the tough world juncture, made the oil bill soar by 60% for the company. Source: www.map.ma

Footnote:
Colin Timms of Moroccan Sands’ International Property Marketing Department comments: “News that Royal Air Maroc has substantially increased passenger numbers is hardly surprising; these statistics concur with a recent report that estimates visitors numbers will increase by at least 10% per year, to reach 11.8 million by 2012”. He added: “Moroccan property investors, particularly purchasers of properties with buy-to-let strategies, will be reassured by the 55% increase in international passenger numbers by RAM’s low-cost subsidiary, Atlas Blue.

*Atlas Blue currently offer single fares from London Gatwick to Marrakech starting at just £39.