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Morocco Property Investment Specialist

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Morocco Property Report

Tangier Med Port welcomes first containers

The new Moroccan container terminal, 30km outside Tangier, Eurogate Tanger on Wednesday handled its first containership ahead of the start of regular liner services next month.

The first ship at the facility was the massive 8,488-TEU CMA CGM Otello, which discharged five disassembled Kalmar rubber-tired gantry cranes (RTGs).

The first regular service to call at Eurogate Tanger will be kicking off on Oct. 8 2008 with CMA CGM La Traviata, another 8,488-TEU ship. The terminal has 450 meters of quayside and five container gantry cranes. By the end of the year, the quay length will be extended to 810 meters and three more container gantry cranes will arrive in January 2009.

“Although the official opening ceremony of Eurogate Tanger will not be until spring next year, we will be fully operational by the end of this year. We are now starting to handle ocean carriers and will soon increase the number of services,” said Domenico Bagalà, president of the management board of Eurogate Tanger.

Eurogate Tanger is a joint development between German container terminal operator Eurogate and major European shipping lines Mediterranean Shipping Co., Zim and CMA CGM, together with its Moroccan subsidiary Comanav. It will be the major engine for economic growth in the Tangier region and is estimated to create over 100,000 new jobs directly and many more indirectly. Several new large scale manufacturing concerns have already moved to the area to take advantage of the port facilities and the adjacent Free Trade Zone (which allows import and export without tarriffs) including Nissan Renault and Airbus Industries.

Michael Kent of Moroccan Sands added ” The new port will revolutionise Tangier and inject much needed wealth into the local economy. This will undoubtedly have an upward impact on Tangier property prices as expats and middle class Moroccans enter the market. Indeed, in our opinion, this is what makes Tangier such a geat investment – not only are you investing in a city with caché but the growth is based on real economic factors and not reliant on the holiday rental market.”

Saidia attracts more top names

Posted in Property News,Uncategorized by admin Thursday September 25, 2008

The amazing new beachfront resort at Mediterrania Saidia received another vote of confidence from some of the top brands names in the travel industry. The endorsement of Saidia’s potential comes on top of the existing commitments by the SAS Radisson chain and David Lloyd Tennis Academies, amongst others.

Not only does this mean Le Jardin de Fleur investors will enjoy all the facilities of the hotel-operated
resorts such as clubhouses, swimming pools, restaurants and spas, but they will also benefit from a
leaseback system that enables them to earn rental income generated from the year-round hotel

The superior sector of the world’s largest hotel chain, Best Western Premier, is set to manage the formerly named Sur Mer resort (RT-2) which will now be known as the Best Western Premier Le Jardin de Fleur, featuring 126 luxury apartments and penthouses. This manoeuvre gives Le Jardin de Fleur owners access to a worldwide reservation system plus independent marketing through the brand’s international networks and associates. The endorsement of such a well respected name for the Sur Mer apartments is sure to make these exclusive apartments on of the best investments in Saidia property.

“The Best Western Premier hotel brand was launched to provide a higher level of service and amenities together with a characterful dimension. This resort will add to a network of more than 100 Best Western Premier hotels currently located throughout Europe and Asia. We are very proud to be part of the development of the Saïdia resort project, one of the major plans to develop tourism in the country” said Stephane Cremel, Director of Development for Best Western in Morocco. The Best Western Premier Le Jardin de Fleur (previously known as ‘Sur Mer’) will feature 126 luxury apartments and penthouses and is scheduled to open in 2009.

Top Hotel operators recognise Saidia's potential

The Best Western Premier Le Jardin de Fleur resort will offer a lagoon swimming pool, family entertainment, spa, themed restaurant & café-bar, and clubhouse set within landscaped Moroccan gardens, just minutes walk from the beach and golf course. The chain’s powerful global marketing and reservations network will enable the Saïdia destination to maximize on opportunities in the ever growing short-stay and longer-stay leisure markets.

In addition to this, Le Jardin de Fleur signed a management agreement last week with the Marrakech-based luxury hotel operator Hivernage, part of the Great Hotels of the World Group. The Hivernage Resort & Spa (formerly known as “Villas du Soleil”) will feature 76 villa residences with their own private pool, and will open in 2010. Enjoying a tranquil beach and golf position the resort will feature outdoor and indoor lagoon
pools, Moroccan spa, French brasserie, clubhouse and tennis courts.

Morocco is the latest travel hotspot

Posted in Morocco property,Property News by admin Thursday September 25, 2008
Kuoni see Morocco as a market with great untapped potential

Kuoni see Morocco as a market with great untapped potential

Mid-haul destinations, such as Morocco, are the latest travel hotspots, according to Thomson and First Choice’s new Trends Report 2008-09.

More than one fifth of holidays taken with Thomson and First Choice in 2007 were outside Europe, as opposed to just 15 per cent in 2003 and the number is set to rise further in 2009.

Market research company Mintel also confirmed the increasing popularity of countries such as Morocco, Egypt and Middle Eastern destinations including Dubai, Oman and the other Emirates thanks to their mix of guaranteed warmth, lower prices and a touch more exoticism than familiar destinations in the Med.

‘It’s happening across the board,’ says Richard Cope, senior travel analyst at Mintel. ‘The euro is a big factor – people were sheltered this summer by brochure prices which were fixed at the beginning of the year, but prices will rise for 2009, meaning people will look increasingly at countries outside the eurozone. And the new Easyjet routes into Morocco have also made it more accessible. People are competitive about their holidays, and [may feel] there is something a bit old-hat about the Med.’

Mainstream operators are reacting to the growing demand by developing their mid-haul programmes; Kuoni now has stand-alone Arabia & North Africa and Dubai brochures. ‘The mid-haul market is faring well,’ says Anne-Marie Hansen of Kuoni. Morocco is a new entry into the Kuoni Top 20 destinations chart ousting previously established destinations such as Jamaica and Mexico.

Source : The Observer, Sunday September 21 2008

Buy-To-Let Sector Fuelling Demand for Tangier Property

Posted in Property News by Colin Timms Friday September 19, 2008

In recent years, Morocco has emerged as leading hotspot for overseas property investors. Nowhere is this more apparent than in the atmospheric port city of Tangier, where large-scale property developments are changing the skyline of the eastern part of the city.

La Perle de Tangier: Ideal buy-to-let apartments

Happily, for lovers of traditional Moroccan attractions, the new Tangier property developments are well away from the much visited souks, kasbah and medina which are clustered on the hills, close to the port in the central area of the city.

However, the eastern edge of Tangier, a few blocks inland from the golden crescent of sand which is Tangier bay, is currently seeing a boom in new mixed use developments. Much of this frenetic building activity can be attributed to the interest of overseas investors who have identified Tangier as the perfect low cost, buy-to-let destination.

Just a short hop by high-speed ferry from mainland Spain and the British enclave of the Costa del Sol, Tangier has benefitted from the overheating of the Spanish property market, the boom in tourism and influx of big businesses such as Renault and Nissan who have been attracted by the low production costs in Morocco.

This has resulted in an increasing demand for western standard property from Morocco’s new business elite and the swelling expat community who have been drawn to the city by Tangiers’ laid-back lifestyle, low cost of living and pleasant, year-round climate.

One of the most prominent new developments is La Perle de Tangier, a mixed, residential, office, hotel and retail project. Two bedroom apartments at La Perle which come with hydro massage baths, internet access and superb sea views can be bought for around £129,000 (GBP).

Furthermore, the Spanish developer is now selling units with a guaranteed rental of 7% for two years. The guarantee is conditional on the owner purchasing a furniture pack which for a two bed unit is only £2,550.

Apartments at La Perle have proved extremely popular with investors on buy-to-let strategies, and this new rental offer can only add to their appeal.

Morocco Property Report – 19th September 2008

No Credit Crunch for Morocco Property Buyers…

Posted in Property News by Colin Timms Friday September 19, 2008

Morocco is immune to the sub-prime meltdown, claims minister…

Economy and Finance Minister, Salaheddine Mezouar said on Thursday that Morocco is immune to the sub-prime meltdown affecting many countries. He asserted that for several reasons, notably the fact that Morocco’s financial sector doesn’t hold loans or securities in financial institutions or international investment funds affected by sub-prime lending.

Crisis, What Crisis?

Addressing a cabinet meeting on the recent developments of the nation’s economy and the international environment, Mezouar said that Morocco property loans in are mainly of the fixed interest variety with the possibility for variable interest rate loan beneficiaries to opt for fixing rates under well regulated and predictable conditions.

“The financial status of Moroccan banking institutions has shown significant improvement in recent years, mainly thanks to the tightening-up of banking supervision and the stabilisation of the public financial sector”. The minister said, adding, “The upsurge in energy and food products had impacted on Morocco’s balance of payments and public finances”.

However, he stated, “Thanks to government support through the compensation fund, the effects of this upsurge has had negligible impact on our citizen’s purchasing power”. The minister concluded, “In real terms, GDP rose by 7% and 6.7% respectively in the first two quarters of 2008 which would allow for an estimated growth rate of 6.8% this year”.

Morocco Property Report 19th September 2008

IMF report: Moroccan economy largely unaffected by global downturn

Posted in Property News by admin Thursday September 18, 2008

According to a report by the International Monetary Fund, published on Tuesday, the Moroccan economy remains in good shape despite the current economic turmoil affecting many parts of the world.

It’s not just property for sale in Morocco!

The IMF report stated that with stronger public finances, a more diversified economy and a sound financial sector, there is no reason why Morocco cannot continue with its economic progress.

The report stressed that in recent years Morocco has made major progress with increased economic growth which has strengthened the economy’s resilience to global setbacks. The report stated that these gains reflected continuing structural reforms, sound macro-economic policies and good opportunities provided by globalization.

“Robust tourism receipts and remittance flows have mostly offset the negative trade balance, and with strong capital flows, external reserves rose from $22 billion at end-2006 to $26.5 billion at end-May 2008, equivalent to 6.4 months of 2009 imports of goods,” the report added.

Moroccan Sands – The Morocco Property Experts

18th September 2008

Low-cost carriers new air hub welcomed by Morocco property buyers

Posted in Property News by Colin Timms Wednesday September 17, 2008

Low-cost airline Air Arabia based in Sharjah in the United Arab Emirates are reported to be expanding their operations by launching a hub in Morocco.

Morocco property to get low-cost boost

According to the Khaleej Times, the new hub will be in Morocco’s capital, Rabat and is scheduled to commence operations in the first quarter of 2009.

Air Arabia say that the new hub represents an ideal opportunity to reach the fast-growing markets in North Africa and across the Mediterranean into Europe.

It is understood that the airline has placed an order for 49 new Airbus A320 aircraft to replace its current fleet of 10 A320s. Air Arabia’s CEO, Adel Ali is quoted as saying, “we might need more A320s for the new hub in Rabat which will require its own fleet”.

Modelled on leading European and American low-cost carriers, the airline has been in operation since 2003. Air Arabia is the largest low-cost operator in the Middle East and North Africa.

It is hoped that the airline will eventually open routes to both Britain and Ireland where the demand for low-cost air fares is being fuelled by the ever-increasing numbers of investors who are purchasing Morocco property.

Leading UAE developer announces new Tangier property project

Posted in Property News by Colin Timms Wednesday September 10, 2008

The vibrant Tangier property sector has been further boosted by the news that Gulf Holding Company (GHC) has just announced its entry into North Africa with a massive $800 million project in Northern Morocco.

Tangier Port with Cap Malabata in the distance (right)

GHC has acquired the 600,000m2 Royal Resort Cap Malabata development and is to build a prestigious mixed use project called, Villa Royale.

When completed, the project will consist of 400 residential units, a health clinic, an international school and an equestrian centre.

Villa Royale is less than 20 minutes away from Tangier city centre, and enjoys fantastic vistas of both the Med coast and the Straits of Gibraltar and beyond to the coast of Southern Spain.

Other projects currently underway in the Cap Malabata area include Malabata Hills and the luxurious Les Jardins de Malabata residential development.

As well as its convenient location, close Tangier Port with its fast ferries linking Africa to Europe, Cap Malabata also benefits from being within easy reach of the new La Perle de Tangier business, retail and residential complex, taking shape on the eastern edge of the city.

Morocco Property Report – 10th September 2008

Marrakech property riding on the crest of a wave

Posted in Property News by Colin Timms Tuesday September 9, 2008

Just imagine it…owning a beautiful Marrakech property with its very own sea view. It sounds like an ideal combination…. Unfortunately, Marrakech lies some 160 kilometres inland from the coast, so unless you happen to be blessed with superhuman vision, sea views are absolutely out of the question!

Making Waves in Marrakech…

However, all is not lost… owners of properties at the new Al Johara Resort near Marrakech will soon be able to enjoy what is believed to be Morocco’s first wave pool.

The developers of this amenity packed family resort are investing hundreds of thousands of euros in a state-of-the-art wave generating pool complete with swaying palms and a white sandy beach.

Ok, so we are not exactly talking “Marrakech on Sea” here…but this fantastic wave pool, capable of producing 4-6 sizable waves per minute, is sure to be a hit with the whole family. However, if they get bored playing surfer dudes, the Al Johara Resort has plenty of other distractions.

On-site there is a nine hole golf course with practice greens and a driving range, a tennis academy, equestrian centre, Moroccan cookery school, fully equipped gymnasium and health spa.

Those who prefer to float serenely on an airbed sipping a cool cocktail will be pleased to know that the Al Johara Resort also has an abundance of non-wave generating swimming pools!

Morocco Property Report – 9th September 2008

New Nissan and Renault car plant announced for Tangier

Posted in Property News by Colin Timms Wednesday September 3, 2008

In another move that highlights the growing economic strength of Morocco, carmakers Renault and Nissan have announced that they are joining forces to produce up to 400,000 vehicles in a new manufacturing complex to be built near Tangier in Northern Morocco.

Tangier: Becoming more than just a tourist destination

The complex will be within the free trade zone, located close to the recently upgraded Tangier International Airport. The joint venture is the largest manufacturing project undertaken by the two car making giants. When fully operational the complex will produce a new range of light vans for Nissan and low cost cars for Renault.

Carlos Ghosn, who is chief executive of Renault and Nissan said, ‘We’re talking about a whole set of cars that are competitive and will be exported from this platform’.

At the weekend, the two car makers signed a memorandum of understanding with Morocco’s government for the project which is the country’s biggest car facility to date, and one of the Mediterranean region’s largest.

Renault and Nissan are to invest €600m into the venture, with a further €200m-€400m to follow, depending on the vehicles produced. When complete, the new facility will have the capacity to manufacture 200,000 vehicles from 2010, with capacity later rising to some 400,000 vehicles.

Moroccan Sands Comment: Projects such as the newly announced car plant, the huge new Tangier container and passenger port and the millions of dollars being spent on upgrading Northern Morocco’s infrastructure, are turning the Tangier region into a boom area. This massive investment is being matched by the millions currently being ploughed into the new wave of Tangier property projects.

Developments such as the Al Houara Resort and the bargain priced, Atlantic Golf Resort (From €73,000) just south of Tangier, look set to benefit from both price uplift and enhanced rental potential created by the expected demand for quality rental accommodation from the new business elite relocating to the area.

Morocco Property Report 3rd September 2008 –