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Morocco Property Investment Specialist

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Morocco Property Report

Morocco and France sign $790m agreement for TGV project

Nov 2008 – Morocco and France signed a $792m protocol to finance the rolling stock and railway equipments of Casablanca-Tangier high-speed train (TGV).

The agreement was signed by Moroccan minister of Economy and Finance, Salaheddine Mezouar and French Secretary of State for Foreign Trade, Anne-Marie Idrac.

The original Protocol of Understanding on the TGV between Casablanca and Tangier was signed in Marrakech in October 2007, under the chairmanship of King Mohammed VI and French President Nicolas Sarkozy and is part of a country wide plan to link all the major cities with high speed links.

The TGV project, which provides for the construction of a high-speed line (from 200 to 320 km/hour), will reduce travel time between Tangier and Casablanca to 2 hours and 10 minutes instead of current 5 hours and 45 minutes.

This is great news for Tangiers property investors as a high speed link between the country’s two major business hubs will undoubtly have an upward effect on prices in the northern city of Tangier.

Book now! Mediterrania Saidia Resort to be open for next summer.

Posted in Morocco property,MP,Property News,Property Updates,Saidia property,Uncategorized by admin Wednesday November 19, 2008

At  meeting in Palma, Mallorca last week all the major players in the fabulous five star resort “Mediterrania Saidia” signed a memorandum of understanding that the resort will be ready by June 2009. Under the agreement FADESA Maroc will deliver the two hotels it’s currently working on in March and April next year – giving ample time to train staff before the summer rush.

Harbourside cafes are already open

Harbourside cafes are already open

An extensive marketing plan for the resort was also agreed and will be implemented in conjunction with the Moroccan Tourism Board and hotel operators, Barcelo and Iberostar. Michael Kent of Moroccan Sands added “We been extremely impressed by the recent progress in Saidia , the direct motorway link to the airport is complete and I think the first visitors will be bowled over by what’s on offer. We’ve been involved with Saidia from the start and it’s tremendously rewarding when milestones in the project such as this are reached.

The outlook for rental property in Morocco remains strong

Posted in Morocco property,Property News,Saidia property by admin Wednesday November 19, 2008

A frequent fear of many overseas buyers is that as economic conditions tighten it will become harder to make a rental return from their investment. Whilst this may be true in certain overhyped destinations such as Bulgaria and Dubai it certainly isn’t true in Morocco.

Since colonial times the French influence remains strong

Since colonial times the French influence remains strong

This is because tourist numbers to Morocco are dominated by the French who make up nearly 70% of all arrivals and France is currently the only eurozone country still experiencing growth in the last quarter. Even if the French economy takes a downturn the level of state benefits is such that most families will continue to holiday as normal and the opening of ever cheap ways to travel between the two countries will enhance this further.

Recent evidence from the UK also suggests that Morocco is well placed to benefit as respondents to a survey suggested that it would be the traditional “bucket and spade resorts” on the Costas which would be worst hit as they were perceived as the most overpriced. Morocco was viewed favourably as it offered an exotic destination with value for money – a combination most travel industry experts believe will become increasingly attractive in the future.

Another boost for Moroccan tourism

Posted in Morocco property,MP,Property News by admin Wednesday November 19, 2008

In addition to their strategic plans “Vision 2010” and the Plan Azur the Moroccan government announced on 18th November a further $95 million dollars for the tourism sector. This massive amount dwarfs anything spent elsewhere and should be viewed as a further sign of confidence in the long term aspirations of Morocco.

Michael Kent, Managing Director of leading Moroccan property company Moroccan Sands commented, “ This once again shows why Morocco is the only overseas destination that deserves serious consideration from investors. There’s such an enormous amount of investment flowing into the country from the Gulf and Europe that growth, even in these constrained times.”

Indeed the figures support this assertion – for whilst most of Europe and the US is forecasting minimal or even negative growth Morocco predicts a year of continued growth, with the latest estimates (Oct 2008) at around 5.8%. Indeed this figure could be set to rise once the lower cost of fuel filters down through the economy.

Mohammed Boussaid, the Moroccan Minister of Tourism, also added that due to the policies put in place by the government (such as developing resorts in virgin areas and the new flight route agreements) would enable Morocco to survive and prosper in these difficult times.

Which is all good news for people buying property in Morocco as greater prosperity will stimulate not only the domestic market but also continue to attract overseas buyers.

Moroccan economy ‘most interesting’

Posted in Morocco property,Property News by admin Wednesday November 19, 2008

The economy of Morocco is the “most interesting in North Africa in terms of growth potential,” said Dominique Gautier, a partner in the Munich-based “Roland Berger Strategy Consultant” which has an office in Casablanca, Morocco.

Moroccan Finance minister Salaheddine Mezouar

Gautier who explained to “The Financial Times” the reasons behind opening a branch in Morocco noted that Morocco offers great opportunities for consulting companies. Roland Berger Strategy Consultants is one of the world’s leading strategy consultancies with 36 offices in 25 countries, the company has successful operations in all major international markets.

“As well as helping local companies such as Royal Air Maroc with their ambitious pan-African strategies, the consultancy has just finalized a new sports strategy for the kingdom of Morocco,” Gautier said.

The FT stressed that international consultancies are reporting steady or strong growth in their African businesses, adding that only China receives more investment than the MEDA countries (in which Morocco is a major partner).