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Saidia Property buyers benefit from new incentives

Posted in Property News by Michael Kent Wednesday August 20, 2008

As the progress of Mediterrania Saidia marches on many of the popular Saidia property developments are becoming sold out whilst others have only a few units left to purchase. In situations such as this it’s not unusual for the developers to offer incentives to purchasers in order to help them clear remaining stock. And it’s here that the savvy lifestyle investor can take advantage.


Deluxe Riad Properties in Saidia

The developers of the Fairway Riads and The Greens have just launched an incentive package to clear the last few units in their stock.

Buyers in The Greens can now not only benefit from a two year rental guarantee (at 5% net) but also a free upgrade to a deluxe furniture package. But perhaps the most eye catching is the offer of a Citroen or Renault car valued up to 15,000€ for the purchasers use in Morocco. Prices start at £117,000 for a two bedroom/two bathroom unit. For more information go here

Buyers in The Fairway Riads can also benefit from a rental guarantee at 5% (for one year net) and a free deluxe furniture upgrade. The last remaining units here are all situated in the heart of the development and feature 3 or 4 bedrooms and a private swimming pool. The developer here is also offering a highly sought after berth in the Marina FREE with each purchase. These berths are not available for sale and many investors, recognising their worth, bought out the available stock last year. Prices for berths in Saidia are presently around a quarter of the price of similar projects in Spain and are sure to rise once the resort is up and running. For more information go here

Morocco Property Report: 20th August 2008

The truth about the Spain & Morocco tunnel

Posted in Property News by admin Thursday August 14, 2008

At Moroccan Sands we have many people asking us about the proposed tunnel between Spain and Morocco. Several less scrupulous agents use the “existence” of the tunnel in their promotional literature, with some even stating that nit will be complete in the next few years!


Tunnel Vision!

So what’s the truth behind all these stories and will the tunnel get built? And if it does what does it mean for Morocco property buyers?

The idea of a tunnel between Morocco and Spain goes back to the early 1980’s when several studies were launched to look at the technical issues surrounding the project. At first a suspended bridge was proposed but the idea was ditched in 1995 due to safety and security concerns.

In 2007 the idea of a tunnel was resurrected during a visit by the Spanish PM to the King of Morocco and late last year new feasibility studies were undertaken for a Europe Africa link. The final results of this study will be announced in Luxembourg on October 13th 2008.

Preliminary results that the tunnel will be near impossible to construct due to the fact that much of the geology of the area is clay with rock, rather than harder solid rock. The project has been described as 300 times more complicated that the Channel Tunnel link between France and the UK.

Both the Spanish and Moroccan governments support the tunnel as a potential transport hub between the two countries with much of the funding coming from the EU and the World Bank.

The tunnel and its trains would carry passengers and goods between Tangier and Punta Paloma near Tarifa in Spain. The total length of the tunnel would be 37.7km, of which 27.2km would pass under the sea bed.

Construction would take place in three stages and cost an estimated $8 billion. Under the current plan the tunnel would enter into operation in approximately 2025 although in reality this date is likely to slip even further back.

So what does this mean for Morocco property investments? In reality it’s too far away to have any appreciable impact on values but more than that it is a very physical sign of the direction in which Morocco is moving – towards Europe and trade with the world and that’s bound to be good for Moroccan property buyers.

For more information go to : http://www.sned.gov.ma

Moroccan Tourism Figures Continue to Impress

Posted in Property News by Colin Timms Friday August 8, 2008

Morocco Property Report 8 th August 2008

According to statistics of the Tourism Observatory issued the list by French tourists 1.16 thousand tourists, an increase of 11 per cent, while the number of tourists Spaniards 787 thousand tourists, registering an increase than the national average by 21 per cent, while the number of 170 thousand British tourists, the number of Italians 151 thousand tourists, and Belgians 147 thousand and 123 thousand Germans, Dutch and 99 thousand, and the remainder distributed among different nationalities, particularly Eastern Europe, Russia and the United States and Arab countries.


Impressing the Market!

Despite recording growth figure in arrivals, especially from countries of Western Europe, thus surpassing what has been achieved in recent years, but this development is not matched by similar development in s tourist accommodation. In this regard, the same source said that the number s board authorized by the tourist accommodation establishments classified, witnessed a decline by 4 per cent, to $ 8 million for an overnight night, in the first half of the year, 8.35 per cent, compared with the same period of 2007 .
It attributed the decline in the tourism sector s residence, compared to the high number of tourists coming to the emergence of other types of tourism accommodation, any guest houses and tourist stays, the patterns are not counting s residence, or partially incorporated into official statistics.

The Marrakesh, in particular, the largest proportion of guest houses, and an estimated 750 homes, including 421 classified and contain these institutions to 5750 beds, a 18 per cent of the residential capacity of the city. There are 75 per cent of these homes in the medina.

The record decline in the number of overnight tourists s French, who constitute the first traditional export markets for tourists, 38 per cent of the Registrar to the number of nights last June, while a drop in the number of overnight tourists Britons s 21 per cent, Germans 13 per cent, was lower S residence for the markets of major negative impact on the evolution of the product s residence, in the period concerned.

On the other hand, got a positive impact on the level of resident tourists, registering 1.5 million overnight stays the night, an increase of 9 per cent.

During the four points, among the major destinations, a rise in the number s residence, compared with the same period in 2007. In this context Casablanca recorded an increase of 10 per cent and 5 per cent of Tangiers, Fez, Rabat and 4 per cent, at the time of drop in the number of hostels in each of Marrakesh by 8 per cent, Agadir and 9 per cent, Ouarzazate and 9 per cent. The last three destinations, more than 70 per cent, tourism at the national level.

On the other hand, retreated fill rooms with five points, which moved from 50 per cent to 45 per cent, between the two periods. And Marrakesh and Rabat recorded the highest ratios fill rooms at 59 per cent and 58 per cent respectively, followed by Agadir to 54 per cent, and Casablanca by 52 per cent, and Tangier at 51 per cent.

Morocco is planned, since in 2002, with the launching of the “Vision 2010” tourism to attract 10 million tourists in this horizon, require enormous preparation for doubling capacity, adding 130 thousand hotel beds in institutions, from various grades, increased approximately 100 thousand beds , Were already available, namely the lifting capacity to 230 thousand residential beds.

And establishing itself this plan, which is expected to begin in the first hotels opening, effective next year, thanks to what is known as the Blue scheme, which includes the construction of six stations Astjmame in the Mediterranean and Atlantic coast, the total investment of up to 70 billion dirhams.

With thanks to: 2morocco.blogspot.com

International Monetary Fund Praises Morocco’s Economic Performance

Posted in Property News by Colin Timms Tuesday August 5, 2008

Morocco Property Report 5th August 2008

IMF Managing Director calls Morocco “a pillar of development in the region”…


Morocco’s Economy: Performing Well

In a statement released this morning, International Monetary Fund (IMF) Managing Director Dominique Strauss-Kahn called Morocco “a pillar of development in the region” and congratulated King Mohammed VI and the Central Bank on Morocco’s continued strong economic progress and effective management of monetary policy.

In spite of an increasingly challenging global economic climate, Morocco experienced nonagricultural GDP growth of 6.6 percent in 2007, and the IMF expects continued nonagricultural expansion of the Moroccan economy.

In a report issued earlier this week, the IMF noted that Morocco’s financial sector is “sound and resilient to shocks,” and that the “remarkable fiscal consolidation efforts of recent years” have allowed the Moroccan economy to absorb the impact of difficult international economic conditions and increasing global prices for essential commodities such as petroleum and energy.

“The IMF’s report highlights the ambitious and multi-faceted economic reforms that have been in place for years now in Morocco,” said Ambassador Aziz Mekouar, Morocco’s ambassador to the US, during a press conference on Wednesday. “The results of these reforms are the much needed economic growth and stability which benefit all segments of Moroccan society.”

Ambassador Mekouar noted that among the indicators of Morocco’s economic progress are its Free Trade Agreements with key economic partners, including the United States, which open tariff-free Moroccan goods to a market of over 1 billion people worldwide.

International economic experts recognize that Morocco’s exemplary economic performance is beneficial not only to Moroccans, but also for the nearly 90 million people who live in North Africa, a region also known as the Maghreb.

“Though the five countries of the Maghreb face considerable economic challenges, there is great potential for substantial economic progress and prosperity throughout the Maghreb region,” Ambassador Stuart Eizenstat, former US Ambassador to the EU and Deputy Secretary of the Treasury during the Clinton Administration, told reporters during the press conference. “Morocco stands out as a model of economic reform for the region and for other developing countries.” Ambassador Eizenstat was the leading advocate of the US-North Africa Economic Partnership, which was launched in 1999 and is more commonly referred to as the “Eizenstat Initiative.”

“Morocco stands out as a model of economic reform for the region and for other developing countries. The kind of economic progress that Morocco has made, and which the rest of the Maghreb has the potential to accomplish, is the best antidote to the new threat of terrorism in the region,” Ambassador Eizenstat said.

In what are known as Article IV consultations, the IMF annually evaluates and reports on its member countries’ economic progress. An IMF mission traveled to Morocco in May of this year and met with senior government officials, the Central Bank, and representatives from parliament, the private sector, and labor unions.

Source: Moroccan American Trade and Investment Center/ www.marketwatch.com

Moroccan Sands – Moroccan Property Experts

Tangier Conference Will Focus on Moroccan Real Estate

Posted in Property News by Colin Timms Thursday July 31, 2008

It has been announced that a major tourism trade & investment themed conference is to be held in Tangier, Morocco, on 16 October. The event is being organised by the Middle East Association (MEA) in conjuction with the Moroccan British Business Council. The conference will be followed by site visits to major investment projects in Northern Morocco.


Moroccan real estate development under the spotlight

The conference will take place under the auspices of Moroccan Minister of Trade & Industry together with the Tangier city authorities. The event will feature a Gala Dinner and business networking receptions which will be attended by prominent members of Morocco’s business community.

The Tangier conference follows the successful Britain/Morocco Trade & Investment Conference organised by MEA in October 2007. There will be a strong focus on world-class new developments in Northern Morocco, including the ground-breaking Tangier-Med Port which is transforming the region into major logistical hub and investment destination.

The organisers have announced that the conference will focus on sustainable tourism and Moroccan real estate development and include participation by British services and expertise.

Morocco Property Report 31st July 2008

Morocco Property Sector Boosted by New Government Investment

Posted in Property News by Colin Timms Tuesday July 29, 2008

The Investment Committee, an entity of the Government of Morocco, has just approved 16 new projects worth $2.8 million (USD).


Saidia property benefiting from government investment

It is hoped the invested funds will create 5,767 jobs, according to a press release from the cabinet office of the Prime Minister.

Prime Minister, Mr. Abbas El Fassi, who is chairman of the committee, emphasised the importance of the projects in strengthening the country’s position in North Africa. Much of the new investment resources are being ploughed into infrastructure projects related to tourist sector and the King’s Vision 2010 initiative which is continuing to attract massive inward investment from purchasers of Moroccan properties.

In recent years, Vision 2010 developments such as the vast Mediterrania Saidia property project in Eastern Morocco have benefited greatly from government backed infrastructure projects.

Mr. El Fassi is reported as stating that total investments sanctioned by the committee represented 31% of the Gross Domestic Product (GDP) in 2007 compared to just 25% in 2002.

Since its inception in 1999, the Investment Committee has approved 421 investment projects, worth in total $ 38.5 billion (USD), which in turn has created more than 175,000 new jobs. Projects and investments have touched many sectors of the Moroccan economy, including, tourism (36%), industry (15%) and energy and mines (10.5%).

Morocco Property Report 29th July 2008

Investors thirsty for Saidia property!

Posted in Property News by Colin Timms Friday July 25, 2008

Moroccan Infrastructure Update

Investors in Saidia property will be reassured to learn that an initiative overseen by the Moroccan monarch, King Mohammed V1, means the huge Mediterrania Saidia development will have guaranteed water supplies until 2025 and beyond.


Saidia: Preparing for future demand!

The King visited the city of Saidia last week to check on the progress of a $34.7 million (USD) infrastructure scheme which will meet the future needs of the new tourist resort and neighbouring towns and villages in the Saidia region.

The project supplying Saidia involves the expansion and overhaul of a water treatment plant in the town of Berkane, as well as the construction of a 1000m2 storage reservoir.

Work on the scheme commenced in July 2007, and when complete, will help satisfy the medium and long-term water requirements of Mediterrania Saidia. The project also includes the building of a 21km canal, and the construction of a new reservoir which will have a capacity of 500 sq meters.

Morocco Property Report 25th July 2008

Tunnel Linking Spain and Morocco: Decision Due Soon

Posted in Property News by Colin Timms Tuesday July 22, 2008

An extensive study looking into the feasibility of building a tunnel linking Spain to Morocco is nearing completion. If the study proves positive, a decision to begin construction could follow very soon with work beginning as early as 2010.


Another boost for Tangier property?

However, Spanish official Angel Aparicio who is in charge of the government department overseeing the project is quoted as saying: “The study had revealed some problems that could make excavating the tunnel a challenge”.

The tunnel is a joint initiative between the Spanish and Moroccan governments who see it as a potential transport hub between the two countries. The entire project is expected to take at least 15 years to complete at an estimated cost of $8 billion.

If the tunnel does get the go ahead, it will be the first time the two continents will be linked since the land-masses drifted apart millions of years ago.

Comment
Speaking purely from an investor’s point of view, it is hoped that any geological problems can be overcome. Needless to say, the construction phase of the tunnel will create thousands of local jobs on both sides of the Straits of Gibraltar.

The boost to the economies of Morocco and Spain could be significant, with long term gains to the local economies either side of the strait echoing the successes enjoyed in Britain and France after the building of the Channel Tunnel.

A tunnel will also attract more visitors and specifically, more investors in Morocco property to this already booming tourist destination. Those who have already invested in Moroccan real estate have enjoyed healthy profits in recent years. For example, Tangier property prices are currently increasing at 15% per annum.

Just south of Tangier, developments such as the prestigious Emaar Tinja Resort and the luxurious Al Houara Resort (Pictured) are attracting many investors; world beating civil engineering projects like the proposed tunnel, will not only fire the public’s imagination, but if the tunnel gets the green light, will further fuel the demand for Morocco property developments and specifically, Tangier property projects.

Morocco sitting pretty in survey of 2008 top ten investment hotspots

Posted in Property News by Colin Timms Thursday July 17, 2008

A survey of the top ten countries that overseas property investors find most appealing in 2008, has recently been conducted by real estate investment magazine, Jet-to-Let.


Morocco Property: Sitting Pretty

The survey was carried out to gauge investor intentions in 2008. The survey involved the sampling of a thousand new subscribers to their quarterly magazine.

Jet-to-Let conducted a similar survey last year and the comparison shows that there is a continued shift away from the British buy-to-let market towards overseas property investments.

More than 50% of those surveyed indicated that they would invest in an overseas property within the next 2 years, with just under 36% saying they intend to buy a property abroad in the next 12 months.

Cyprus, somewhat surprisingly, was the number one country in the survey. It would seem that the chronic drought which has lasted for nearly 2 years and has necessitated water being shipped in from mainland Greece has failed to dent investor confidence.

Perhaps less surprising is that former favoured destinations of Bulgaria and Poland have slipped out of the top ten. This could be because they are no longer regarded as the bargain basement countries they once were; the strength of the euro over sterling hasn’t helped in this respect.

The survey results bring encouraging news for investors in Moroccan property, with the country remaining firmly in the top ten for a second consecutive year. This finding ties in with recent statistics that show that Morocco continues to attract record numbers of visitors which in itself, augers well for those buying properties in Morocco with a view to letting them out to the expanding tourist market.

Overall, the survey indicates that interest in overseas property investment shows no sign of waning. This continuing trend is being boosted in part by Britain’s inflated housing market and the decline in returns from the domestic buy-to-let sector, compared to healthy returns in overseas investment arenas.

Reacting to the survey, Sales Manager of Morocco specialists Moroccan Sands, Tom Browning, said: “The ongoing demand for Moroccan property, particularly the interest shown in spectacular new developments such as Emaar Tinja and the sumptuous Al Houara Resort which are both close to Tangier, shows no signs of abating”. He added: “I am confident that if this pattern continues, Morocco will easily top the list in next year’s survey”.

Brother of Moroccan King Attends Mediterranean Summit

Posted in Property News by Colin Timms Monday July 14, 2008

The brother of King Mohammed V1, Prince Moulay Rachid attended the inaugural summit of the Union for the Mediterranean in Paris on behalf of the Moroccan Monarch.


The King’s vision has created Morocco property boom

The summit held over the weekend, was initiated by French President Nicolas Sarkozy with the goal of creating harmony and prosperity among the Mediterranean rim countries.

It is understood that the king decided not to attend the summit on Sunday because of other commitments, but he is reported to be fully behind the aims of the new union.

In total, heads of state from 43 countries around the Mediterranean participated in the summit in addition to a number of regional and international organisations.

Those attending discussed a host of issues including economic development, collective security, energy matters, environment protection, educational strategies as well as pressing political concerns.

Mr Sarkozy welcomed the presence of Greece alongside Turkey, Arab states alongside Israel and Morocco alongside Algeria: The French President said: “The alliance would not be “north against south, not Europe against the rest but united”.

Comment: The importance King Mohammed has placed on the participation of his country within the new union goes hand in hand with his vision to create a modern, dynamic nation which will be a key political and economic driving force in the region.

The ongoing surge in visitor numbers, thriving economy, and the massive investment in infrastructure to accompany the recent Moroccan property boom, are clear manifestations of the success of the king’s initiatives.