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IMF Predicts Steady Economic Growth in Morocco…

Posted in Morocco property,MP,Property News,Saidia property,Uncategorized by Colin Timms Tuesday December 22, 2009

imf-1With many countries officially coming out of the global recession, in particular, several of Morocco’s key Eurozone trading partners, a recent mission to Morocco by the International Monetary Fund (IMF) has forecast that Morocco is set for a period of steady economic growth.

The largely positive conclusions of the IMF mission which  visited Rabat from November 2-13, will be welcomed by Morocco property buyers. The news will be especially encouraging to those who have, or are close to completing on their Moroccan property purchases and who intend to let out their properties with the aim of attracting rental income from the lucrative Moroccan  professional sector who are prepared to pay a hefty price premium for well-located holiday apartments during the peak summer letting season.

The IMF report noted recent stabilizing trends in several of the country’s key sectors and stated that non-agriculture GDP is expected to grow by about 2½ percent in 2009, with overall GDP growth  projected at about 5 percent. They also said that Morocco’s economic improvement is being influenced by the strong performance of the Asian economies and recovery signs in other countries.

The mission concluded that Morocco’s financial system remained robust and  because of its limited integration with the external world, Morocco has not felt the direct effects of the global financial downturn.

Michael Kent, Managing Director of Moroccan property specialist, Moroccan Sands, commented: “Its encouraging to hear that the Moroccan economy is set for a period of economic growth, although because of the uncertain nature and potential unevenness of the global recovery, its important for those considering purchasing property in Morocco to make astute choices.” He added: “Prestigious developments such as the Blue Pearl Golf Resort in Saidia where front-line golf apartments are to be  sold at 25% below current market prices and come with an 8% – 3 year rental guarantee, are definitely worth considering.”

Great New Pictures of Saidia

The pictures below were added to by user timo9. They show the resort looking ready to open as schedules in June 2009.


Above :
The coastline on the Mediterranean coast of Morocco has fantastic unspoilt beaches. This picture shows the beach close to Saidia with the Chafarinas Islands just offshore.

sunny saidia

Above : The first beach club opened in summer 2008 and was situated close to the 1,350 berth marina in Saidia.

The front at SaidiaThe front at Saidia

Above : The promenade in Saidia runs the entire length of the resort (6km) and it is already possible to imagine the crowds strolling along enjoying the warm evening air.

The Kings Hotel Saidia

Above : The five star Barcelo Hotel is the most luxurious hotel on the Saidia resort. It is a joint venture between the Barcelo chain and the royal family of Morocco. The concept is for it to be one of the most visually arresting and impressive hotels on the Med and so it will act as a beacon for the resort attracting media interest and boosting the status in the same way that the Borj al Arab did for Dubai.

While the world declines Morocco continues growth

Morocco’s economy is likely to grow by 6.6 percent in the first quarter, according to government figures recently released. This good news comes on the back of an IMF report highlighting Morocco’s impressive economic performance in 2008.

The International Monetary Fund stated that due to the sound financial sector in the country it was well placed to continue its progress.   The exchange rate peg (Dirham to euro and dollar), according to the IMF, has served as an anchor of macro-economic stability, and its level appears broadly in line with fundamentals required to maintain economic performance.
Indeed, the Moroccan banks are now generally well-provisioned and have little in the way of foreign exposure on either the asset or the liability side, minimizing the transmission of risks from global financial markets to the real economy, and making the banking system resilient to shocks. Moroccan banks are not exposed to the kind of products at the heart of the subprime crisis and are in a strong position after years of improving results. Whilst the central Bank Al-Maghrib (now autonomous from government) works to control money supply and credit and so also plays a crucial role in controlling inflation.

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.

More good news for Saidia property buyers

Posted in Morocco property,New Launch,Property News,Saidia property by Michael Kent Friday October 17, 2008

Jardin de Fleur, the leading developer in Saidia, has today announced the signing of an agreement with Golden Tulip to operate the resort previously know as RT-7 Les Jardins du Maroc. These extremely spacious two, three and four bedroom penthouses and apartments in Saidia are intelligently arranged around the perimater of the resort with the focus in the centre being on the impressive facilities for owners; including a heated swimming pool, restaurant and bar, amphitheatre, tennis court, solarium and children’s area.

The Golden Tulip Residences

The Golden Tulip Residences

Hans Kennedie, CEO of Golden Tulip added, “The Tulip Residences will offer fully serviced, tastefully furnished properties that combine luxury and elegence with all the comforts you could wish for. Saidia is a fantastic location with immense potential.”

Who are Golden Tulip?
Based in Lausanne Switzerland, the Golden Tulip Hospitality Group operates more than 780 hotels worldwide in more than 50 countries. They operate across the range of hotel categories but in Saidia they are operating under their Tulip Residences four star brand with superior first-class service. The Residences are designed to be a home from home and more personal and spacious than traditional hotel rooms.

What are the advantages of buying with Le Jardin de Fleur?
As a buyer on one of the Jardin de Fleur resorts you benefit from probably some of the best leaseback deals available in the world today. They have contracted established and reputable hotel operators such as Radisson and Best Western to provide rental clients for their apartments – giving you the benefit of a massive marketing budget and client database. So as you can see this is one resort that won’t just take your money and leave you to get rental clients yourself, indeed the proactive approach taken by the developer is just one reason that Moroccan Sands recommends Le Jardin de Fleur above others in Saidia.

For more information about Le Jardin de Fleur and Saidia go here