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Why Golf Properties are a First Class Investment…

Posted in MP, Morocco property, Property News, Tanger property, Uncategorized by Colin Timms Monday November 30, 2009

Paradise Golf and Beach Resort

Paradise Golf and Beach Resort

Moroccan Sands - Morocco Property Report…

With the increasing popularity of golf, buying a property on a golf development could prove to be a very smart investment choice.

 

Not only do a large majority of golf developments provide a wide range of on-site facilities, but that magical golf ingredient serves up enhanced rental income and the mouth-watering prospect of year-round letting.

 

Golf continues to grow in popularity and this can be seen by the number of new golf developments being built around the world. The proliferation of new golf courses is great news for golfers, particularly those who prefer playing their golf in the sunshine. What´s more, overseas golfing holidays are one of the travel/leisure industry’s major growth areas.

 

This sharp rise in demand for year-round golf has resulted in healthy rental returns for those who have purchased golf properties and despite the global downturn, it´s worth noting that resale values on the better golfing developments have held up very well over the last year or so. This is particularly the case in Morocco where a number of specific factors have resulted in the Moroccan economy escaping the worst of the global recession.

 

It may sound obvious, but a vital factor when considering buying on a golf development, has to be the quality of the golf course. A well designed and well located property on a golfing development will not attract golfers unless the course itself is equally well thought out. This is why it is advisable to invest in a golf development where the course has been designed by a renowned designer - someone with a good track record. An example of a great golf course is the Steve Ritson designed, par 72 championship standard course currently nearing completion at the superbly located Paradise Golf and Beach Resort, near Tangier in northern Morocco. 

 

Not just for golfers…
Over recent years there has been a noticable increase in the number of non-golfers buying properties on golfing developments. This might seem a little surprising, but many non-golfers are attracted by on-site facilities which can include: tennis courts, health spas,, restaurants, bars and fitness centres. Another advantage that can appeal to non-golfers is the safety aspect, with many golf courses offering 24/7 gated security. Golfing developments also offer the reassurance that the view from the properties will always be the green of the golf course and not some ugly office block or high-density development.

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Moroccan Sands are the No.1 Morocco property specialists. We offer a wide range of investment opportunities including the spectacular Paradise Golf and Beach Resort near Tangier, and the outstanding Blue Pearl Golf Resort in Saidia.

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.

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.

Investors ‘pile into property’

Posted in Morocco property, Property News, Tanger property by admin Friday October 10, 2008

The Times Newspaper today reported that investors who have lost faith in the banking system are turning to property as a safe haven for their cash.

Estate agents have identified a growth in interest from cash buyers, who want something tangible for their money rather than depositing it with banks they no longer trust.

The trend is emerging in all corners of the property market, according to one nationwide agent, from high-end mews houses in Knightsbridge to dilapidated two-up two-downs in the East Midlands.

Lindsay Cuthill, head of the southwest London office of Savills estate agents, said: “Ten days ago a wealthy, well-known businessman seeking to buy a mews in Chelsea told me, ‘I feel my money is safer here than in the banks’.”

Many investors are also looking at countries like Morocco, largely immune from the present troubles in the financial system, as a “safe haven” for their investments. Michael Kent, Managing Director of leading Moroccan property company Moroccan Sands commented “We’re seeing an increase in enquiries from established investors who recognise that their money in safer in bricks and motar in Morocco than an Icelandic bank.”

“In constrast to the UK housing market, property in Morocco is rising in price and mortgages are freely available from the major Moroccan banks. So if you’re looking for a profitable long term investment the Moroccan property market looks extremely tempting at present.”

Markets such as Saidia on the Mediterranean coast and Tangier at the mouth of the Straits of Gibraltar are especially recommended as they are developing rapidly due to their geographical advantages and in both cases they are backed by massive private and public investment from which the individual investor can benefit.

The Financial Times recognises Morocco’s advantages

Posted in Morocco property, Property News, Tanger property, Tangier property, Tangiers property by admin Thursday October 2, 2008

In an article by Heba Saleh in The Financial Times of London recognised that Morocco and its economy are remarkably immune from the troubles caused by the banking system and credit crunch in countries around the world. Despite being the only nation in the Magreb without its own oil or gas Morocco nonetheless appears to have managed to maintain economic stability in the face of global inflation.

“The numbers this year are certainly showing the very great resilience of the Moroccan economy in the context of international turmoil.” said Frances Clottes head of the World Bank in Morocco.

Despite the continuing reliance on agriculture for employment, increased revenue has come from tourism and corporate tax receipts – which rose 70% due to the higher level of investment in the country.

“From 1996 to 2004 nothing was happening in the economy,” said a Moroccan investment banker. “But starting from 2005 things started to improve thanks to all the public investment in infrastructure and the private investment in real estate and tourism.”

The most notable overseas investment has come from Renault which is putting $1 billion into a new manufacturing plant just outside Tangiers adjacent to the Tangier Med Port and inside the Free Trade Zone. When complete the Port alone will generate around 100,000 new jobs and will be the largest such facility in the Mediterranean.

The deal on its own is significant but ambitious locals are seeking to use this recognition by an internationally respected corporation to attract many other companies to the area, especially those in the aeronautical and automotive industries.

This all great news for people who have already invested in property in Tangier as the unique combination of Morocco’s economic stability and the attraction of the Free Trade Zone in Tangier look likely to attract significant levels of further investment. All analysts foresee a continuation of property price growth as the wealth created spreads through the Moroccan professional classes and expat managers look for “western standard” accommodation in Tangier.

Source: The Financial Times : Oct 2nd 2008

Tangier Med Port welcomes first containers

Posted in Morocco property, Property News, Tanger property, Tangier property, Tangiers property by admin Friday September 26, 2008

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.”