Tuesday, 25 September 2007

Morocco property resale boom

Atlas, Morocco, Dades Valley, Dades river, Bou...Image via Wikipedia London based Moroccan property agents Property Borders are reporting the resale market in Morocco is starting to bear fruit.

Beverley Mezouri a director for Moroccan agents Property Borders comments “with developments such Jawhara Smir now completed and achieving rental levels as high as £500 per week for a 2 bed apartment, originally priced at £40.000 it’s easy to see why there is now a demand for resale property in Morocco.”

“Yields in Morocco are great” comments Beverley Mezouri Rental occupancy reaches 85% most years especially during the Peak Season.

“The Mirador Golf development due for completion in October is one such development that we are seeing a demand for. Buyers are becoming more astute & looking for a turnkey investment” comments Beverley.

The Mirador Golf development is located on the Mediterranean coast of Morocco in the prestigious Cabot Negro area. Some of the properties have views over the magnificent Mediterranean Sea & the perfect 18 hole Cabo Negro golf course.

“With the great potential for golf rentals and prices starting just under £40.000 for a 2 bed apartment it’s easy to see why these apartments are so sought after” comments Beverley Mezouri.

Moroccan agents Property Borders have a limited number of resale properties for sale on Mirador Golf. This selling very quickly, as handover of some of these properties is imminent.

The Mirador Golf apartments are perfect for the end user who is too cautious to buy prior to construction and would like to see the finished product.

According to Beverley Mezouri there are many clients that want to buy in developments which are already under construction. “This is not surprising” says Beverley, with many developments being announced almost weekly. Some developers have not even purchased the land or obtained planning permission warns Beverley.

Property Borders ensure they complete a full dull diligence report on the developments they market.

"As the UK’s 1st Moroccan agency we at Property Borders feel obliged to protect our clients and the reputation of Morocco as a great place to invest". comments Mustapha Mezouri the founder of Property Borders.

Property Borders is a Moroccan owned agency, its co-director Mustapha Mezouri was born in Northern Morocco. We have been at the forefront of the Real Estate industry in Morocco for the past two years, continuously developing its services according to market trends and laws we only market property developments after researching areas for their growth potential.

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Sunday, 9 September 2007

Sunset Resort Asilah

AsilahImage via Wikipedia It is little wonder that western investors and holiday home buyers are flocking to this beautiful region of Morocco known by Moroccans across the country as the Tuscany of Morocco.

"Asilah with its surrounding green countryside is stunningly beautiful." comments Mustapha Mezouri the founder of London based Moroccan agency Property Borders.

Artists and musicians are attracted to Asilah which hosts its own annual arts festival attracting visitors from all aver the world.

With its quaint squares and its whitewashed houses overlooking the Atlantic Ocean, Asilah is very pleasing to the eye.

In 1578 after the famous "Battle of the three Kings", the Portuguese lost Asilah to the Spanish. In 1956 Asilah was finally reclaimed by the Moroccans for good and became part of the new Moroccan Kingdom.

"Investment has been pouring into the Asilah region. Its mayor Mohamed Benaissa is also the ambassador to the United States and he helped to bring prosperity to the town by inaugerating the arts festival in the late 1970's" comments Mustapha Mezouri of Property Borders.

"We have seen the area between Asilah and Tangier go from strength to strength" says Mustapha "with Dubai based Emaar launching their luxury development Tinja in the region".

Tinja will be joining a growing list of luxury developments being built in the region by rich Arab Gulf developers who are ploughing their oil money into this emerging area.

Many of these high end developments include 18 hole golf courses like the Al Houara resort being developed by Qatar based company Qatari Diar.

"Property Borders have witnessed growth in both Tangier and Asilah" comments Mustapha Mezouri, "we have seen prices on the luxury Paradise Golf & Beach Resort rise over 30% and on the 5 star Tanjah Beach & Golf Resort we have just had a price increase of 30%".

Asked whether the price increases are affecting the market Mustapha says "There is still plenty of room for growth with demand at a all time high".

Property Borders are expecting growth rates of at least 20% this year as the market expands. With FDI (foreign direct investment) increasing with the likes of Renault investing 600 million euros for car production the signs are good. The investment from Renault alone is expected to create 6000 new jobs.

Just released by Property Borders is the aptly named Sunset Resort North of Asilah, 400 beachfront apartments and penthouses many with amazing ocean views and access to the powdery wide beaches of Asilah.

Prices at the Sunset Resort start at only £52,088 but are already due for an imminent price increase as building has already commenced and all licences are already in place.

With prices rising across the board in Morocco this could be one of the last bargain developments in this area known by the Moroccans as the Tuscany of Morocco.

View property borders website

Property Borders
0208 508 9905
Moroccan Hospitality With British Professionalism

FOPDAC membership number 1378F

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Friday, 29 June 2007

Plan Azur resort of Mazagan El Jadida gets underway

Work began on Monday in Morocco on the first phase of Dubai World's $350 million resort project that is set to bolster the country's tourism industry.

The Mazagan Resort is a joint venture project involving Istithmar - Dubai World's wholly owned investment firm - and Kerzner International Holdings who are set to develop and manage the luxury resort.

"The Mazagan Resort demonstrates Dubai World's deep commitment to invest in developmental projects in the Arab world," said Sultan Ahmed Bin Sulayem, chairman of Dubai World.

"Istithmar and Kerzner International are eminently placed to execute such a prestigious project in cooperation with our Moroccan partners. We are confident that Mazagan Resort will contribute positively towards Morocco's image as a preferred tourist destination," he added.

The resort - located 175 km north of Marrakesh on the Atlantic coastal town of El Jadida, formerly known as Mazagan - will span 324 hectares of coastal land and will boast a five-star hotel, villas, restaurants, and 18-hole golf club designed by South African golf legend Gary Player.

"We hope that our development adds impetus to the further growth of the tourism industry in Morocco and that Mazagan will become a destination of choice," said Sol Kerzner, chairman and CEO of Kerzner International.

"By taking a long-term approach to this development, we will help drive job creation in the region and work toward reinvigorating the tourism industry that has been a staple of the Moroccan economy for decades."

The project also involves a cluster of Moroccan government and private investors, including the government pension investment fund, CDG Développement and the Moroccan-Emirati investment fund, SOMED.

The construction process for Mazagan is expected to take approximately 25 months, with a targeted completion date in the fourth quarter of 2009.

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Sunday, 29 April 2007

Tangier Morocco to have a second Port

Morocco plans to build a new 14 billion dirham ($1.70 billion) port in Tangier.

The second port is expected to supplement another port opening in July that will be used to capacity within eight years, government officials said on Friday.

The project was endorsed by King Mohammed at a meeting of top government officials late on Thursday, they added.

The new port would be close to the Tangier Mediterranean port, which was launched in 2002 at a cost of about $2.0 billion and is due to be opened in July this year, to benefit from a network of roads, highways and rail lines linking to a free-trade zone nearby and to the rest of the country.

"The new port would be built at a cost of about 14 billion dirhams, almost half of the investment would come from private investors from Morocco and abroad," a senior official involved in the project planning said.

The port, with three container terminals, would have a capacity of five million containers and would also harbour a natural gas liquefaction terminal alongside a re-gasificaton facility, he and other government officials said.

The first port, officially known as Tangier Mediterranean Port, also houses a container terminal with a capacity of three million containers, oil storage, cereals terminal and other facilities.

The oil site will store at least 20,000 tonnes of petroleum products to be sold to local retailers along with offering petroleum products and services to ships docking at the port or crossing the Straits of Gibraltar.

"Work is expected to start in the second quarter of 2008," said a government official who did not want to be named.

"We knew from technical and other studies that the Tangier Med port would be saturated by around 2015.

That is why there is a need for a new port to be built," Said Elhadi, chairman of the Tangier Mediterranean Special Agency (TMSA), said earlier.

Elhadi, whose agency would oversee the new port planning and building, attended the meeting chaired by King Mohammed.

The two ports would have a combined capacity of up to 10 million containers, making the Tangier port complex one of the biggest in the world, Elhadi has said.

Elhadi, who was not immediately available for comment, has said the Tangier port complex would be one of the biggest and most competitive maritimes hub in the Mediterranean region.

The government has a plan to invest up to $18 billion for the 2002-2015 period to take advantage of its status as the only North African country linked with free trade agreements to the United States and the European Union.

Tangier lies on the North African coast at the western entrance to the Strait of Gibraltar where the Mediterranean meets the Atlantic Ocean off Cape Spartel. It is the capital of the Tangier-Tétouan Region.

Tangier is the second industrial center of Morocco after Casablanca. The industial sectors are diversified: textile, chemical, mechanical, metallurgical and naval.

Currently, the city has four industrial parks of which two have a statute of free economic zone


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Sunday, 8 April 2007

Property Borders bring Moroccan Hospitality with British Professionalism to London's Streets

As passengers arrive outside Buckingham palace in licensed London taxi's her Royal Highness could be forgiven for thinking that Morocco has arrived in the mall, but if she looks deeper she will see its Property Borders the UK's leading Moroccan run property agencies new marketing campaign hitting some of London's most exclusive places like Harrods, Grosvenor House Hotel and the Savoy Hotel.

“The marketing campaign on London taxis is to highlight Morocco as an up market tourist destination as well as promoting Morocco as a holiday home/investment destination” comments Mustapha Mezouri a Moroccan director for Property Borders.

Morocco is currently going through fundamental changes with the government’s privatisation program in full swing the country is increasingly receiving large amounts of (FDI) foreign direct investment and funding from the (EU) European Union who are encouraged by Morocco's rapidly changing economic and social reforms.

Mustapha Mezouri says “the late King Hassan II had a vision Morocco will one day join the eu. This may be unlikely but morocco is already very closely aligned with the west, Morocco has been designated a major non-Nato US ally”

Mustapha Mezouri says “Property Borders are the first Moroccan run agency specialising in Moroccan property in London and we are very proud of this fact”.

As a Moroccan agency Property Borders are committed to promote Morocco and show the World what a truly fantastic place Morocco is to invest and visit. Most people who think of Morocco think it just a desert but Morocco is a country of contrasts from green hinterlands to majestic mountains where during the winter months you can ski.

Head for the imperial cites of morocco like Fees, Meekness, Marrakech & Rabat the capital of Morocco and see the real Morocco with all it century old traditions. If its open space you’re after head for the vast deserts.

For lovers of sport you will be spoilt for choice in Morocco and you will find it hard to keep the Moroccans away from joining you, Moroccan's are fanatical about their sports. Golf is very popular with some sublime course’s to play on at a fraction of the price one would expect to pay in Europe. If you’re a keen surfer head for the golden beaches on the Atlantic coastline to ride some amazing waves, Morocco has what seems like an endless coastline of incredible powdery beaches.

Fishing is also a great way to enjoy the lifestyle Morocco has to offer with an abundance of fish. Food is part of the Moroccan culture and the country is renowned for its sumptuous mouth watering food at giveaway prices.

Morocco has something for everyone so much so that Sir Winston Churchill Was quoted as saying "It is the most beautiful place in the world".

Property Borders are marketing property all across Morocco and you don’t need a budget of the likes of England captain Rio Ferdinand who along with his team-mates John terry and Gary Neville recently bought property in Morocco.

In Marrakech we are marketing the El Oasis de Marrakech a truly stunning development in the exclusive La Palmeraie area which offers exceptional value for money with excellent, cash flow positive payment options.

All financial issues have been addressed to present this unique mortgage and financial package....

• 25% Deposit 75% Loan to value
• 2 Years interest only mortgages on a 15 year term.
• 2 Years mortgage paid by the developer for the investor.
• 2 Years service changers paid by the developer
• 2 Years guaranteed net rental income at 3% per annum.
• 2 weeks free usage per annum*
• 2 Free plasma televisions fitted with every purchase before 1st June 2007.
• After the initial 2 year there is an option to renegotiate a rental program for a further 3 years.

Prices start at just £81,598

So if you find yourself dreaming of some Moroccan sunshine while being chauffeured around London in one of Property Borders exclusive London taxis and would like further information on living a Moroccan lifestyle or would like to discus the possibilities of investing in one of our many resorts do not hesitate to contact the UK’s 1st Moroccan property agency Property Borders.

This article is the copyright of propertyborders.com. Copyright: propertyborders.com 2007. No part of this article can be reproduced in any form whatsoever, without prior written approval or credit given to propertyborders.com.

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Monday, 26 March 2007

Fadesa Invest in Plan Azur resort at Plage Blanche

Fadesa to invest 450 mln eur in Morocco tourist project.

MADRID (AFX) - Fadesa Inmobiliaria SA said it will invest 450 mln eur in its first tourist resort project along the Atlantic coast in Guelmim-Smara, Morroco, broadly confirming an earlier report in Cinco Dias.

In a statement, Fadesa said the 632 hectare complex will comprise eight hotels and more than 5,000 residential dwellings on the beach Playa Blanca.

Separately, Fadesa said it is investing 470 mln eur to promote a residential complex in Smir.

Fadesa is also investing 300 mln eur in a project in Tangiers, it noted.

Fadesa, currently immersed in a merger with Grupo Martinsa, has invested some 3.0 bln eur in Morrocco since 2000, Cinco Dias said.

Wednesday, 7 March 2007

Spanish Prime Minister Jose Luis Rodriguez Zapatero says "the Spain Morocco tunnel plan is a historic project

Morocco, Spain vow undersea tunnel
From correspondents in Rabat

March 07, 2007 12:00

MOROCCO and Spain vowed overnight to work together to bore a tunnel under the Strait of Gibraltar to link Africa and Europe.

Moroccan experts say the long-mooted 39km rail tunnel would be among the world's most sophisticated engineering works and rival the Channel Tunnel linking England and France.

"We will deploy the necessary effort to achieve this project or at least put it on the right track," Moroccan Prime Minister Driss Jettou said.

Spanish Prime Minister Jose Luis Rodriguez Zapatero, who completed a two-day official visit to Rabat overnight, shared Mr Jettou's optimism and called the plan an "historic project".

Mr Zapatero pledged to drum up European Union support for a project he said "would change Africa and Europe".

"The fixed link would bind the African continent to Europe.

It is an ambitious project but we are sure it is within our reach," Mr Jettou said.

Moroccan authorities displayed blueprints of the project.

Engineers say one of the most daunting obstacles in building the tunnel is the seabed under the Strait of Gibraltar, which is more permeable than it is around the Channel Tunnel.

This would mean boring further down, pushing costs higher.

Neither Mr Jettou nor Mr Zapatero estimated the cost. Expert forecasts have ranged between $US7 billion ($9.1 billion) and $US17 billion ($22.09 billion).

Support for the project reflected how warm ties between Rabat and Madrid have become under Mr Zapatero's Socialist government. Four cooperation accords were also signed, including one on cracking down on illegal migration of children.

Relations had soured under conservative former Prime Minister Jose Maria Aznar over illegal migration, drug trafficking and the disputed territory of Western Sahara. Mr Zapatero replaced Mr Aznar in 2004.

Mr Zapatero cited a 60 per cent drop in illegal migration from Morocco and increases in trade and investment as among fruits reaped from "excellent relations" between the two countries.

Spain is Morocco's second trading partner after France and its second source of foreign investment, with about 1000 Spanish companies present in sectors ranging from energy to tourism, real estate and agriculture

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Tuesday, 6 March 2007

The Plan Azur resort of Mazagan will open its first hotels in August 2007

At the end of his visit to several countries of Central America, Mr Driss Jettou, Prime Minister, has made a guided tour of the tourist station "Atlantis" which belongs to Kerzner International Limited (in the Bahamas), the Group who is charge of the construction of Mazagan's station (Province of El Jadida), within the framework of the Azur Plan.

The Moroccan Prime Minister has been informed about the plans of this mega-project which attracts annually about 2 million tourists from different parts of the world, and more particularly from the Gulf of Mexico and the United States of America.

In a declaration to the 1 st national TV channel, Mr Jettou has pointed out that this visit may allow them to inquire about what will be Mazagan's station, a seaside resort whose construction will be launched next summer.

The creation of this Station is likely to give considerable impetus to the development of Azzemmour and El Jadida, and to contribute to the emergence of a new tourist pole in Morocco.

ith an area of about 500 ha, Mazagan's tourist station will be equipped, at the end, with a global capacity of 8000 beds, including 4000 hotel beds. It will be equally equipped with tourist facilities relating to entertainment, commerce and leisure. The station will be achieved in three stages, the 1 st stage of which will require an amount of 2,4 billion DH, along with the opening of the first hotel in August 2007

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Tuesday, 27 February 2007

More retirees 'may consider' Morocco in the near future

More retirees 'may consider' Morocco in the near future
The north African country of Morocco looks set to become a new hotspot for people thinking of retiring to the sun, after a planned tunnel with Spain received ministerial backing.

Recently, the plans for a tunnel linking Morocco with Spain have gained steam. In an interview, Karim Ghellab, Morocco's minister of transportation said: "It's not easy to predict a date yet, but it is a project that will happen. It will completely change our world."

With several low-cost airlines already offering cheap flights to the country, the new tunnel is only going to improve access to the country for people looking to retire abroad.

According to a Moroccan property expert, Property Borders, foreign investment in the country is already at an all time high and 10 million tourists are expected to visit annually by 2010.

The Independent reports that property in Morocco is also showing impressive returns. According to the paper, a record number of Britons are buying property and experiencing capital gains of more than 20 per cent per year.

Abby Aron, author of Buying a House in Morocco, told the paper that the costal towns of south-west Morocco are particularly suitable for people thinking of buying a property to retire to.

"This stretch of coast is exciting for those looking for a second home, because property prices are still very reasonable," she explained.

26th February 2007

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Saturday, 17 February 2007

Morocco leading the way for reform in the Arab World

16/02/2007 By Adil Dekkaki for Magharebia in Washington – 16/02/07

The Center for Strategic and International Studies has published a study on political and economic reform in Morocco and the extent to which it can be considered an exemplary model for other Arab states.

A study titled "Arab Reform and Foreign Aid: Lessons from Morocco" was conducted by the Centre for Strategic and International Studies in Washington, to evaluate the experience of Morocco in the field of economic and cultural reform. The authors of the study -- Haim Malka and John Alterman -- conducted a series of interviews with hundreds of Moroccans from various sectors, including members of the government, university teaching staff, journalists, and members of non-governmental and civil society organizations.

Evaluating reforms in Morocco

The study states that the King Mohammed VI, has embraced changes in the country's political, economic and social fields over past years. As a result, an extensive debate is currently under way in Morocco regarding democracy and power, and there is an indication that neutral reform is taking place.

The study also shows that the participation of citizens in political life has risen considerably over past years, since the scope of human rights, individual liberties and women’s rights has been widened, and journalists now are testing the limits permitted by the government in the field of freedom of opinion and expression.

There is considerable and evident consensus among different groups in Morocco that priority should be given to political reform and social change. However, the report shows that the image of Morocco is not all rosy. There is some concern over the future of the country, particularly as Morocco is suffering from difficult economic and social problems like rising unemployment, the ongoing conflict over the Western Sahara and the risk of terrorism.

The study shows the reforms that were adopted by the late king of Morocco, Hassan II, during the 1990s were all positive and noticeable developments. They did however lead to a greater consolidation of power in the hands of king than previously, instead of achieving the goal of drawing the parties and civil society organisations into the running of the country’s affairs.

The challenges and stumbling blocks experienced by the reform process and the changes in many of the Arab states over the past decades have not affected the reform process in Morocco. In the eyes of many international observers, Morocco has become an exemplary and outstanding model for Arab reform. The study attributes this to Morocco itself choosing to adopt a reform agenda, and endeavouring to obtain foreign aid, and to this reform agenda not being imposed on from the outside. Western countries efforts were not focused on launching the reform process in Morocco, but rather on encouraging a programme of reform which the Moroccan government itself originally began and pursued.

The nature of the amendments and reforms

The study indicates that it is possible to divide the latest amendments in Morocco into two basic categories. The first relates to individuals in relation to society and to the government. The amendments that were adopted within this framework include the changes to the Family Code; the formation of the Justice and Reconciliation Committee; the human development initiative; and openings in politics for Islamists and other political groupings.

The second category of reform includes the composition and functioning of the Moroccan government. Economic reforms -- privatisation, opening up economic sectors to foreign investment, relaxing the restrictions imposed on investment, reviewing the Journalism Law, and parliamentary and judicial reform -- have all been implemented.

Morocco is developing quickly with regard to reform, but the report emphasises that time will tell whether Morocco is moving sufficiently fast in this regard. It is too soon to describe the reforms adopted by Morocco as a success story -- the main indications of success will appear over the coming years.

Lessons to be learned

According to the authors, Morocco provides a valuable lesson in political and economic reform, which others in the Arab world can draw on. The Moroccan experiment in the field of reform exposes the importance of the government taking a leading role in the setting-up and managing of the reform process, since the monarchy in Morocco is the real driving force for the adoption of reforms as it made them a strategic choice for its political programme, and thus gave the process of change thrust, strength and efficacy.

The Moroccan model confirms that it is possible to adopt political and economic reform simultaneously, and that the processes of political and economic reform support and assist each other. Morocco has also proved that it is possible to accommodate Islamist movements and bring them into the political process successfully, as shown by the important experiment of the Justice and Development Party’s participation in political activities in Morocco.

An important lesson to draw from the Moroccan experiment, the study concludes, is that reform must be accompanied by a genuine domestic desire for change.

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Monday, 12 February 2007

Morocco - Tunnel Vision

The recent excitement in Morocco and Spain about the potential tunnel linking Morocco Africa with Spain Europe is gaining more ground report UK based Moroccan property agents Property Borders. In a recent interview with Karim Ghellab, Morocco's minister of transportation he stated "It's not easy to predict a date yet, but it is a project that will happen. It will completely change our world,". With many thousands of Moroccan's and tourists crossing the straits of Gibraltar every year on ferries "the tunnel makes sense" says Mustapha Mezouri a Moroccan director for Property Borders.

Property Borders are the UK's leading Moroccan run property agency in London. They sell a wide range of Moroccan property whether it is for a holiday home in Morocco, retirement home or for investment purposes. The tunnel will have a positive effect for both countries, Europe and North Africa if it goes ahead. By 2010 Morocco expects to become part of the Euro-Med free trade zone and is working towards a close relation with the EU this is a significant development that will undoubtedly boost the Moroccan economy further still. Mustapha Mezouri says FDI (Foreign Direct Investments) in Morocco is at a all time high from investors across the globe, France and Spain are a big part of this. The effects of Vision 2010, Morocco's drive to have 10 million tourist by 2010 and the planned tunnel are evident everywhere with the Tangier Med Port the biggest in north Africa and new motorways being constructed. Tangiers airport is being extended in preparation for the flood of low cost and charter carriers that will likely use it. The open skies agreement, signed recently with the EU, will open up the skies to allow no-frills/ low cost airlines to fly to Morocco.

Property Borders receive a large amount of enquiries about the Plan Azur resorts of which they are official agents. They recently released the first units of La Plage at Port Lixus an Exclusive beachfront condo hotel in Larache. Port Lixus is the second of the Plan Azur resorts to be launched. The first 25 units of the condo hotel units at La Plage Port Lixus were sold out in two weeks and Property Borders have a list of clients waiting for the second release which is imminent. Mustapha Mezouri comments "the dynamic King Mohammed VI has made northern Morocco a priority for development with Tangier at its heart and incentives for investors such as 0% Annual property tax for the first 5 years 0% tax on rental income for the first 5 years 0% capital gains tax if profit is under £40K or after 10 years of ownership 0% inheritance tax when a property passes to a family member 100% repatriation of funds when you sell your property."

Tangier which was once seen as a seedy area has changed immensely over the past years. The highly capable mayor Mohamed Hassad has brought in plans to make this area a centre for tourism and business trade. Property Borders have properties for sale in all areas of Morocco including the Exclusive La Baie Panoramique in Tangier the first phase of which is due for completion in December 2007. So if you have tunnel vision about buying a property in Moorish Morocco why not give Property Borders the UK's leading Moroccan run property agency a call. 0208 508 9905

View property borders website
Moroccan Hospitality With British Professionalism
FOPDAC membership number 1378F

Friday, 26 January 2007

The Moroccan Mortgage Market with Moroccan Mortgage Alliance

The Moroccan Mortgage Alliance was established in 2006 in association with The Spanish Mortgage Alliance formed in 2004 and currently operates from our offices in Marbella, Spain. The Moroccan Mortgage Alliance consists of a team of experienced multilingual professionals who between them have over 10 years experience in processing European Mortgages.

The company is dedicated to providing the highest quality of service and advice to clients wishing to purchase anywhere in Morocco. In order to achieve this we have thoroughly researched the Moroccan mortgage products available and have established strong links with a variety of lenders offering the best range of products available in the mortgage market today.

Our expertise covers the full spectrum of the property market. We have experience in arranging finance for properties ranging from apartments to villas, first time buyers to investors and for families relocating or purchasing their holiday home. Our aim is to provide top quality advice and the level of service you would expect from a company with our experience.

We recognise that purchasing a property is one of the most important decisions many of our clients will ever make. With this in mind we believe in going the extra mile to ensure that the purchase process is made as simple as possible. We explain the process, assess your financial situation, find the best mortgage available to meet your requirements and liaise with all parties involved.

Our customers are safe in the knowledge that we will do the shopping around for the right product for them.Our experienced multilingual administration team will update them at every stage of the process and take them through to completion.

Source http://www.moroccanmortgagealliance.com/index.html

Thursday, 25 January 2007

Morocco a shrewd investment

An exotic country, merely three hours away by plane, morocco has a unique decorative and vibrant culture and warm year-round climate. This increasing popularity is leaving the traditional travel and investment destinations in the shade.

Morocco shows all the signs of becoming a top investment destination for overseas buyers. Property prices are as little as half those of the Iberian Peninsula and, according to the Oxford Business Group, visitors are increasing (the government predicts that ten million tourists will visit the country each year by 2010).

in addition, the pro-Western government is encouraging overseas buyers. "Property prices have risen by around 50 per cent in the past two years and land prices have been rising even faster", says Alistair Emery of Hamptons.

An increase in Morocco property buyers has been encouraged by the very low cost in living, which is currently running at one third the cost of most European countries. This, coupled with the emergence of cheap flights from various European locations, means foreign buyers are buying a variety of Moroccan properties, including apartments, riads in the medinas and villas in the palmeraies.

With more and more property investors choosing Morocco, business practices are becoming more professional, which contributes to the overall stability of the property market. This leads to even greater confidence among the off-plan buying public.

The property market is booming, with realistic growth projections of 15% plus per annum.
Rental occupancy rates of 85 pre cent in peak season
Huge investment in infrastructure, with projected tourism increase from 2.2 million in 2005 to 10 million in 2010
Property prices are 50% less than the Costa del Sol, which at its closest point is only 9 miles away
The country enjoys a Mediterranean climate with 320 days sunshine per annum
Low cost of living
English, French and Spanish is widely spoken along with Arabic
Excellent travel links from the UK, with Ryanair scheduling 20 new flights to Morocco
Familiar investment regime, with notary supervised registration similar to France and Spain
Flexible mortgage packages available
Capital gains tax rate of just 20 per cent
Easy repatriation of investment proceeds


Reflecting growing interest from investors, Egypt and Morocco leapt up the rankings of TheMoveChannel.com’s Top of the Props Top Ten chart in December.

Based on interest from visitors to the site, Morocco rose seven positions to fifth place while Egypt rose 15 places to reach seventh place. The Top of the Props chart reflects each listed country’s share of the overall volume of enquiries the property website receives over the preceding month.

The top ten, with percentage of market share and position change, are as follows:

France: 11.28% (non-mover for last four months)
Spain: 9.99% (up one)
Italy: 8.07% (up one)
Bulgaria: 8.07% (down two)
Morocco: 3.85% (up seven)
Cyprus: 3.71% (up two)
Egypt: 3.58% (up15)
USA: 3.38% (up 7)
Portugal: 3.34% (down three)
India: 3.23% (down one)
Both of these North African countries have seen a rise in tourism and are investing substantial resource to increase numbers. Egypt saw a record 8.6 million visitors in 2005 (according to the Egyptian Tourism Authority) and hopes to double this by 2014. Morocco received 5.8 million tourists in the same year and has already launched a major initiative to double by 2010 (according to the Morocco Tourism Authority). Rising numbers are being driven, in part, by new cheap flights from Easyjet and Ryanair.

An increase in tourist numbers means more property investors, according to TheMoveChannel’s sister company E-Quity.com. “ Morocco offers European proximity and quality at emerging market prices,” said sales consultant Meredith Drynan. “With high occupancy rates and a King dedicated to increasing tourism even further to 10 million visitors per annum by 2010, Morocco’s improving infrastructure, Mediterranean climate and accessibility make this a smart investment and lifestyle choice.”

Commenting on Egypt, Chris Davidson, product manager at E-Quity.com, said: “An increasingly popular tourist destination, Egypt offers cultural attractions dating back to 3200BC, thousands of miles of glorious beachfront as well as world-beating dive spots. The Egyptian government is currently heavily promoting its tourist sector and is opening tourist offices around the world. A low tax environment is just one of the ways the Government is attracting international investors right now.”

An increase in foreign investment is also helping to drive up prices, as Dale Pilkington of Churchill Overseas explains: “Some land and property prices on the Red Sea coast have already increased by as much as 60% in the past 12 months and property professionals are forecasting further rises of around 15% in the next year. Additionally, the Egyptian government is competing with neighbouring Gulf States to attract foreign investment into real estate which is anticipated to stimulate further growth in the property market. With entry into the market still very competitive with properties available for less than £30,000, property investors are flocking to the Egyptian market.”


Wednesday, 24 January 2007

Royal Resort Cap Malabata formally launched

Signaling the start of development of the first phase of the US$ 1.4 billion Gateway to Morocco project in the Kingdom of Morocco, H.E. Mizwar Salahuddin, Minister of Industry & Commerce, today formally inaugurated the Royal Resort Cap Malabata Client Relations Centre (CRC).

Mr. Jalloul Samsam, the Director of the Regional Investment Center of Tangier , H.E. Driss Khazani, the Wali of Tetuan, Mr. Mohammed Al Arif - Mayor of Fahs Anjara, Mr. Toufiq Hijaira, Minister Delegate to the Prime Minister in charge of Housing and Urbanism, Mr. A.Rahman Al Jasmi, Deputy CEO of Gulf Finance House, H.E. Salahuddin Mizwar - Minister of Industry & Commerce, Mr. Esam Janahi, CEO & Board Member of Gulf Finance House, Mr. Hassan Barnousi - Director of International Investments for the Government of Morocco

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A unique mixed-use tourism, commercial and residential destination in the city of Tangiers, the circa US$ 600 million Royal Resort Cap Malabata development is one of the two distinctive but complementary elements of the US$ 1.4 billion Gateway to Morocco project, the second element being Royal Ranches in Marrakech.

Royal Resort Cap Malabata was launched at a press conference followed by a high-profile function attended by Mr. Toufiq Hijaira, Minister Delegate to the Prime Minister in charge of Housing and Urbanism, H.E. Driss Khazani, the Wali of Tetuan, Mr. Mohammed Al Arif, the Mayor of Fahs Anjara, Mr. Jalloul Samsam, the Director of the Regional Investment Center of Tangier and Mr. Hassan Barnousi, Director of International Investments for the Government of Morocco.

Other attendees included top government officials, an array of senior dignitaries, VIPs, Gulf Finance House (GFH) senior management, members of the Diplomatic Corps, investors, strategic partners, international tourism operators and hoteliers.

The event commenced with the inauguration of the CRC followed by a guided tour of the vicinity, a laser show and cultural programme, and ended with a grand reception.

Mr. Esam Janahi, Chief Executive Officer and Board Member of GFH, a leading MENA region Islamic investment bank and promoter of the Gateway to Morocco project, said
"On behalf of the Board of Directors of GFH, I would like to thank His Majesty King Mohammed VI for his continuous support for the Gateway to Morocco project and his strong commitment in encouraging Foreign Direct Investment (FDI) flow into the Kingdom of Morocco and developing the economy. I would also like to thank H.E. Mr. Driss Jetou, the Prime Minister of the Kingdom of Morocco for all the support provided by the Moroccan government. We look forward to the continued encouragement of the Government towards foreign investment."

"The Moroccan economy has experienced excellent growth over the last few years. Additionally, Morocco is a farsighted real estate investment location offering all the right natural elements for a harmonious environment.

Tangiers with its beautiful beaches, and its close proximity to Europe, Mediterranean environment, language, accessibility, culture, amongst other striking features provided the ideal setting for the Royal Resort Cap Malabata project.

'Royal Resort Cap Malabata will positively contribute to the overall social and economic framework of Morocco by enhancing FDI flow, offering investors with a new attractive investment opportunity and by directly and indirectly creating a quantum of new jobs in the Kingdom,' Mr. Janahi added.

Designed as a one-of-a-kind mixed-use tourism, commercial and residential destination on the Mediterranean coast, Royal Resort Cap Malabata in the city of Tangiers, will cover a total area of 127 hectares. It will feature cafes, galleries, exclusive shopping areas, beach house, 9-hole golf course, equestrian club and convention centre. Royal Resort Cap Malabata will also provide the international business community with an exclusive destination for corporate meetings, conventions and exhibitions. The resort will also include a private school as well as a clinic equipped with the latest medical facilities.

The new on-site state-of-the-art CRC will serve as a fully integrated sales and support centre for developers, and also function as a hub for promoting and advertising the development. Moreover, the CRC will host guests, investors, events, press conferences, meetings and site tours.

Commenting on the Royal Resort Cap Malabata development, H.E. Mohammed Hassad, the Wali of Tangiers, said: 'We are extremely excited about the launch of the Royal Resort Cap Malabata project and look forward to its completion. This is indeed a significant development as it will position Tangiers as a unique and wholesome destination catering to a broad spectrum of tourists, businessmen and residents. Furthermore, the resort will generate important new business and corporate hospitality revenue by attracting regional and international tourists."

'Gateway to Morocco', estimated at US$ 1.4 billion, adds to GFH's existing investment and project portfolio in the Kingdom of Bahrain, the Kingdom of Saudi Arabia, the United Arab Emirates, the State of Qatar, Kuwait, the Hashemite Kingdom of Jordan, the Arab Republic of Egypt, India, Germany, Spain and France.

Casablanca Stock Exchange experienced significant growth in 2006

Last year saw the Casablanca Stock Exchange listing more companies and increasing share prices. Financial analysts expect the growth to continue this year, reflecting increased confidence in the Moroccan economy.
By Mawassi Lahcen for Magharebia in Casablanca -- 05/01/07

[Mawassi Lahcen] The chairman of the Casablanca Stock Exchange rings the bell after the listing of a new company.

The Casablanca Stock Exchange experienced unprecedented activity in 2006, with the number of transactions on the retail market for Moroccan shares reaching 117.4 billion dirhams -- an increase of 212.9% from 2005.

Some 200,000 Moroccans trade shares on the stock exchange. In 2006, they traded 128.8 million shares, an increase of 64.13%. The share prices of 45 companies rose by high percentages, causing the Moroccan All Shares Index (MASI) to increase by 71.14%.

The exchange's year-end capitalisation was 417.09 billion dirhams, an increase of 65.32% from 2005. The volume of the capitalisation of the Moroccan stock market was equivalent to 83% of Morocco's gross national product.

The rise in the stock exchange's indices reflects the confidence in Moroccan economy, which is expected to have grown by 7.3% for 2006, Upline Securities Bank General Manager Rachid Alaoui said. The indices were also affected by better than expected half-year results of listed companies, which showed an increase in combined net profits of 35%.

Alaoui also attributed the rise in Moroccan share prices to a substantial increase in cash liquidity, resulting from privatisation revenues, an increase in remittances from workers abroad, tourism revenues, and the influx of foreign investment -- particularly from Europe and the Gulf states. The increase in liquidity caused a fall in interest rates to the lowest-ever level in the country, which made investors prefer to invest their funds in shares instead of bonds.

Alaoui says he does not expect any significant drop in share prices and says the upward trend should continue through this year, with many new companies joining the exchange. During 2006, 7.1 million new shares were listed on the stock exchange at a value of 7.2 billion dirhams.

Abdelaziz Lahlou, a senior financial analyst at the Attijariwafa Bank's brokerage subsidiary firm, told Magharebia that there will be a corrective fall in the prices of certain shares which increased in an exaggerated way over the past year. However, he does not expect there to be a major collapse in the market.

Casablanca Stock Exchange Organisation and Information Systems Director Omar Drissi Kaitouni said the developments in the Moroccan stock market reflect the new role that the stock exchange is playing in the national economy. He said the reform of the stock exchange, which has now entered its tenth year, has borne fruit, and is contributing in a more efficient way to mobilise savings, attract foreign investment and finance the national economy.

Moroccan authorities have been implementing a series of measures to modernise and reform the financial market. At the end of 2006, the Moroccan Parliament ratified new laws regulating the publication of information related to listed companies, ensuring market transparency, and protecting the rights of those dealing in the market. Preparations are under way to introduce futures transactions.

Free viewing trips to Morocco with Property Borders

The free viewing trip offer only applies to new reservations in Morocco.

You must be financially in a position to purchase.

If two people are needed to make the decision to purchase then both need to attend the appointment.

You must pay a holding deposit to be eligible for FREE WEEKEND VIEWING TRIPS. The deposit will be fully refunded, if you are not fully satisfied with your chosen Moroccan property. Holding deposits are requested to show commitment and reserve the best possible available property to avoid disappointment on arrival.

The offer applies to a maximum of two people for two nights, any two nights are ok. Accommodation in a specified hotel is subject to availability and entirely at the company’s discretion.

If clients are flying to Malaga accommodation shall be 1 night in Spain and 1 night in Morocco.

All viewing trips must be completed within 30 days of clients leaving a holding deposit.

Property Borders shall refund £100 per person (max 2 people) for flights to Malaga and £200 per person (max 2 people) for flights to Tangier. You must book and pay for your own flights initially. To claim the money for your visit you will need to produce the flight confirmation and provide personal bank account details (inc. IBAN code) to where the refund is to be made. We can only reimburse for flights in this way. If the appointment is not attended for any reason we will not reimburse flights.

If viewing Morocco and flying to Malaga, you will be collected from the airport and chauffeured to Algeciras or Tarifa for the ferry to Tangier, collected in Tangier and taken to your accommodation. (Ferry unavailable in July/Aug – direct flights recommended).

Inspection trips are an important part of the buying process. They are not solely about viewing the site or the property they also give clients a chance to experience Morocco and its unique culture.

Travel To…

Direct or indirect flights are available throughout the UK. (direct flights are available with Ryl Air Maroc and GB airways). Alternatively take a budget flight, Easy Jet, Ryan Air or BMI, to Malaga, a coach/taxi to Tarifa or Algeciras then a ferry over to Tangier (this can take as little as 30 minutes). We can usually arrange collection at Malaga, car service to Tarifa or Algeciras and collection at the port in Tangier. (contact us for further details)
Fly indirectly to Oujda, which is approx 50km from Saidia, there are plans for future direct flights.

Or fly to Malaga and catch a connecting flight to Melilla with airlines such as Iberia. Flights are frequent, cheap and take just 45 minutes. Melilla is then only an hour and a half from Saidia by car.

Direct flights from the UK leave Gatwick and Heathrow daily and from Luton on Mondays, Wednesdays, Fridays and Sundays. Among airlines offering flights are BA, Ryl Air Maroc, and Atlas Blue and from July, Easyjet.

For a low cost alternative fly to Fes with Ryanair to access areas of Northern Morocco including Meknes, Tangier & Saidia. (please note further travel by car, coach or train will be required).

Some clients opt to purchase their properties without viewing especially if they are investment buyers or have traveled to Morocco in the past and know that they liked and enjoyed the country but for everyone else our English speaking representatives are available at all our advertised resorts to show clients a full range of properties. Once you have settled in at your hotel our local representative will take you to view your chosen property/site, give you a guided tour of the area and answer any questions you may have with no pressure.

Alternatively if you do not wish to leave a holding deposit we are happy to assist you in arranging accommodation and advise you on travel arrangements, just advise us of your chosen dates for travel BEFORE booking flights/accommodation and we will be pleased to arrange collection from the airport and transport you free of charge to your hotel. Your return to the airport at the end of your visit can also be arranged by us. There is no charge for the airport collection and delivery service.

Contact us for further information regarding viewing trips or advice on travel arrangements: 0208 508 9905 or enquiries@propertyborders.com

Source www.propertyborders.com

FAQ Morocco property by Property Borders

Why Should I Purchase Through Property Borders?
We have years of experience in the Moroccan property market and have built up a network of contacts. As we are a Moroccan owned agency we have a genuine interest in promoting the country.

Who Can Purchase Property In Morocco?
Anyone. Morocco is currently encouraging foreign investment and offering great tax incentives. This is especially good for UK and US citizens as there is a double tax treaty between these countries and Morocco

Will I Be Able To Rent My Property?
Yes. Most of our developments have rental offices associated with them. They offer a full rental/management service. Alternatively, you can arrange the rental of the property yourself. Rental occupancy is usually 85% during peak season and you can expect 80-100 euros per night. New owners have no rental tax to pay for the first 5 years

I Have Seen The Property I Want. What Next?
You will need to place a deposit, usually known as a holding deposit. Some developers will also request a small handling charge. Both of these will be refundable for a period of 30 days to give you a chance to view the property or the site.

What Are My Buying Costs?
You will need to budget for an extra 5% to cover notorial and property registration fees.

Are Mortgages Available?
Yes, Mortgages can be taken with Moroccan banks offering 70% of the purchase price. To apply for a mortgage you will need the following:
1. Attestation of employment
2. 6 months bank statements
3. Your last 3 wage slips

Are The Properties Freehold?
Yes. Property Borders only deals in properties that are 100% freehold.

How Quickly Are Property Prices Rising In Morocco?
Prices are rising between 15-30% annually.

Will I Need A Solicitor?
Yes. We have contacts with English speaking solicitors.

Do I need a Moroccan bank account?
Yes. To fully repatriate your funds overseas you will need to prove that the money for the property initially came from abroad. To do this you will need a Moroccan bank account which we will arrange for you.

What is the exchange rate?
The exchange rate is 15.8 MAD to £1 sterling (approximately)

Source www.propertyborders.com

Morocco Facts info by Property Borders

Head of State: King Mohammed VI

Population: 31.6 million (UN, 2005)

Capital: Rabat

Area: 710,850 sq km (274,461 sq miles) (including W Sahara)

Major languages: Arabic (official), Berber, French, Spanish

Major religion: Islam

Life expectancy: 67 years (men), 72 years (women) (UN)

Monetary unit: Dirham:- £1 = 15.8dh

Main exports: Minerals, seafood products, citrus fruit

Internet domain: .ma

International Dialling code: +212

Location: Northern Africa, bordering the North Atlantic ocean, the Mediterranean Sea, between Algeria and Mauritania and 14 km from southern Spain.

Total Land Area: 710.850 Square kilometres.

Coastline: 2.900 km Atlantic coast - 500 km Mediterranean coast.

Population: 28,481,000

Language: Arabic (official), French, Berber dialects.

Entry requirements: Passport. ( Check passport validity and visa requirement for some countries).

Transportation: Railway network 1.893 km, Highways and paved roads 59.474 km.

Currency: 1 Moroccan Dirham = 100 centimes.

Electricity: 220/240 volts.

Driving: On the right side.

Airports: Agadir, Al Hociema, Casablanca, Dakhla, Essaouira, Fes, Laâyoune, Marrakech, Nador, Ouarzazate, Oujda, Rabat-Salé, Tangier and Tetouan.

Gastronomy: Moroccan cuisine is reputed to be one the top cuisine all over the world: Couscous, Mechoui, Pastilla, Tagines, pastries and the national drink, mint tea.

Climate: The climate varies according to the regions, the coast has a very mild climate in the summer and humid in the winter, average temperature from 16°C to 26°C. Inland is much warmer during the summer up to 33°C.

Source www.propertyborders.com

Purchase Procedure info from Property Borders

Simply ring Property Borders and advise us of your chosen property. A holding deposit is required to take the property off the market and fix the price. This can be paid by Visa/Mastercard or in some circumstances a cheque.

The holding deposit is fully refundable for a period of 30 days, unless by prior agreement. This will give you sufficient time to visit Morocco to view. If you cannot visit during this period you will be expected to make your holding deposit definite, i.e. non-refundable. Alternatively, if you decide not to proceed your deposit will be refunded in full.

Once you have paid your initial holding deposit and confirmed that you wish to make your deposit definite, our associates will forward to you a contract setting out the conditions of purchase. The balance of your deposit is then paid to the relevant developer. Please note that contracts are only issued when initial deposits are made on a definite basis.

What happens after this stage will depend on which development you have purchased on. Some developers require no further payments until completion, whilst others request periodical payments whilst building is ongoing (ask us for further details)

Upon completion you will sign the mortgage agreement with the lending bank (only if taking the mortgage) and pay the closing costs (approx 5% of the total price in Morocco).

At this point you will receive the keys and the property is yours. Our associates will be on hand to assist you throughout the transaction - alternatively, if you do not wish to visit Morocco to complete, Power of Attorney can be given to your allocated lawyer who will arrange the completion on your behalf.

Source www.propertyborders.com

Morocco Plan Azur / Vision 2010 info from Property Borders

King Mohammed VI launched the “Vision 2010” strategic tourist development program in January 2001, aiming to make Morocco one of the world’s premier tourist destinations with a target of 10 million visitors in 2010 and to create 600.000 new jobs.
Over the next five years Morocco will experience considerable change in line with Plan Azur. The government’s £2.2 billion strategy will increase tourism from approx 4.5 million visitors to 10 million visitors by 2010.
The infrastructure development program which underpins “Vision 2010” also implies and guarantees a high degree of convergence between the requirements for and Morocco’s commitment to top class standards. This strategy has already begun to bear fruit. Since the launch of “Vision 2010,” more than 20,000 new hotel beds have already come on the market and thousands of others have been renovated.
In 2010, Morocco will have more than 250,000 hotel beds, including 180,000 located in or around the cities. Under Plan Azur six new seaside resorts ( 5 on the Atlantic coast and 1 on the Med) will provide a total of more than 40,000 hotel beds.

Mediterranean Saidia, Saidia
The first of the Plan Azur developments to be launched and the only one on the Mediterranean coast. In total the development will cover 7.000.000 m2 and faces directly onto a 6km long sandy beach. There will be three 18 hole golf courses and a variety of 4* & 5* hotels, a 750 berth marina as well as a commercial centre with branded/designer shops. The development also features bars, restaurants, night clubs, private clinic, water parks and a spa and wellness centre whilst keeping 40% of the development a green zone.

Port Lixus, Larache
Located along the Atlantic coast near the town of Larache this development will feature two 18 hole golf courses designed by the Spaniard Enrique Saenger along with 4* & 5* hotels. The development will also benefit from beautiful residential villages and villas as well as a 120 berth marina. The second most important roman ruins in Morocco, Lixus, lie close by on the right bank of the river Lucus.

Other leisure activities include

* Equestrian centre
* Thalassotherapy centres
* Sports centre
* Craft village

Mogador, Essaouira
Located on the Atlantic coast in the area of Diabat this development will measure in the region of 5,700.000 m2. The main features of this development are sure to be the two Gary Player golf courses. One of 36 holes the other 18. The hotels, riads, villas, golf academy and practice course are laid out along the two spectacular courses facing the sea.

Mazagan, El Jadida
The future Plan Azur development of Mazagan (El Haouzia), being spearheaded by Kerzner group (Sun City – South Africa, Atlantis Beach – Bahamas) is located near El Jadida, This site includes three miles of beachfront along Morocco's Atlantic coast. Approximately an hour's drive from Casablanca, the site provides for easy access to-and-from Casablanca International Airport, which currently receives daily flights from 22 European cities. Access to the area is supported by a rail network as well.
The cost of this neighbouring project is estimated at $230 million and is expected to consist of a 600-room hotel, two 18-hole golf course, convention space, restaurants and a casino.
The site will be surrounded by eucalyptus trees and will cover an area of around 500 hectares.
Various water sports will be available along with general entertainment and a sports academy.

The project is expected to have an accommodation capacity of 7600 beds, including 3700 hotel beds.
The project is being developed by Kerzner and its local partners, Societe Maroc Emirates Arabs Unis de Developpement ("SOMED") and Caisse de Depot et de Gestion ("CDG"), they have collectively entered into an agreement with the Government of the Kingdom of Morocco (the "Government") for the development of a destination resort casino. In addition, the Company, SOMED and CDG have entered into an agreement in principle with respect to the ownership, development and management of this resort.

Taghazout, Agadir
Taghazout's site is located 15 km south of Agadir, the first seaside resort of the Kingdom, 300 km from Marrakech, the first cultural destination of the country and 170 km from the town of Essaouira .
The nearest airport to service this resort is the international airport of Al Massira in Agadir which is located 40km away
Taghazout's site is endowed with a semi-arid type climate, and it records a low level of rainfall: less than 40 days per year and more than 3000 hours of sunshine a year.

This new project will be developed by the Colony Capital/ Satocan / Lopesan Group.

The project will be equipped with 21000 beds. It will have also at its disposal two golf courses, a medina with business spaces, handicraft and different activities, a spa, a clinic (argano-therapy) and an institute of the argan tree.

Plage Blanche, Guelmim
The developer for this site is yet to be confirmed

Source www.propertyborders.com

Tax Incentives info from Property Borders

• 0% Annual property tax for the first 5 years.

• After this time the tax is based on the properties annual rental value and you will be taxed on 0%-30% of this.

• If the property is your full time residence or holiday home you are entitled to a 75% discount.

• 0% tax on rental income for the first 5 years

• After this period tax is levied at 13.5% of the annual rental income

• 0% capital gains tax if profit is under £40K or after 10 years of ownership.

• Otherwise Capital Gains Tax (TPI) is 20% of the profit, with a minimum of 3% of the sale price. Properties sold after more than 5 years ownership but less than 10 years are subject to TPI of 10% of any capital gain over 1 million Dh (approx £63,000).

• 0% inheritance tax when a property passes to a family member.

• Make things easier for your family in the event of your death by making a Moroccan will.

• 100% repatriation of funds when you sell

Source www.propertyborders.com

Property Borders explains Investment in Morocco

• In January 2001, his majesty, King Mohammed VI initiated “Vision 2010” for Morocco’s tourism industry. A national program to create the infrastructure to host 10 million tourists by 2010. This plan includes 6 new luxury resorts with all the modern amenities that tourists expect.

• Building of the first tunnel linking Europe/Spain to Africa/Morocco by 2010.

• 11.9 million to be spent on new motorways and roads with over 1000 kilometers of new roads being laid

• Prestigious Projects being built by middle eastern investors, injecting billions of dollars into tourism projects such as golf courses, marinas, beach clubs and 5* hotels.

• Open skies agreement, signed recently with the EU, will open up the skies to allow no-frills/ low cost airlines to fly to Morocco.

• Free trade agreement between Morocco and USA which came into effect 2006. This is already having positive effects on the economy

• By 2010 Morocco expects to become part of the Euro-Med free trade zone and working towards a close relation with the EU. A significant development that will undoubtedly boost the economy further still.

• UAE investors are pouring 4.8 billion dollars into building real estate, shopping malls, airport and transport infrastructure and beach resorts.

• Booming property market with yearly price rises of between 20-30%

• No rental tax for the first five years of ownership (new properties)

• Capital Gains Tax (TPI) is 20% of the profit, with a minimum of 3% of the sale price. Properties sold after more than 10 years ownership are fully exempt from TPI. Properties sold after more than 5 years ownership but less than 10 years are subject to TPI of 10% of any capital gain over 1 million Dh (approx £63,000).

• Full repatriation of funds overseas in the event of a resale.

• Excellent, year round, rental opportunities with tourism increasing every year.

• Property Prices at least 50% lower than Spain, which is only 9 miles away.

• Plans for new high speed rail network linking major cities.

• Morocco in top five places to invest as stated by channel four real estate program.

• Secure investment, law based on French Notary system

• There is no inheritance tax if you leave your property to a family member

Source www.propertyborders.com

Property Borders explains reasons to invest in booming Morocco

• Only 2 Hours 40 mins from UK.

• Fast ferry to Spains costa del sol takes only 35 mins.

• Time zone same as UK GMT.

• One of the best cuisines in the world and alcohol Served in bars and restaurants.

• Languages spoken Arabic, French, Spanish, English.

• Better climate than Spain Average temperature in north 19 degrees celsius.

• Booming Tourism Industry with Year round rental potential.

• Exotic, mystical culture

• Moorish Architecture at its best.

• Politically stable country with a pro western government encouraging foreign investment.

• 1,400 miles of Stunning beaches

• Great for sport lovers with top class golf courses, skiing, surfing and trekking available.

• Generosity and Hospitality is the backbone of the county.

• Morocco is a emerging market economy. With strong growth.

• Very cheap transport for travel in and out of cities.

• New infrastructure already under construction roads, marinas, airports, motorways, ports.

• Visionary innovative king promoting the country

• Yacht club and berth fees for under £27/month

• Low cost of living Enjoy luxury lifestyle for very little

• Morocco is a celebrity magnet. Famous home owners include Richard Branson, The Rolling Stones, The Beckhams, Yves Saint Laurent and Malcolm Forbes

Source www.propertyborders.com

About Morocco by Property Borders

The full Arabic name of the country translates to The Western Kingdom. Al Maghrib (meaning The West, Morocco is a country in northwest Africa. It has a long coastline on the Atlantic Ocean that reaches past the Strait of Gibraltar into the Mediterranean Sea.
The name Morocco in many other languages originates from the name of the former capital, Marrakech.
The Kingdom of Morocco recovered its political independence from France and spain on March 2 1956.

Morocco was the first nation to recognize the fledgling United States in 1777 and has the oldest non-broken friendship treaty with the country, the Moroccan-American Treaty of Friendship which has been in effect since 1783.
Morocco is a constitutional monarchy, with a popularly-elected parliament Most Moroccans are Sunni Muslims of Arab, Berber, or mixed Arab-Berber stock. The Arabs invaded Morocco in the 7th and 11th centuries and established their culture there.
Morocco is a country of contrasts, where only short drives out of modern city centres, leads you right into societies where large parts of the social fabrics remain intact from centuries back in time.

Morocco is in many ways a country apart. It nestles on the northwestern tip of Africa, separated from the rest of the continent by the towering Atlas Mountains and by the Sahara itself. Its climate, geography, and history are all more closely related to the Mediterranean than to the rest of Africa, and for this reason visitors are often struck by the odd sensation of having not quite reached Africa in Morocco. In the north, its fine beaches, lush highland valleys, and evocative old cities reinforce this impression. Yet, as one moves south and east, into and over the starkly beautiful ranges of the Atlases, Morocco's Mediterranean character melts away like a mirage. The Sahara stretches out to the horizon, and forbidding kasbahs stare at you in the face.

Source www.propertyborders.com

Opodo touts Morocco as a top tourist destination in 2007 due to low cost flights August 7, 2006

July saw the first Moroccan low cost airline land in Marrakesh, in the form of Easyjets cheap flight from Gatwick, it marked a step up in gear for Morocco’s property market. Morocco has always enjoyed a higher tourism profile than other North African countries. In a survey released today by Opodo, a leading online travel website Morocco featured third on its Top 10 of travel destinations on the up for next year. As a rule, this is a good indicator of future property investment potential as the market establishes a holiday rental sector.

Morocco’s property potential is further highlighted by figures released by the Tourism Ministry that tourist arrivals to Morocco during the first five months of 2006 have registered a rise of 16% in comparison to the same period of last year. Some 2,090,000 tourists, including 696,000 Moroccan expatriates paid a visit to the North African kingdom in this period. The major Moroccan destinations of Meknes (centre), tourist activities increased 31%, Essaouira (west, +27%), Agadir (central west, +14%), Casablanca (+11%), Tangier (north, +9%), Rabat (+8%), and Marrakech (+6%) located on the northern edge of the Sahara. Tourism Minister Adil Douiri said he expected tourism revenue to be between 4.1bn euro (about $5.1bn) and 4.5bn euro for 2006, up from last year’s 3.7bn euro. This would make up 10 percent of expected GDP. The minister estimated that 6.5 million tourists would visit the country this year, 700,000 more than last year.

These positive increases can be attributed to an ‘Open skies agreement’ being signed by EU and Moroccan authorities to relax airspace regulations and allow any EU registered airline to operate between the EU and Morocco. The surge in increased visitors will only serve to increase ahead of new flight routes scheduled to operate from 2007. According to flight information provider, OAG, there were around 39 flights a week between London airports and Marrakesh before easyJet’s launch; once Ryanair and Thomsonfly get onboard there will be 99 flights a week between the two cities.

Jet 4 you is TUI’s brand new Morocco-based low cost airline which began flying in Feb 2006. At present it flies between Paris Orly and Morocco’s principal airports of Fez, Marrakesh and Agadir, but may expand to the UK. Morocco is the third most popular holiday destination for the French and it has inherited its legal, education and train systems modelled around those of the French.

Ryanair will commence flights to Fez and Marrakech from Frankfurt Hahn airport in Germany, as well as two new routes from London from the end of October, 2006. Europe’s largest low cost airline will also fly from its new base at Marseilles airport in France to Fez, Marrakech and Oujda airports in Morocco.

British Airways has operated flights from London Gatwick airport to three cities in Morocco: Fez, Marrakech, Agadir for sometime and its low cost web fares are popular with Brits. BA through subidiary GB Airways has introduced a twice-daily service to Marrakech from London Heathrow along with a daily service to Casablanca and a twice-weekly service to Fez. The airline will also continue to run a twice-weekly service to Agadir from London Gatwick. The substantial flight increase to Morocco from the UK start this winter, offering UK passnegers a total of 32 weekly flights to Morocco, increasing its pull as a popular short-haul winter sun destination.

North Africa’s first low cost airline, Atlas Blue (part of Royal air Maroc)operates out of six Moroccan airports - not only from the two most popular airports, Marrakech Menara and Agadir Al Massira, but also from Tanger and Al Hoceima in the north of Morocco and from Nador and Oujda in the east. The low fare subsidiary of Royal Air Maroc flies to numerous destinations in France and also to Milan in Italy, Geneva in Switzerland, Brussels in Belgium, Amsterdam in the Netherlands and to London Gatwick in the UK.

With several upgrades airport and plans for new airports in Tangier and Tetouan, other low cost airlines such as Monarch and Thompson are rumoured to have signed up to various Moroccan airports. On the back of these new flight agreements, flag carrier Royal Air Maroc has committed to increasing its fleet by 50% in 2007. Moroccan Property investment is on the up and tapping undiscovered locations and growing resorts as result of increased tourism offerings is a good bet so watch out for Part Two later on in the week on new off plan projects being launched in Morocco.

King visits Plan Azur site of Saïdia

His Majesty King Mohammed VI proceeded yesterday to Saïdia, to the launch of several projects of urban and tourist upgrade of the city, whose realization will require a global cost of the order of 369 million DH The Sovereign also chaired the ceremony of an agreement concerning the project of purification of the city centre of Saïdia and the tourist complex (20 million DH), the organization of the promenade of Saïdia (74 million DH) and the project of organization of the entrances to the city (21 million DH). The signature of this agreement intervenes in application of the High Royal orientations contained in the speech pronounced on March 18th 2003 in Oujda, aiming at the development of the Eastern Region and at the creation of a new tourist station at Saïdia. It translates the interest which takes on the operation of urban upgrade of this city, considered as a tourist area par excellence because it will have one of the largest national sea resorts within the framework of the “Vision 2010”. The agreement was signed by the Minister of Tourism, the delegate in charge of the Environment and the Town planning, the Head office of Local governments, Wilaya of the Eastern Region , council of the Eastern Region, province of Berkane, the Agency of Development of Provinces and Prefecture of the Eastern Region l, ONEP and municipality of Saïdia. Involving the project of purification of the city center of Saïdia and the tourist complex, which consists of the construction of a network of waste water and rain water drainage 70 km in length and of 5 pumping plants. The first section of this project, which will benefit a population of 130.000 inhabitants, will require a budget of the order of 20 million DH. The financing of this project is assured by the National Office of Water and the group FADESA. As for the project of organization of the entrances of the city of Saïdia, it concerns the doubling of the provincial road 6.000 (south entrance of the city on a 2 km length) and the main road N 16 (entered by the city northwest side on a 3 km length). This project, which will mobilize investments of the order of 21 million DH, also foresees the creation of a new connection between the provincial road 6.000 and the loop road on a distance of 1,5 km. The works of this project will begin in mid-January and to end at about July 2007. The project of development of the promenade of Saïdia and the restoration of Kasba project, among others, the development of green spaces (adaptation of palm trees oasis), the lighting of the promenade (lampposts) and the provision of pavilions, showers, sporting areas etc. H.M. The King also followed explanations on the project of construction of the way of drainage and a canal of protection of the city of Saïdia and the new tourist resort of the city against the floods 17 km in length. This project will be realized by the Ministry in charge of Water resources. At an overall cost of 254 million DH, this project, the duration of execution of which is of 18 months, will be financed by the Fund of Hassan II for the economic and social development and the Ministry of Tourism, Crafts and Social Economy. The project will allow to facilitate the access to the tourist resort of Saïdia, to attract more tourist investments and to strengthen the road juncture between Ahfir-Saïdia and Oujda-Ahfir. In his arrival, H.M. The King reviewed a detachment of the Royal Guard who returned the honors before being greeted by Karim Ghellab, Minister of Equipment and Transport, Adil Douiri, Minister of Tourism, Craft and Social Economy, Toufiq Hjira, Minister of State in charge of the Environment and the Town planning and Abbdelkébir Zahoud, Secretary of State for Water. The Sovereign was also greeted by the general manager of local governments, the wali of the Eastern Region and the governor of the prefecture of Oujda-Angad, the general manager of the Agency of development of the Eastern Region, the governor of the province of Berkane, the president of council of the region, the municipal president of council, the general manager of the ONEP, the director of the regional Office of agricultural development, the elected members, representatives of the local authorities and by other personalities.

Tuesday, 23 January 2007

Moroccan property show to be held in London

The 1st Morocco Property Show and Lifestyle will be held next June 1st to 3rd at the Selfridge Hotel in downtown London (Orchard Street at Oxford Street).This event will gather real estate professionals from Morocco, the UK and Spain who have in common the development and/or sale of property in Morocco.A booming property market over the last 5 years or so, Morocco is also attracting a great deal of interest from European but also Arab investors from Dubaï, Bahrein and Qatar;Our company Malabata Presse based in Tangier, Morocco since 192 is proud to organize this event and to contribute to the improvement of business and human ties between the UK and Morocco.More details on : http://www.moroccopropertyshow.com/ ,

6 million tourist visit Morocco in 2006

Rabat, Jan. 10 - Some 6.4 million tourists visited Morocco in 2006 compared to 4.4 million in 2002, revealed, here Tuesday, tourism minister Adil Douiri.

Speaking at the House of Advisors' question time, the minister underlined that the number of night guests increased by 10% in 2006, deeming that advertisement is an essential tool to accompany the investors' efforts aiming to promote their products.

He recalled that the government has taken a series of measures to promote tourism product through allotting it USD 6Mn every year, besides the budget destined to hotels and sector professionals.

Morocco has elaborated a strategy, dubbed "Vision 2010", that aspires to attract 10 million tourists by 2010. This strategy also aims to create 160,000 beds, bringing the national capacity to 230,000 beds and to create some 600,000 new job opportunities.

The Vision is meant to diversify the tourism product, develop training and partnership in the air transport and other related tourism fields and increase tourism contribution in GDP by 8.5% annually to reach 20% by 2010.

Source Map

King launches double-deck trains in Fès

Property Borders News Article

Fès, Jan. 18 - King Mohammed VI launched, on Thursday from the central city of Fès, double-deck trains that are to be used in Moroccan railroads network.

Twenty-four double-deck trains were purchased by Morocco for a global sum of USD 233Mn to respond to the increasing demand for this means of transportation and improve the travel quality.

The sovereign also launched large-scale railroad projects, consisting in building a new train station and duplicating the Fès-Meknès track.

The construction works of the USD 7Mn new station of Fès are expected to last for 18 months, whereas the Fès-Meknès track duplication on 57 Km will cost USD 151 Mn.

A total of USD 1.8Bn was earmarked by the Office National des Chemins de Fer (ONCF) to these major projects that will be carried out over 2005-2009. This ambitious investment program aims at increasing the efficiency of railroad services and boosting social and economic conditions.

Later on, King Mohammed launched the second phase of liquid sanitation network upgrading, worth USD 2.3Mn, and has enquired about the progress of a USD 81.7Mn water purification station.

This station, which will be operational by the end of 2009, will contribute to enhance river water quality and to strengthen the current purification stations network.

The Pre Release Condo Hotel suites at Port Lixus sold out

Property Borders News Article
The Pre Release Condo Hotel suites at Port Lixus sold out

Pre-Launch hotel suites SOLD OUT at Condo Hotel Port Lixus
news date 22/01/07

Property Borders the UK'S 1st Moroccan owned property agency are pleased to announce that the Pre-Launch sales phase at Port Lixus Larache is now over and all discounted units are now reserved at the new Plan Azur development, Condo Hotel Port Lixus. The developer is now finalizing the upcoming Launch Offer and we urge any interested clients to register details at enquiries@propertyborders.com
in advance of the next release.

Please stay tuned for further details coming in the very near future from Property Borders.

Sunday, 21 January 2007

2007 - A boom year for Moroccan property?

Source Property Borders

For a long time the major interest in Moroccan property was from Spain and France. Now that is changing. According to many of the major players the Irish and English are rivaling the traditional markets.

There are some interesting patterns emerging. One is that the French seem particularly interested in the South of the country - Marrakech and the region around Essaouira. English interest appears to span the country with the market divided between those looking to purchase and restore houses in the Fez Medina or (to a far lesser extent) Marrakech and those with a lifestyle investment heading to the coastal areas including Asilah and the newer developments around Tangiers.

The Spanish buyers of Moroccan property are opting to save on travel expenses and remain close to the North, with areas such as Tangiers, Larache and Asilah being of particular interest.

As we have written in earlier articles, Tangiers in the process of revitalizing itself with a new marina, luxury hotels, beachfront residential developments, restaurants and nightclubs.

Where are the Americans?

For those whose prime objective is capital gain, 2007 would appear to be the year to get into the market. Yet, the Americans seem very slow to catch on to what is happening in Morocco. Although there are Americans getting involved, the numbers are far below that of the British, Irish, French or Spanish.

While distance and recent political events may go some way to explaining the American attitude, property experts also point to the generally low level of knowledge about Morocco amongst the American public. Yet further south, in South America, interest is growing.

In a recent press release, Mustapha Mezouri one of the directors of the English company, Property Borders said - "This year we have seen the market expand in the UK & overseas with buyers contacting us from as far afield as South America. We have also sold property to clients from China and Australia. As an Arabic/English speaking agency we have had much interest from Middle Eastern countries who are aware of the property boom in Morocco and have followed their respective governments who are heavily investing their oil wealth in this emerging nation."

When Property Borders launched the Alcudia Smir resort close to the prestigious Marina Smir area it had a phenomenal response from buyers with the first phase of properties selling out in under 2 months.

"The second phase will be released shortly" says Mezouri "and we are expecting just as much a frenzy as the first phase of Alcudia Smir was". The Paradise Golf and Beach Resort has proved very popular for investors and 2nd home buyers, it is located on the outskirts of Tangiers in a peaceful scenic environment. It is only 10 minutes from Tangier International Airport which is currently being extended in preparation for the surge of tourists & the expected arrival of the low cost carriers like Monarch Airlines and Easy Jet.

It would seem that 2007 may well be a boom year. How long it lasts is another question.

Source Property Borders


Why Property Borders?
The UK’s first Moroccan owned Property Agency….
Property Borders are the longest established Moroccan property experts in the UK.

We aspire to the highest level of service and standards. For this reason we are members of FOPDAC Federation of Overseas Property Developers, Agents & Consultants. Membership of the Federation is restricted to companies or individuals whose probity is beyond reasonable question. The individual principals must have the experience and professional expertise to meet the strict criteria set in the Federation's Code of Ethics

We are recommended by the Moroccan Tourist Office and the Moroccan Embassy for our expert knowledge of Morocco. Our linguistic skills also enable us to have a close working relationship with the Moroccan authorities.

Official Plan Azur Agents
Property Borders are official agents/promoters of all the Plan Azur/Vision 2010 developments including our next launches of Port Lixus and Mogador.

Staff orientation trips
Property Borders sends its entire staff on regular visits to the sites we are promoting and on regular cultural visits to Morocco. Unlike many of our competitors this enables our staff to be familiar with the properties we are selling and the country as a whole.

Property Borders is an independent agency
Unlike many agents who work solely with one or two developers, Property Borders offer a wide range of properties which have all been researched for their potential growth in this dynamic market. Full due diligence is always carried out.

Public Relations
As we are a Moroccan run agency, Property Borders is regularly asked to feature in national press and overseas property magazines. We have also contributed to television programmes based on buying property in Morocco.

No hard sales techniques
Property Borders prides itself on its “no hard sales” policy. Our past experience has shown that our portfolio of quality properties go a long way to selling themselves.

Moroccan hospitality with British professionalism
As Moroccans we genuinely care about Morocco and the long term benefits the country will experience through FDI (foreign direct investment).

One stop shop
Property Borders offers a complete solution for buyers. We put our clients in touch with professional developers and associates. We offer advice on where to purchase properties in up and coming areas for maximum investment growth. We can refer you to recommended notaires and solicitors. We can assist you in opening a Moroccan bank account and obtaining a mortgage. We offer advice on buying or selling resale property.

Emaar unveils Dh4.5 billion Bahia Bay project in Morocco


DUBAI — Emaar Properties, and ONA Group, the Moroccan industrial and financial group, yesterday unveiled its second international venture in Morocco - Bahia Bay. The Dh 4.5 billion ($1.2 billion) project will see the joint venture develop a large-scale residential golfing community along the picturesque Moroccan coast.

In close proximity to Casablanca, the 530-hectare development will combine all the benefits of an Emaar golfing community along with the advantages of a coastal location. This announcement closely follows the venture's first project launch last month in Morocco - Amelkis II, the luxury residential golfing complex in Marrakech which allows individual buyers to purchase plots of land and design and build their ideal home.

Mohamed Ali Alabbar, Chairman Emaar Properties said: "Situated along the breathtaking Moroccan coast, Bahia Bay is a unique development in an idyllic setting. Following the success of our existing golfing communities in Dubai - Arabian Ranches and Emirates Hills - the Bahia Bay community will become a flagship development for Emaar's expansion in the North Africa region." Residential units in the Bahia Bay project will range from luxury villas and spacious semi-detached houses to townhouses and apartments with views overlooking the golf course and spectacular views of the Atlantic Ocean.

The development will also feature a beach hotel, golf hotel, beach clubs, equestrian facilities, retail and entertainment and a community and recreation centre making Bahia Bay an ideal location for residents and visitors alike. The development is expected to be completed in five years.

This latest announcement sees the continuation of Emaar's roll out strategy of undertaking prestigious master-planned residential developments in strategic locations - whether in the heart of the city or coastal picturesque locations. As it bids to consolidate its position as the world's premier property developer, Emaar continues to provide buyers with quality lifestyle projects and shareholders with value.

Morocco is a significant part of Emaar's international expansion plans. Already we have seen the great potential in the Moroccan market with our Amelkis II development. Not only will this project benefit the people of Morocco, but it will also boost tourism within the area. Our mission is to offer our customers world-class communities - constantly integrating parks, landscaped areas and retail centres into master-planned themed lifestyles, added Alabbar.

With rock pools and breakwaters to help create sandy white beaches and an array of water sports and leisure options provided by the beach clubs, the latest Emaar offering in Morocco makes the most of the beautiful coastal views and surrounding natural beauty. Golfing facilities provide residents with the perfect opportunity to improve their golf as well as making the most of the relaxed and friendly clubhouse.

Located in close proximity to the Casablanca/Rabat coastal freeway, Bahia Bay is within easy reach of both major cities and is the ideal getaway for those in search of a premier luxurious lifestyle. Extensively landscaped with an array of indigenous plants and featuring picturesque water features, expansive open parks and a world-class golf course, the lifestyle offering is beyond comparison.


Emaar plans for USD 1.2 billion Moroccan project

Emaar Properties, the largest dubai based real estate developer in the world in terms of market capitalization and ONA Group, the leading Moroccan industrial and financial group, has plans for a USD 1.2 billion project in Morocco - Bahia Bay. This will be a large scale residential golfing community along the picturesque Moroccan coast expected to be completed within 5 years.
Bahia Bay
In close proximity to Casablanca, the 530 hectare development will combine all the benefits of an Emaar golfing community along with the advantages of a coastal location. This announcement closely follows the ventures first project launch last month in Morocco - Amelkis II, the luxury residential golfing complex in Marrakech which allows individual buyers to purchase plots of land and design and build their ideal home.

Mr Mohamed Ali Alabbar, Chairman Emaar Properties said: "Situated along the breathtaking Moroccan coast, Bahia Bay is a unique development in an idyllic setting. Following the success of our existing golfing communities in Dubai - Arabian Ranches and Emirates Hills - the Bahia Bay community will become a flagship development for Emaar's expansion in the North Africa region."

Residential units in the Bahia Bay project will range from luxury villas and spacious semi-detached houses to townhouses and apartments with views overlooking the golf course and spectacular views of the Atlantic Ocean.

The development will also feature a beach hotel, golf hotel, beach clubs, equestrian facilities, retail and entertainment and a community and recreation centre making Bahia Bay an ideal location for residents and visitors alike.





1 bed apartments, approx 70 m² including terrace
607.750 Dirhams (£38,465 @ 15.8 Dh/£) Deposit £15,386 balance by mortgage.

2 bed/2 bath ground floor apartments, approx 90 m² including terrace
828.750 Dirhams (£52,452 @ 15.8 Dh/£) Deposit £20,981 balance by mortgage.

2 bed/2 bath penthouse apartments, approx 90 m² including terrace, plus roof terrace
994.500 Dirhams (£62,943 @ 15.8 Dh/£) Deposit £25,177 balance by mortgage.

3 bed/2 bath penthouse apartments, approx 116 m² including terrace, plus roof terrace
1,326.000 Dirhams (£83,924 @ 15.8 Dh/£) Deposit £33,570 balance by mortgage.

Apartments will be in small blocks, 2 storeys high. Ground floor apartments, plus first floor penthouses with access to a flat rooftop sun terrace.
3 bed/2 bath detached villas with private pool (approx 7mx3m)
approx 135 m² including terrace plus 400 m² plot
2,210.000 Dirhams (£139,873 @ 15.8 Dh/£) Deposit £55,949 balance by mortgage.

Please note that this is a pre-launch offer.

Accordingly there maybe some changes to layout and specifications. However, until such time as the definitive plans, distribution and specifications are available all reservations taken will be on a fully refundable basis.

Once plans are available clients who have paid refundable reservations will be given a priority allocation. When completely satisfied with their reservations clients will be expected to visit Morocco to view the site (Free Weekend Inspection Visit applies). Provided that clients are fully satisfied with their purchase they will then be expected to make their reserve definite (i.e. non-refundable) and pay the balance of the 40% deposit.