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.
View property borders website
Friday, 29 June 2007
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
-Agencies-
View property borders website
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
-Agencies-
View property borders website
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.
View property borders website
“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.
View property borders website
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.
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
View property borders website
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
View property borders website
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
View property borders website
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
View property borders website
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
View property borders website
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
View property borders website
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