Development Locations
Morocco
- The country of Morocco on the north western tip of Africa and a mere 14km across the straits of Gibraltar from Spain, enjoys a climate and geography more akin to Europe than to Africa and, to many visitors, does not seem typical of its continent, despite sharing borders with Algeria and Mauritania.
- Morocco is the oldest kingdom in the Muslim world, the westernmost outpost of Islam. History is always present here, in the breathtaking architecture of Imperial Cities and of desert Kasbahs and in ancient tombs scattering the hillsides. Despite its close proximity to Europe it is a land still veiled in mystery for most Westerners, an exotic kingdom that intrigues and inspires. Here are the sights and smells of Arabia, the legendary souks of Fès and Marrakech overflowing with colourful carpets and pungent spices. Yet, here too, are the rhythms and traditions of Africa, the tribal dances and camel trains of the Sahara, constant reminders of the great continent to the south.
- Morocco’s coastlines border the Atlantic Ocean on the west, the Strait of Gibraltar (of which it controls part of) and the Mediterranean Sea. Most of the country’s population live north of the Atlas Mountains and run from the south west to the north east; the area south of the mountains is mostly in the Sahara Desert. The country’s climate is mainly similar to the Mediterranean; though it is tempered along the coast and reaching extremes moving further inland with hotter summers and colder winters.
- One of the oldest states, Morocco has a continuous 1,200 year history as a single political entity. Moroccans are proud of their distinctiveness, of their historical empires that stretched across North Africa and into Spain. For much of their history Moroccans have had little say in running their country, controlled by omnipotent sultans. Popular opinion, however, was a great force in obtaining independence and through the Alaouite dynasty (continued by the current King Mohammed VI) a more democratic society has been created.
The Euro-Mediterranean Partnership is a wide framework of political, economic and social relations between the Member States of the European Union and Partners of the Southern Mediterranean. The Partnership currently comprises 35 members – 25 EU Member States and 10 Mediterranean Partners, including Morocco and is a unique and ambitious initiative laying the foundations of a regional relationship and when first established in 1995, representing a turning point in Euro-Mediterranean relations.
Moroccan-American Free Trade Agreement
King Mohammed VI and President Bush’s April 2002 announcement to pursue free trade with Morocco deepened their trade dialogue and sent a concrete signal to the Middle East about the benefits of economic and trade liberalisation. The U.S. Administration’s commitment to liberalised trade in the region supports the development of tolerant, open, prosperous societies.
Vision 2010
King Mohamed VI came to power in 1999. Educated in his home country and France, the King holds a doctorate in law with honours. Mohammed VI has a vision for his country – to create wealth and vastly improve the standard of living for the Moroccan people through the improvement of infrastructure and the creation of a huge tourism market. With these goals in mind, the national tourism strategy of Vision 2010 was borne. The key elements of Vision 2010 are to:
- Welcome 10 million tourists annually, by 2010
- Create 600,000 new jobs
- Increase hotel capacity by 160,000 beds
- Build new motorways and upgrade existing roads
- Build new regional airports and upgrade existing airports
- Increase and de-regulate incoming European flights, via an Open Skies policy
- Implement new marinas, ports and high-speed trains
- Investigate and look to implement the construction of a tunnel linking Spain and Morocco beneath the Straits of Gibraltar
- Implement the Plan Azur – an ambitious project to create and develop six new generation state-of-the-art coastal resorts
- Morocco is already making a name for itself as a new hotspot for the world’s property investors. Morocco’s luxurious new property developments are accepted to be of the highest standards and the very competitive prices mean that Morocco can boast top quality property in five star luxury resorts for a fraction of the price of property of far less calibre elsewhere. Morocco is widely tipped to become a new elite holiday destination and, in certain areas, a luxury playground to match the success of Marbella, Monaco and St Tropez.
The Royal Moroc Estates
- The design of The Royal Moroc Sports & Leisure Club reflects King Mohammed’s vision for his country as a first-class holiday destination. Situated on the Atlantic coast, this will truly be a five star resort designed to offer the total holiday experience in one spectacular location. The complex will include a luxury leisure club and spa, beach clubs and children’s facilities. For just about everyone there is a range of exclusive duty-free stores to go with a choice of superb international restaurants, representing international and traditional Moroccan fashion, leisure pursuits and cuisine.
- However, that is just the beginning. The world class sporting facilities add a whole world of possibilities for visitors to Royal Moroc. They are designed to meet the standards of professional athletes – giving tennis players, swimmers and sports teams the perfect environment to train or relax, particularly over the winter months:-
Tennis…the jewel in the crown of the sporting facilities will be a purpose built international tennis academy with over 30 courts.
Sports stadium (football, cricket, Gaelic football, athletics, rugby)…a focal point of the Royal Moroc Sports & Leisure Club will be an innovative all-seater stadium, providing international clubs, across a wide range of sporting disciplines, with the perfect training habitat. Further outdoor pitches are also available – while the stadium will provide a venue for national and international competitions.
Golf…a selection of 18-hole golf courses will offer a first class game to all golfers – and will enable the golf academy to hold the national and international competitions too.
An international marina…strategically placed to enhance the commercial opportunities and match the worlds-best inland marinas and meet the growing demands of international mariners.
Key Investment Facts
- Strategically planned property market, with realistic annual capital gains
- Property prices up to 50% less than other European resorts
- Statistical evidence of rental occupancy achieving 85% in peak season
- Open Skies policy signed in December 2005, allowing low-cost airlines to service Morocco and create competition, therefore lowering the cost of airfares
- Good transport links with the UK, including new routes for Ryan Air and EasyJet
- Excellent Mediterranean climate with 320 days sunshine each year
- Only three hours flying time from the UK and an increasing number of European airports establishing routes
- English, French and Spanish widely spoken, as well as traditional Arabic
- Familiar investment regime, with notary supervised registration, similar to France and Spain
- Double tax treaty between the UK and Morocco
- Capital gains tax of just 20% and nil from year ten
- Established system for repatriation of investment proceeds
- No annual property tax for the first five years
Morocco represents one of the very few emerging markets with the national and global vision and strategy to establish a world stage position over the medium to long term and is strongly recommended by the property advisors.