Published on 25 March 2006 at 01:39 pm
Filed in Property News for Morocco » Good News for Owners of Investment Property in Morocco
This month there are plenty of reasons to be cheerful for those who already own investment property in Morocco – and plenty of reasons to consider Morocco if you’re still looking around for an emerging real estate market with masses of profit potential!
Firstly EasyJet have announced that they will be flying daily to Marrakech from London from this summer and secondly an American based real estate development company have announced that they are about to invest USD 1.1 billion in Morocco as part of the Moroccan government’s impressive 2010 plans to boost tourism numbers annually to 10 million.
Morocco is already an exciting emerging market offering property investors the chance to buy well priced real estate in a location that is becoming increasingly popular with international tourists. The announcement by EasyJet simply means that from the summer of 2006 Morocco will become more accessible and more affordable which will likely result in more tourism demand for properties to rent, more demand for second homes and more demand from property investors keen to tap into the realized potential available in Morocco.
The EasyJet flights will take about three and a half hours and the company’s commitment to Morocco could lead to more no frills airlines considering the route and further opening up the Moroccan market to travellers, second and retirement home seekers as well as investors.
The Moroccan government has welcomed EasyJet’s plans as they are directly in line with the government’s plans to massively boost the tourism potential in Morocco. They have a very definite plan to improve and promote their country to boost tourism numbers by 4 million to reach an annual figure of 10 million visitors by 2010.
As part of their efforts to improve the country’s image and desirability they have announced five mega-projects for the development of parts of the country into dedicated tourism resorts, the first of these mega projects was awarded this week to US based Colony Capital. The American property development and investment company has announced that the mega project will see them invest 1.1 billion US dollars into Morocco over the next ten years to create a luxury holiday resort on the Atlantic Coast near Taghazout (pictured). Colony Capital’s resort will include 16,000 hotel beds, golf courses and entertainment complexes and will be only the first of five impressive resorts to be developed and constructed in Morocco.
These two exciting pieces of news will likely result in property investors flooding the real estate market in Morocco with interest, and those who have already made a commitment to investment property in Morocco will be smiling quite contentedly safe in the knowledge that they got in first!
