News For People Buying A Property In Morocco.
Morocco has a lot to offer tourists; from a wide array of outdoor pursuits, distinct culture, history and food to some of the best beaches and most luxurious hotels money can buy, it really has something for everyone. For the more adventurous traveller, there are ample opportunities to immerse yourself in local tradition with welcoming local communities that can provide an unforgettable experience. Here are some examples to get you started. (more…)
Economy: Despite the global economic malaise, Moroccan GDP rose by 6.5% in 2008, compared with 2.7% in 2007 and 7.8% in 2006. The economy is predicted to grow by an average of 5.5% per annum from 2009 – 2013. Banks were very conservative during the global boom years and did not speculate in sub prime and now the Telecoms, Agriculture, Manufacturing, Mining and Services industries are growing fast. Real estate is also a major growth industry and the investment over the last 5 years from many of the worlds leading developers (Emaar, Quatari Diar etc etc.) is also having a positive impact in Morocco. (more…)
Asian carmakers are in talks with the Moroccan government to set up plants with a capacity that could exceed 200,000 cars a year, a local car industry group said on Tuesday.
French carmaker Renault is already planning a plant on that scale, and Adil Bennani, the chairman of Givet, which groups importers of cars and other vehicles from outside the European Union, said the Asian makers could equal or top that. (more…)
The African Development Bank announced Friday that it would help improve the operational efficiency of airports across Morocco with a loan of 240 million euro. In a statement, the Tunis-based bank said this project involved upgrading facilities at the Casablanca, Fez, Agadir, Marrakech and Rabat airports, which handle the bulk of air traffic to and from Morocco and also extensions to Oujda and Tangier airports which are expecting greatly increased arrival numbers in the coming few years. The project is estimated at about 320.03 million euro. The bank loan will cover the foreign currency cost of the project, representing 75 percent of the total cost, it said.
Robert Shaw
Elite Morocco Properties
T: +44 (0) 208 529 3635
E: info@moroccoproperties.net
1: www.moroccoproperties.net
2: www.marrakech-property.net
Moroccan Property and real estate news
The gently rolling hills planted thick with vineyards are an unlikely sight for a Muslim country partly set in the deserts and palms of North Africa. Yet the grapes, and the wine they produce, are thriving in Morocco despite Islam’s ban on alcohol consumption.
Morocco has become one of the largest winemakers in the Muslim world, with the equivalent of 35 million bottles produced last year. Wine brings the state millions in sales tax, even though Islam appears to be on the rise politically.
“Morocco is a country of tolerance,” said Mehdi Bouchaara, the deputy general manager at the Celliers de Meknes, the country’s largest winemaker, which bottles over 85 percent of national output. “It’s everybody’s personal choice whether to drink or not.” (more…)
Moroccan real estate and property News
If the international financial crisis remains at its present level, combined with good agricultural season, Morocco’s 2009 economic growth should stand at 5.2%, said the Centre Marocain de Conjoncture (CMC) in its latest publication, dedicated to the world’s financial challenges. Analysing the Moroccan economic situation, the Centre’s letter underlined, however, that if the crisis deteriorates, this year’s growth would not exceed 4.8%, to fall to 4% in 2010. The French-language publication stressed that Morocco’s financial sector has not been directly affected by this crisis - ”At the beginning, many questions concerning the Moroccan financial sector were raised, but objective data released later showed that the national financial system will not be affected, directly, by the crisis,” it pointed out. As to the real estate sector, the CMC’s document stressed that this sector actually grew by 9.4% in the last quarter of 2008 lead by strong internal demand.
Robert Shaw
Elite Morocco Properties
T: +44 (0) 208 529 3635
E: info@moroccoproperties.net
1: www.moroccoproperties.net
2: www.marrakech-property.net