Cheapest locations per square metre include:

· Marrakech £1,265
· Muscat, Oman £1,670
· Sarasota, Florida £2,470
· St Nevis, Caribbean £2,575

Most expensive locations per square metre:
· Monaco £44,400
· Courchevel, France £17,765
· Paris £10,210
· Manhattan £9,720

Robert Shaw
Elite Morocco Properties
T: +44 (0) 208 529 3635
E: info@moroccoproperties.net
1: www.moroccoproperties.net
2: www.marrakech-property.net

Tourism is the biggest source of foreign currency for Morocco and despite the fact that global tourism contracted 4.3 percent last year and fell 6 percent in Europe (the origin of most of Morocco’s foreign visitors), Morocco has managed to keep visitor numbers growing by 6.5 percent.

“Achieving 94 percent of our (2010) goal, bearing in mind that we just went through one of the biggest global crises in a century, is a very satisfying result,” Tourism Minister Yassir Znagui told reporters late on Monday. Znagui said the number of visitors rebounded by 16 percent in the first three months of 2010 to 1.72 million, night stays grew by 7 percent to 3.7 million and tourism income grew by 12 percent to 10.2 billion Dirhams (about 900 million Euros).

In addition, he said, the strategy worked out by his department would no longer limit itself to traditional markets, particularly France and Spain, but it would target other countries from Eastern Europe and the Middle East.

Znagui said despite the global downturn, Morocco “was the only country from the Mediterranean basin to see a 6% increase in 2009 arrivals. According to statistics from the Moroccan ministry of Tourism, the French are on top with 3.1 million tourists (+4%), followed by Spanish (1.8 millions, +10%), Belgians (469,000 tourists, +12%), Dutch (443,000 tourists, +12%), Germans (423,000 tourists, +1%), British (362,000 tourists, -7%) and Italians (318,000 tourists, +11%).

Morocco Central Bank Says Housing Market Not Stagnating

Morocco’s property market is likely to pick up in coming months, the central bank told Reuters, playing down fears of prolonged correction that could hold back economic growth in the north African country.

The price slowdown “has been quite brief and (the market) should very probably continue to resume its dynamism in the coming quarters,” the central bank, known as Bank Al Maghrib, said in emailed replies, received on Wednesday, to questions from Reuters.

It said prices have begun rising again and the sector should “continue to present important investment opportunities given that most analyses suggest that demand significantly exceeds supply, especially in social and mid-income housing.”

A Moroccan construction boom continued during the global economic downturn, helping prop up the economy even as local exporters faced slumping demand from recession-hit Europe. Most of the building activity is in real estate after banking reforms gave middle-income families easier access to mortgages and thousands of apartment blocks sprang up to replace slums in the kingdom’s teeming northern cities.

Housing growth has also underpinned the Casablanca stock market as local investors poured money into local real estate companies such as Addoha, which now accounts for over 10 percent of the bourse’s capitalisation, according to traders.

Property prices have corrected and sales have slowed since late 2008 however local analysts have voiced concern that Morocco may have been experiencing a property bubble. But the bank rejected that, saying that a 7 percent rise in property prices between the first quarter of 2006 and the third quarter of 2008 “is below that seen at the international level in the same period.” The rise over that period “in no way reflects an overheating of the property market,” the bank said. “It is explained, in our view, by a catch-up effect.”

CUT MORE BAD DEBT

Strong lending growth that has underpinned real estate projects in recent years continued in January, with mortgage lending still up 13 percent compared to a year earlier, according to central bank figures. More Moroccans have been encouraged to open bank accounts and borrow as the banking network grew to reach more of the 34 million population.

Banks have been able to lend at lower rates and remain profitable because their bad debts have tumbled to around 5.5 percent, from a high of 19 percent in 2004 that was a hangover from risky lending in the 1990s. Moroccan banks should continue to “further lower their levels of bad debts and reinforce their equity base,” the central bank said.

Analysts have suggested that Moroccan banks are still too weak to finance some major projects in the local economy. Asked if more mergers were needed among Moroccan lenders, the central bank said the sector was “characterised by a relatively high concentration of actors, the top three banks controlling 66 percent of the market”.

“This concentration and consolidation of financial resources allowed the reinforcement of banks’ capacity to finance the economy and the emergence of important financial groups that adopted strategies to deploy on the continent and in Europe.”

Robert Shaw
Elite Morocco Properties
T: +44 (0) 208 529 3635
E: info@moroccoproperties.net
1: www.moroccoproperties.net
2: www.marrakech-property.net

“Countries with diversified economies, such as Morocco, have better resisted (the global financial crisis) and could have a strong rate of growth,” Strauss-Kahn said in an interview published on Wednesday by the Egyptian newspaper Al Ahram Hebdo.

“Morocco is a very good example. This country has successfully overcome the crisis. It will have a strong growth,” he said.

Strauss-Kahn added that among the problems in some African countries and other parts of the world is “having an economy insufficiently diversified or completely energy-based.”

Here in Morocco, government officials are confident that their efforts to create a new means of economic progress with alternative energy has shown that the costs of doing show are well worth it.

According to Yussif Said, a technology advisor to the government in Rabat, “we are moving forward on a number of local reforms and have given attention to the IT sector because we understand that through the Internet and our citizens, success will be had.”

He pointed how the IT sector has thrown its weight behind the massive $9 billion solar energy project that could see half of the country’s energy come from solar power by 2025.

“The IT firms are behind this initiative and show that we don’t have to focus on one sector over another,” he added.

The IMF boss said that “overall, Africa has overcome the crisis better than expected. Now we notice in most countries a return to growth.”

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 News. On 12 November 2009, San Diego welcomed the various contestants for the International Property Awards. This major event rewards the year’s best real estate projects, which are broken down into categories.

Crowned “Best Golf Development” in the Arabia zone on 25th October in Dubai, Marrakech’s Samanah Country Club has now achieved international acclaim by winning the “2009 International Property Award” in its category.

The Samanah Country Club is a tourist community located near Marrakech, built around an 18-hole golf course designed by the reputed American firm Nicklaus Design. Once complete, the resort will boast 3 hotels, 450 luxury villas spread along the course, apartments and houses clustered around a residential hub, a square with 18 shops, a spa and much more.

The architecture and layout of this 300-hectare complex are the work of Alain Lelieur and Abdel Ilah Slimani, who drew inspiration from Morocco’s traditional earthen architecture. They have scattered the resort’s houses around the golf course maximising views of the Atlas at all times.

The golf course, which has been open since April 2009, will inaugurate its outstanding Club House on 5th December 2009. From 6th to 11th December, Samanah Country Club will be hosting its first major international tournament: the Samanah Masters, the promoter of which is none other than the Hassan II Trophy Association.

The Samanah Country Club is the first project set up in Morocco by the French property Groupe Alain Crenn, developed as part of an investment contract with the Moroccan State. A joint stock company with capital of 10,000,000 euros and whose head office is located in Paris, France, the group is directed by Richard Hennessy and it’s administration council chaired by founder Alain Crenn. Its capital is held to a total value of 50% by the Hennessy holding, 35% by Alain Crenn and 15% by certain executives of the group. The consolidated business volume of the group reached 201 million euros in 2008.

The group boasts a varied range of luxury products, selected and designed with the objective of securing investments over the long term. The quality of the site, of its construction and management are all key to the company’s objectives.

THE SAMANAH COUNTRY CLUB INVESTMENT PROGRAMME:

1ST INSTALMENT:
· A 5-star hotel with 152 rooms and suites: 440 beds
· A golf course and practice course: 18 holes
· A village square: 17 shops
· 168 villas
· 108 semi-detached villas
· A 5-star hotel with 62 suites: 246 beds

2ND INSTALMENT:
· 186 villas
· A 5-star hotel: 400 beds

3RD INSTALMENT:
· 131 villas

In total, all the buildings, limited to two levels only occupy 5% of the total surface area (i.e. 240,000 m² for 300 hectares).

THE SAMANAH COUNTRY CLUB IN FIGURES:

· Land surface area: 300 hectares
· Duration of construction work: 5 years
· Jobs immediately created: 1,500 workers on site plus indirect jobs (companies and craftsmen called upon for building, decoration and fitting out)
· Jobs created on completion: more than 500 stable and direct jobs

CRITERIA USED TO CREATE THE SAMANAH COUNTRY CLUB:

· Respect the culture via architecture that combines traditional and modern styles.
· Train the young Moroccan staff in tourism, languages and customs of the different customers.
· Involve the local population. The Group works in close cooperation with the craftsmen and suppliers from the town of Tamsloth and different regions of Morocco.
· Protect plant species thanks to the creation of a 7-hectare plant nursery that hosts the plants present on the site beforehand and where new plantations grow and acclimatise before being used for gardens and communal areas.
· Implement the necessary means to ensure safety and well-being for all.
· Create the facilities required to recycle waste-water and save on energy.

SAMANAH GOLF CLUB, THE FIRST GOLF COURSE SIGNED BY NICKLAUS DESIGN© IN MOROCCO:

Spread over 100 hectares, the USGA-compliant Samanah golf course is the first Moroccan golf course designed by Nicklaus Design©. Combining technical proficiency, playability and beauty, the Samanah Golf Course lets players take part in their favourite sport either for competition or simply to relax.

The 18 holes are complete today, and the calibration, carried out by two international referees – Marc Chmielewski and Alain Rathery – revealed a very high level of course. Since the pre-inauguration last October 2009, the feedback regarding the course is hugely positive with the first players, amateurs and professionals alike, noting their complete satisfaction and astonishment at the quality of such a young course.

At least 63 Nicklaus Signature courses have been ranked in national or international Top-100 lists by major industry publications like Golf Digest, Golf Week and GOLF Magazine, and no fewer than 88 Nicklaus Signature courses have hosted a total of over 600 professional golf tournaments worldwide including events on the PGA Tour, the Champions Tour, the LPGA Tour and the Nationwide Tour, among others.

The course will be completely private and strictly limited to property owners & their guests/tenants and guests in the hotel (the latter limited to a 2 hour daily window). Golf membership can only be purchased with a property and will run for the lifetime of the property (can be inherited). Therefore this will also be an asset.

DAVID LEADBETTER ACADEMY:

The Samanah golf Club practice range has a David Leadbetter Golf Academy© that offers training and lessons for golfers of all levels. The David Leadbetter Golf Academy© is renowned worldwide for the effectiveness of its training courses and clinics. The Academy’s success is based on innovative teaching methods, a technical know-how gleaned from the elite as well as high-tech methods using the latest educational tools. In addition to training courses, the Golf Academy offers private lessons with professionals, as well as exclusive customised programmes.

CLUB HOUSE:

The Samanah Club House has a surface area of 2,000 m2. Its exterior architecture is inspired by the city walls of Marrakech and is enhanced with basins and fountains. It also includes a golfer’s bar, a TV lounge, a restaurant, a cards lounge, men and women’s changing rooms with high quality services, a pro shop and caddie master.

Robert Shaw
Elite Morocco Properties
T: +44 (0) 208 529 3635
E: info@moroccoproperties.net
1: www.moroccoproperties.net
2: www.marrakech-property.net

The Jumeirah Group, a Dubai-based luxury hospitality company has also just committed to manage the Jumeirah Marrakech Golf & Polo Resort in Marrakech. This community will be located 7km south of Marrakech and will boast wonderful views of the Atlas Mountains. It will be launched in 3 phases from January 2013 and will include a 5 star deluxe golf hotel; an 18 hole golf course, complete with clubhouse and academy; a five star polo hotel with two polo fields and one practice course; a third five star hotel, spa, souk and residential villas.

Robert Shaw
Elite Morocco Properties
T: +44 (0) 208 529 3635
E: info@moroccoproperties.net
1: www.moroccoproperties.net
2: www.marrakech-property.net

“In the context of the 2009 Article IV consultation discussions, the mission reviewed recent economic developments and the authorities’ strategy for mitigating the impact of the global crisis on Morocco, and discussed policies to boost economic growth, income, and employment. The mission met with ministers, senior government officials, the Central Bank Governor, as well as with representatives from the private sector and labour unions. Despite the world economic slowdown, Morocco’s economic performance has remained solid. Real GDP growth was 5.6 percent in 2008, and is expected to be around 5 percent in 2009, sustained by strong domestic demand and exceptional agricultural production. Consumer price inflation will drop to less than 2 percent in 2009, reflecting, among other factors, the decline in world commodities price. The current account deficit is expected to improve, assuming that the recent signs of a rebound continue in the last part of the year.

Fiscal policy will appropriately loosen in 2009 and 2010, reflecting in good part the authorities’ counter-cyclical measures. Over the medium term, fiscal policy should aim to gradually bring the budget deficit below 3 percent of GDP, without jeopardizing the economic rebound.

Important reforms in the public finance area are ongoing, including tax reforms, and efforts to gradually replace the current system of subsidies by targeted measures to assist the low-income segments of the population. The central bank has responded appropriately to the evolving economic and financial conditions through its interest rate policy and liquidity management tools. The mission notes that the central bank has the necessary tools, resources, and analytical framework in place should monetary policy evolve to an inflation targeting framework.

The banking sector remains solid, and has largely been untouched by developments in international financial markets. Given the rapid credit growth in recent years, the Central Bank continues to pay close attention to credit quality.

Strong and sustained economic growth in Morocco will depend on reforms aimed at increasing the productivity and competitiveness of the economy, and boosting Morocco’s ability to compete on external markets. To these ends, the authorities are undertaking a wide range of reforms, including in the sectors of justice, agriculture, energy, property and education. Success in these efforts will raise investment and output, and help address key social challenges, including youth unemployment.”

Robert Shaw
Elite Morocco Properties
T: +44 (0) 208 529 3635
E: info@moroccoproperties.net
1: www.moroccoproperties.net
2: www.marrakech-property.net

Property In Morocco, Mediterrania Saidia For Sale. The King of Morocco, Mohammed VI recently inaugurated the prestigious Mediterrania Saidia community, the most exclusive new coastal development in Morocco, and the ‘Cote d’Azur’ of this region with 5 star facilities front line to the best beaches in Morocco.

The event launched the 2nd part of the enormous marina with capacity to host 1350 boats, El Palmeral golf course, an 18 hole championship course to be managed by Troon Golf, the Medina Saidia, a 40-hectare shopping area built just like the traditional Moroccan medina in Marrakech and two beach front hotels: the Barcelo and the Iberostar.

There is a film showing the Mediterrania Saidia development on You Tube – to access click here.

Mediterrania Saidia is the first and only government-backed project on the Mediterranean coast of Morocco and this Government funding means a very low risk, very important in today’s market. Prices are a fraction of other established luxury marina reference points in the region like Puerte Banus, Vilamoura and the Cote d’Azur

The new community is close to Oujda airport and direct flights from the UK will be available once the hotel bookings start flooding in. To give you an idea, there will be over 20 global hotel groups working in Saidia including the Riu, Barcelo, Globalia, Iberstar, Radisson, Best Western, Golden Tulip, World Hotels to name but a few.

Special tax rules granted by the government add to the excellent investment credentials of Saidia and strict planning rules limit development to the absolute minimum. The Mediterrania Saidia resort covers 7,000,000 m2 and will have a capacity of 30,000 beds, and generate 8,000 direct jobs and 40,000 indirect ones by 2013. Very low-density build enhances the 5 star luxury environment. Up to now, 33% of the accommodation capacity has been achieved, and 1,700 direct and 8,500 indirect jobs have been created.

For you entertainment, service and safety there are:

* 6 kilometres of beach with 17 exclusive beach clubs
* 3 designer golf courses – one championship standard
* Commercial areas including the large Moroccan Souk
* Top international brands, bars, restaurants, and shopping centre
* Spa, fitness clubs, water parks and a medical centre
* Comprehensive 5 star sports facilities including David Lloyd tennis club
* Football stadium, indoor and outdoor public pools including one Olympic size
* 1,000-seat business auditorium and exhibition centre
* Diving, sailing centre and yacht club
* Medical centre and heliport
* Water park

The 1.5 billion dollar Saidia community is part of the Moroccan Government’s “Plan Azur” programme that aims to create new tourist destinations and increase the GDP contribution of Moroccan tourism to 20% by 2010. This will be achieved with the development of coastal resorts amongst other key initiatives. Saidia is considered the most important of the Plan Azur projects, as it is the largest and first to be launched.

Posted by Robert Shaw, Marketing Manager, Elite Morocco Properties. +44(0)2085293635. Visit The Morocco Property Specialists Today at http://www.moroccoproperties.net/ For Moroccan Villas, Riads & Apartments.

WORLDHOTELS is an exclusive collection of the world’s most unique independent hotels and resorts now with almost 500 affiliate properties in more than 300 destinations and 70 countries worldwide.

Several developers are building property for the Moroccan Government in Saidia. Le Jardin de Fleur is being built by an award winning company who are developing 11 luxury communities (www.lejardindefleur.com).

Jardin de Fleur property owners will benefit from being part of the fantastic Saidia community (the 1st, largest and most prestigious tourism project built by the Moroccan government) and will also have exclusive access to all the lavish facilities on the 11 private Jardin de Fleur sites.

Jardin de Fleur have sold over 1,000 off plan properties on Saidia and many of these will be delivered in 2010/11. This is a real benefit to owners as the majority of Saidia will be completed by then. All properties are located close to the beach / golf courses and have a number of luxury services available in the community such as specialist restaurants, indoor and outdoor pools, spa facilities, tennis, amphitheatres etc.

Price includes everything: VAT (20%), pool (private or communal), designer kitchen, highest quality furniture, fixtures, fittings, air-con unit (hot and cold), designer bathroom, white goods, landscaping and a corporate / government guarantee.

Jardin de Fleur have announced Radisson Hotels (www.radisson.com), Best Western (www.bestwestern.com), Golden Tulip (www.goldentulip.com), Hivernage Hotels (www.hivernage-hotel.com) and World Hotels (www.worldhotels.com) amongst others as major tour operators to sign contracts to manage the communities. This announcement brings some spectacular names to the resort of Saidia and gives property owners the option of an optional 9 year lease back arrangement with a global tour operator (extendible).

Another major benefit to Jardin de Fleur owners is that community charges will be shared amongst all 11 sites. This means that the monthly maintenance charges will be lower for everyone and are expected to be around 100 Euros per month. This will cover all communal maintenance and is excellent value for money considering all the fantastic on site luxury facilities.

Robert Shaw
Elite Morocco Properties
T: +44 (0) 208 529 3635
E: info@moroccoproperties.net
1: www.moroccoproperties.net
2: www.marrakech-property.net