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EU to Develop Ties with Morocco

Select — Wed, 23 Jan 2008 15:22:00 +0000

The EU External Relations Commissioner said on Tuesday that the European Union wants to push ties with Morocco to a higher level within a year, rewarding Rabat for progress in opening markets and pressing economic and social reforms.

"There's a progressively deeper integration of Morocco in the Euro-Mediterranean space, bringing it closer to the European Union," Commissioner Benita Ferrero-Waldner said. Over the coming year Morocco’s ‘Advanced Status’ will be defined and in theory it could take part in border security agency Frontex, EU justice arm Eurojust, policing body Europol and other agencies, she said.

"All this should be settled by next January," Ferrero-Waldner told reporters in the Moroccan capital Rabat.

The EU has practically ruled out full EU membership for them but awards individual countries with varying degrees of aid and market access according to their progress in reforms, social development and human rights.

Morocco Property News

EU to Develop Ties with Morocco Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Expat Network to Boost Investment in Morocco

Select — Wed, 02 Jan 2008 12:03:00 +0000

During the fifth “Fundamentals of Investment” conference in Skhirat a new international business network of expatriate Moroccans was established. Attending the event were 1500 political, business and academic figures from all over the world with the aim of identifying ways to make the economy in Morocco more attractive to investors in Morocco .

The network is made up of 23 founding members, which is aimed at getting overseas Moroccans involved in the economic development of their country of origin, raising the awareness of foreign investors of the current situation in Morocco and attracting large scale projects.

The new network members will act as business ambassadors and as sources of information on how Morocco is perceived by the international business community. Participants represent several sectors of activity and live in a number of countries including Europe, the Americas and Asia. Sectors include, commerce, technology, finance, communications, community-based initiatives and universities.

Morocco Property News

Expat Network to Boost Investment in Morocco Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Qudra wants Gulf developers to Invest in large scale projects in Morocco

Select — Thu, 22 Nov 2007 17:10:00 +0000

Abu Dhabi based Al-Qudra Holding wants Gulf developers and investors to join up to build “giant tourism complexes” in Morocco, its chairman said. At a Rabat conference attended by investors mainly from Saudi Arabia, Qatar and United Arab Emirates Salah al-Shamsi said "Investment opportunities exist in Morocco and investors are called on to benefit from these opportunities."

"I call on investors from the region to join forces and cooperate to invest in giant tourism complexes in Morocco to take the most benefit and advantage of the opportunities in Morocco," he said in an interview with Reuters.

According to official data the French and Spanish are the biggest investors in tourism and other sectors in Morocco. Morocco aims to attract 10 million tourists by 2010 from about 6.5 million currently and is looking for foreign investment to build hotels and other leisure facilities needed to accommodate the rising numbers.

Morocco wants more foreign investment to stimulate economic growth and create jobs in the country of 30 million people, where around 1 million are registered unemployed.

Morocco Property News

Qudra wants Gulf developers to Invest in large scale projects in Morocco Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Investors Choose Morocco for Overseas Property

Select — Mon, 12 Nov 2007 15:46:00 +0000

Early investors in Morocco’s property market are seeing the value of their homes continuing to rise steadily. First-time buyers – some of whom are unable to afford a property in the UK – are among those feeling the benefit of getting in early, with the value of their investments increasing.

Comparable properties in Southern Spain are substantially higher than those in Morocco.

Enquiry levels have been boosted by the availability of low cost direct flights to Morocco from EasyJet and Ryanair. In contrast to the resorts taking shape on the coast, new developments in the Marrakech area are attracting buyers at the top end of the market, seeking exclusivity on smaller luxury developments.

Whilst the highest amount of those that invest in Morocco remains British, there has been an increase in other European countries investing, including Spain, Germany, Belgium, Norway and Sweden.

Morocco Property News

Investors Choose Morocco for Overseas Property Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555

Marrakech Offers the Investment Opportunity of Early Dubai

Select — Mon, 22 Oct 2007 11:42:51 +0000

According to overseas property investment specialist Select Property, Marrakech, Morocco, looks set to be the next big investment hotspot. The company is offering traditional apartments and riads from £63,227, and estimating 141% return on investment by completion in April 2009. These projections support the company’s claim that Marrakech is set to become the next Dubai, where comparable properties which sold for £60,000 in Dubai 4 years ago are now worth in excess of £140,000.

The development, Atlas Golf Resort, is situated on an 18-hole golf course and comprises 1, 2 and 3 bedroom apartments (starting £63,227), each with their own private garden or terrace. Authentic 2, 3 and 4 bedroom riads are available from £200,927. Atlas Golf includes a 4 star Marriott hotel, 4 star and 5 star hotels, clubhouse, restaurants, shops and swimming pools. The golf course will be one of 10 in Marrakech operating by 2010, another driver boosting rental potential and property prices.

According to Managing Director of Select Property, Mark Stott, ‘‘Atlas Golf Resort, and Morocco as a whole, have all the elements required of a strong investment opportunity with many similarities to early Dubai. Both leaders share a vision for the prosperity of their nations, low land prices and labour costs, as well as the government’s determination to bring in international investment means that property investors can buy real estate now at prices far lower than they encounter in any established European market.

“In addition, the tax situation is favourable. Capital gains tax is low and runs between 0% and 20%, inheritance tax in Morocco is 0% when assets are transferred to another family member and there are no annual property taxes to pay for the first 5 years that you own real estate in Morocco making it a tax attractive country in which to invest”.

Marrakech Offers the Investment Opportunity of Early Dubai Selectproperty.com Office 803 - Concord Tower, Tecom, Dubai Media City United Arab Emirates Dubai Office: +971 4 446 2756 UAE fax: 971 4 440 4849 UK Office: +44(0) 161 488 3555