Nowadays, Morocco is becoming a distinctive place for property investors with opportunities offered for early purchasing of properties at prices more favourable than in other locations. Addoha, the leading developer of real estate of the country, has obtained two Moroccan units from Fadesa, a failed Spanish real estate developer, and is finishing its projects on time. It is also turning projects into low-cost housing, a change that is considered the way forward in the present economic situation, as luxury property sales decline. Through the huge public infrastructure projects, falling income taxes, rising public sector wages, and a promising start to the farming season, Morocco is properly placed to withstand an international depression.
Acquiring the units from Fadesa expecting sales of 24,000 housing units throughout the next 18 months, will have secured profitability for the company. These projects constitute an extensive investment. The Chairman of Addoha, Anas Sefrioui, further stated that developers would benefit in 2009 from progress in government-backed drive and consumer mortgage lending to slum areas with affordable apartments. He claimed that the sales of tourist residences would definitely slow in 2009, but commented that the area represented merely 7% of Addoha’s sales, and that the projects were geared for Moroccan and international buyers.
Morocco preserves a historic and exotic charm, with a warm, healthy climate, and a delightful landscape. Its traditional architecture, markets, and palaces boast of splendid gardens. Today, Essential Morocco and Essential Worldwide continue to provide excellent investment real estate opportunities in Morocco.