Mediterranea Saidia
While intensive construction work continues to create a masterpiece at Mediterranea Saidia, Morocco’s new luxury Mediterranean resort, investors are beginning to realize the sheer scale and impact this ambitious government-backed project is to have in the international property arena. Mediterranea Saidia aims to be an entirely self-sufficient five star holiday resort, with all the beach, sports and leisure facilities of any self-respecting up-market resort of the 21st century.
If you visit Mediterranea Saidia today, an extensive building site awaits you, while cranes crunch away at the earth and blocks are going up fast. Progress is indeed well underway and, if the new Championship Golf Course and Club House now nearing completion are anything to go by, it is clear the constructors have their priorities right, while two more professionally endorsed courses have already been started. Floating pontoons wait in anticipation in the new marina area and the restaurants and Moroccan Medina are all well underway. The resort includes several new 4 and 5 star hotels, including such names as Sofitel, Sol Melia, Barceló, Golden Tulip and Iberostar and these further reflect the prestige the resort is set to enjoy from up-market tourism in the near future.
Mediterranea Saidia will be set within beautiful landscaped gardens, which are being planted as we speak, while the entire development is surrounded by a bird reserve with marshes, woodlands and breathtaking white sandy beaches. The resort is strictly low density while the government has enforced a ban on further construction for the next 15 years, thereby ensuring sheer peace and exclusivity, at least for the foreseeable future.
Building Progress
Within the first phase, projects such as Magnum, AP6, AP4, AP2 and V2 have reached either roof level or further. Jardin de Fleur will have their show flat open and ready to view in approximately six weeks time on the RT2 plot. The recent release of this plot, named Le Jardin de Fleur-sur-Mer, has attracted much interest and blocks 4 and 5 are firm favourites as they offer frontline golf and sea views, a mere 300 metres from the beach.
Already, many investors have seen impressive growth since their initial deposit payments. Jardin de Fleur has now released 5 of their eleven plots with 2 more to be released within the next three to five weeks. Investors are now urged to watch out for these two new projects which we have been told are going to feature an Aparthotel on plot RT6 and a combination of 110 villas and townhouses on VVT6.
Current Growth
A two bedroom apartment on the original Jardin de Fleur Beach and Golf Apartments which sold at launch stage for approximately £102,000 would now fetch £118,000 meaning a staggering 16% growth in approximately 8 months whilst the 3 bedroom penthouses which sold upon release at £175,000 are now selling for £247,000.
This kind of capital growth is not purely limited to Le Jardin de Fleur as we have seen the similar returns from Fadesa and Oasis Beach and Golf properties. Oasis Beach and Golf Resort is due to start construction in two months and they have also secured one of the commercial units in the main shopping centre to be used as a head office for their Morocco division. This office is also to be an on-site rentals and re-sales centre which is great news to investors.
The Investment Arena
From an investment point of view, it is easy to see the master plan already under way in Morocco. King Mohammed’s Vision 2010 plan intends to dramatically increase tourist numbers from 2 million to ten million by the year 2010. Mediterranea Saidia, along with five other of the King’s resort developments, forms an integral part of this plan. With many luxury beach front hotels drawing a steady flow of well-heeled tourists to the resort – it is estimated some 30,000 guests will be accommodated in peak season - this ready foot-flow will undoubtedly attract interest and publicity for property purchases here. Meanwhile, with a large supply of contented tourists in the resort, property purchasers will be capitalizing on a healthy buy-to-let market to support their investments.
Propertyshowrooms.com International Sales Manager, Andy Welland reminds us; “The secret, as in any emerging market, is to get in as soon as possible whilst the market is in its infancy. As the first of the King’s resorts to be built in Morocco, Mediterranea Saidia is the start of the Moroccan property bubble.” With numerous other prestigious resorts planned throughout Morocco over the coming months, Andy continues, “By the time the other major resorts such as Port Lixus, Mazagan, Mogador, Taghazout, Plage Blanche and not to forget the 5 Emaar developments are finally built along the Atlantic coast, Saidia will already have become well-established and fashionable and prices will reflect this”. He stresses the importance, however of being patient for the right opportunity to come up with the professional developers, but he is convinced that now, or within months from now, the best opportunities with major developers are ready for the taking.
The importance of purchasing the better units, for a slightly higher price is always a factor not to be overlooked. The well located units with the best views will sell more easily and become better investments, while penthouses always remain a firm favourite.
Finally, Andy Welland says, “It is important to remember that the whole reason there is a booming market in Morocco is purely down to Plan Azur Vision 2010, we are talking about tourism in Morocco as your market, therefore in my opinion the better investments will be made in the major resorts and I would select from the smaller stand alone projects very carefully. The potential growth in the tourist economy of Morocco as an emerging market is something which cannot be overlooked. The strategic development plans the government is implementing can only mean dramatic price rises for the near future”. By the time 2010 arrives, 10 million tourists are set to arrive in Morocco on budget airlines, boosting the tourist economy and offering excellent capital returns for those investors who act now.
For more information regarding property investment in Morocco, please visit Propertyshowrooms.com Alternatively contact 0034 952 198 657 (UK Freephone : 0800 047 0597)