Morocco-Investment Environment

Since 1999, Morocco has been ruled by King Mohammed VI, and this young and forward thinking monarch has in less than 10 years transformed the appearance of Morocco, and has caught the attention and altered the perception of country leaders all around the globe. Taking a leaf from the book of Dubai’s rulers, King Mohammed has created a very appealing investment opportunity for the Western world by the designation of EU Free Trade Zones, and the provision of an infrastructure plan for residential tourism that is the envy of many European countries.
Sheikh Mohammed bin Rashid Al Maktoum of Dubai focused his plan for growth on free trade zones, ports and airports, tourism, retail, and real estate.
With such unquestionable success, with the incorporation of identical criteria for Morocco, and with such close collaboration between the two young like minded rulers,Morocco is already well on course to be the next economic success story.
Dubai became a world financial, trade and distribution hub.
Morocco, under the rule of King Mohammed VI, is perfectly positioned to exactly mirror that success.

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Recent surveys-the average house price in Cape Verde or Morocco.

Recent surveys suggest that the majority of first-time buyers think that the property market is showing signs of bottoming out and that now is a good time to buy property.

The survey found that first time buyers are optimistic at the prospect that they will now be able to afford a home.

Around 57% of people hoping to get on to the property ladder said they thought house prices would either stay the same or increase during the coming 12 months, while 69% think it is currently a good time to buy.

One in five first-time buyers even said they thought it would be more difficult to buy their first home in a year’s time.

First time buyers see the current market as a window of opportunity for people with a substantial deposit. Many of which also appreciate that the overseas property market now offers true investment potential.

This combined with low interest rates and higher than average rental yields are attracting the next generation of investor to markets such as Cape Verde and Morocco.

The average first-time buyer on average has £31,650 saved for a deposit, the equivalent of around 20% of the average house price in Cape Verde or Morocco.

For such a purchase the lenders require a 30% deposit in order for borrowers to qualify for their best deals, curent euribor rate is 3% (Euro Interbank Offered Rate).

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A Sound Climate for Investing in Morocco-Emerging Economy of the Mediterranean

A new English language guide has been published on the economy of Morocco, entitled “Morocco: Emerging Economy of the Mediterranean”. This is the first time that a guide has been released in English, aimed at providing further information for investors looking to put money into Morocco. The document, published in London on 18th June, provides information on Moroccan law and details of the incentives available for foreign investors. At 318 pages, the guide provides an in depth analysis of many of the large scale Vision 2010 projects which have been undertaken by King Mohammed VI, in addition to a breakdown of the detailed information on each economic sector and current reforms.
The document highlights the main advantages of investing in Morocco and points out that the forecast of 5.5% growth for 2009 indicates a sound climate for investing in Morocco.

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Circle Oil discover gas in North East Morocco

Recent exploration and prospecting for oil and gas in the area north east of Rabat, in the Rharb basis has resulted in the successful drilling of an exploration well by the oil and gas development company, Circle Oil.
The well has been drilled and successfully tested and a press release from the company on 3rd June 2009, states that they are able to achieve a sustained rate of gas acquisition of 3.9 million cubic feet a day. This is part of a 6 well programme which is allowed under the Sebou permit.

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Some more news on Salama Valley Fez-Rental Management

Rental Management
• In EVERY instance, the 9 year rental management contract is built into the contract
• Owners will have a 2 week personal occupancy allowance per annum either in their own, or an identical villa or any of the Salama Valley sites without charge and without losing anything from the rental guarantee
• The residence will accommodate local and international tourists on a daily, weekly
or monthly basis
• Owners will receive 7% net of their investment
• An increase of 2% p.a. will be pegged to the rental return
• The management company will equip and furnish the property to a high standard

Within the framework of its management, the operator ensures its customers the facility of:

• 24-hour concierge
• Daily cleaning services, with supply of linen
• Provision of all staff

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CAPE VERDE A MODEL TO FOLLOW

Not too long ago the process of registering a new business in Cape Verde was a long and convoluted process which could take months to complete, as a mountain of paperwork was required to be filed with the problems of coordination over the country’s nine inhabited islands. With several trips required to each agency across the archipelago it is not surprising that this inefficiency has put off many businesses from making the move and getting set up in Cape Verde.

However this is now a thing of the past as Cape Verde has now centralized their processes and have joined the information super highway with the help of the United States and a grant from the U.S. Millennium Challenge Corporation (MCC).

It is now possible to avoid all of the travelling and to complete the necessary applications and submit them in minutes rather than months.

Making operations readily available to the public and ensuring processes are transparent has been an arduous task, however now in the public libraries it is possible to complete all applications through the new e-government systems.

No country has been crying out for this more than Cape Verde, as having a country situated in 4000 Sq kilometers of the Atlantic Ocean and spread across 9 islands, however the changes also allow for global access and enables worldwide businesses to quote and tender for contracts and bid for goods and trade.

This is especially important for the estimated 400,000 US based Cape Verdeans who can now have greater links with this home country via the internet. The system provides an easy means of payment of taxes, registration of businesses and also provides access to birth and marriage certificates in both English and Portuguese.

Being one of the first countries to be awarded a MCC grant from the US, the Cape Verde Islands now provide the model to follow, and it is anticipated that many countries will now be following their lead.

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Luxury property development in Cape Verde

It is not difficult to see the attraction of the Cape Verde Islands as an alternative to far flung destinations such as the Maldives and the Caribbean. For one, the introduction of direct flights from the UK, as allowed tour operators to get involved, and the existing facilities, all inclusive hotels and stunning setting is starting to draw visitors to other countries as they seek a short haul destination which provides something exotic a little more closer to home.
When you have the offer of a package holiday that involves little change in time zone, and thus no jet-lag, a comfortable 5.5 hour direct flight, a transfer time of under 30 minutes, and all of the facilities in place for a relaxing holiday it is no surprise that large volumes of tourists are defecting from the more traditional and established locations.
With the package tour operators running trips to Sal and Boavista, holidaymakers seeking a little more luxury and exclusivity are being well catered to on the island of Sao Vicente. If you are looking to mix with the rich and famous and enjoy a little more of the high life, then you will be well catered to on this island.
Sao Vicente is the second most populous islands in the archipelago, mostly located in and around the capital of Mindelo which is a well know stop off point for many cruise liners heading across the Atlantic. Providing one of a limited number of deep water ports necessary to accommodate modern cruise ships, its position is guaranteed. The construction of exclusive high end residences, in particular the Fortim Mindelo development and Nikki Beach resort , provide 5-star residences in Cape Verde in addition to their exclusive resorts on the Algarve in Portimao and of course the playground of the rich and famous in Marbella.
It is always possible to se a star or two, and sponsorship at the Venice and Cannes film festivals in addition to the Oscars further solidifies the company’s reputation as a luxury lifestyle provider.
No full 5-star development would be complete without a boutique hotel, casino and Michelin star restaurants and at Fortim Mindelo you can expect to be well catered to. Located in a privileged setting high above the city on a rocky outcrop, the developments will provide stunning panoramic views of the Atlantic Ocean and across Mindelo Bay.
If you are seeking something different and are looking for class and exclusivity, and are keen to mix with the film stars and elite of this world then Sao Vicente is certainly worth further investigation.

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Overseas property as an investment

Investors look to property because it has historically proven to be one of the most reliable options for investment and can offer lucrative returns. While other investment options can provide reasonable returns, they tend to be more volatile. Property investment is more stable and, consequently, has fewer risk implications.

With conventional investments and savings accounts providing such low rates of return, many clients have turned to property to build up substantial funds on a more consistent basis.

No other investment allows such flexibility in terms of staging payments or the ability to financially gear. Gearing enables an investor to enjoy the benefits of returns based upon the full asset value having invested a much smaller percentage.

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Morocco-Open Skies Agreement With The EU

The signature of an Open Skies agreement with the EU in December 2005 is fostering further growth in passenger air transport, with a view to reaching some 1400 weekly connections, up from only 600 in late 2005, as well as boosting the proportion of direct flights to the country’s holiday resort destinations from 40 to 60%, according to Morocco’s transport minister.
The conclusion in May 2006 of a new five-year deal with Europe’s leading low-cost airline, Ryanair, was seen as a key indication of the sector’s renewed interest in the Moroccan market.

Additional major infrastructure developments include the current proposals for a Channel Tunnel link between Punta Paloma (Spain) and Tangier (Morrocco).

While neither Moroccan nor Spanish officials have given a bottom-line estimate for their project, private analysts said it could cost $6.5 billion to $13 billion. The two nations said that they are a long way from resolving financing details but that they hope to rely heavily on the European Union and the private sector.

If all goes to plan, by 2025 passengers could leave Europe somewhere under Punta Paloma, just outside the town of Tarifa, in Spain, and cross the African coastline under Cape Malabata, to the east of Tangier, an underwater stretch of some 17 miles.

A development of such magnitude would obviously have a dramatic effect on the tourist market, but will not be measurable for at least two decades.

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Morocco-Economy

In recent years, Morocco has seen a great improvement in standards of living, with lowering unemployment levels and increasing numbers of the population able to obtain mortgages. Numbers of Moroccans living in extreme poverty is sharply decreasing, with economic levels fast reaching similar levels of some European countries.
The agricultural sector is one of the main keys to the Moroccan economy and the growth in this sector due to the steady climate over recent years with good levels of annual rainfall has assisted in strengthening the economy.
The real estate industry and other construction based works have bought large improvements to the Moroccan economy in recent years and growing strength in this industry, assisted with the King’s Plan Azur, is expected to keep the future growth at strong levels.
Plans are in place to change the dominance of agriculture on the country’s economy and move into more industrial sectors such as energy and mining.

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