The Visionary Plan Azur 2010
Morocco is entering an extremely exciting and prosperous time in the years leading up to 2010. Investment opportunities, new developments and job creation is all part of the vision that King Mohammed VI and his Plan Azur 2010 has for the future of the country and the Moroccan public. Focusing on the tourism industry, Plan Azur 2010 was set into motion in 2001. The improvements being made, not only to recognized destinations in Morocco, such as Casablanca, Marrakech and Tangiers, but over all, have already interested wealthy foreign real estate investors such as Malcolm Forbes and Richard Branson.
As a general and overall improvement project in Morocco, the Plan Azur 2010 has incorporated the upgrading of motorways and roads, the creation of marinas, high-speed trains, and most importantly, the development of six, modern and exclusive resorts. With resort development, has come an avalanche of interest from real estate investors who see these upgrades and new constructions as lucrative investment opportunities.
The Mazagan Resort, located on the coast of the Atlantic, will be developed by the world known development company, Kerzner, famous for many successful projects, including the casino resort Sun City in South Africa. South Africa comes into the spotlight once again with the plans to include a Gary Player golf course at the Mogador Essaouira development. This resort is focused on the tourists that flock to Marrakech. A Belgian-Dutch Consortium will oversee this magnificent project. The other resorts that are being developed include Port Lixus, Mediterrania-Saidia, Taghazout and Plage Blanche. All these resorts will see a rise in accommodation availability and contribute to the estimated amount of 600 thousand new employment opportunities.
Investing in Morocco and its growing tourism industry has many positive aspects that are rarely explored. Some of these sensible reasons to invest in the Moroccan property market and economy include: Low living costs, the rapidly growing property market, no inheritance tax is required, for the first five years no annual property tax is requested, and there are seventy percent mortgages available. Investing in a market and country that is just seeing a boom in property development and tourism makes perfect sense for the future.
