Moroccan Mortgage

Raffles Marrakesh Resort

will have 150 rooms and 36 luxury villas, three restaurants options offering an extensive range of cuisines, plus state-of-the-art conference and meeting facilities.

For relaxation Raffles ‘Amrita Spa’ is also planned at Raffles Resort Marrakech.
According to an ancient Sanskrit legend, ‘Amrita’ is the gift of living well, sought by deities.

Air Arabia to open second hub in Rabat, Morocco to
serve Europe, Middle East and Africa

Recently name “Low-Cost Carrier of the Year” Air Arabia is investing in Morocco, which will give access to European destinations

• The Sharjah-based carrier dramatically expands its geographic reach through agreement with Regional Air Lines of Morocco
• Air Arabia intends to assume management rights for Morocco-based carrier
• Air Arabia and Ithmaar Bank provide capital injection for Regional Air Lines

(more…)

MOROCCO TOURISM

Tourism in Morocco continues to expand.
As summer in Europe ends, the July 2007 figures for tourist nights show:

By City:

• Marrakech +10%
• Casablanca +8%
• Tangier +7%

Tétouan and Fès showed a +3% increase

Marrakech remains the most attractive tourist destination with a growth rate of 11% year-on-year, followed by Casablanca (10%), Tangier (9%), Fez (7%), Rabat (6%), and Agadir (3%).

In an excellent blog from Morocco EverythingMorocco says

“Anyone with an interest in Morocco knows that an integral part of the future economic plan involves making revenue from tourism a major source of the national economy’s income. Foreign investment is being encouraged and development in that arena has been ongoing for a long time now.”

With discount airfares from Europe and the promise of an underwater tunnel from Spain, Morocco is preparing for a surge of Foreign visitors and investors. The challenge is to retain and invest in local culture and infrastructure, while benefiting from tourist spending.

We spent 3 days in Tangiers, and thoroughly enjoyed it.
It is surprisingly undeveloped for a large city. Markets (Souks) are terrific, and the views are spectacular.

I’ll post some Tangier photos shortly, then proceed with property advice.