Written by Best on November 22nd, 2007 in real estate in morocco.
Nov 2007
Moroccan developers protest the potential loss of building-sector tax breaks.
The 2008 Finance Act passed by the cabinet on November 7th raised the issue of property tax breaks.Due to a change in the system, developers will now have to pay 15 % corporate tax in 2008 and 30% in 2009. The VAT (Value Added Tax) on sale prices will also rise from 14% to 20%.
This could cause property developers to re-evaluate projects
real estate in morocco
Written by Best on September 24th, 2007 in real estate in morocco.
Furthering the massive boosts in Morocco’s economy, this month (September) Morocco welcomed a five-year, $700m aid package from the US Millennium Challenge Corporation (MCC) .
The grant was finalized at a signing ceremony in Tetouan on the last day of August, and will be used to help Morocco combat poverty and develop the Moroccan economy. The plan will stimulate economic growth by raising productivity and improving employment opportunities in certain key sectors, and aims to reduce poverty rates in target areas.
The moroccan government expects the projects included in the program to raise the country’s economic growth rate by 1.1%, increase gross domestic product by $118m per annum and reduce poverty levels of 20% by 2012.
$111.8m will be spent to promote a project called “The artisan and the Medina of Fez“, to benefit links between the crafts and tourism sectors and the cultural assets of the Fez medina.
economic plan Fez foreign investment real estate in morocco
Written by Best on September 17th, 2007 in morocco history.
The word Morocco is directly derived from the Amazigh (language of the Imazighen people already long established in North Africa in 1000 B.C.) word Mur-Akush meaning Land of God.
The full Arabic name of Morocco, Al-Mamlaka al-Maghribiya, translates to “The Western Kingdom”.
Al Maghrib (meaning “The West”) is often used. Historians used to refer to as Al-Maghrib al Aq?á (”The Farthest West”), to avoid confusion with the region called the Maghreb. Morocco’s capital was originally Marrakech.
morocco morocco history real estate in morocco
Written by Best on September 14th, 2007 in real estate in morocco, Property.
The government of Morocco chose Abu Dhabi-based Reem Investments to develop an $1bn project in Marrakech.
The 200-hectare project, named Atlas Garden, will consist of three hotels, a fitness club, 18 hole golf course, market and shopping centre, as well as villas and apartments. Read the rest of this entry »
Marrakesh Morocco Golf Property real estate in morocco
