Kabila Resort is a new Morocco property development by Fadesa

New Kabila Resort Development
The second of two projects being released by Fadesa, launching Summer 2006, is a luxury tourism complex project dubbed “feet in water”. Fadesa’s Kabila project will enjoy a prime location roughly opposite the Spanish Costa Del Sol just some 27 miles away in the bay of Tetouan, one of the most exclusive tourist areas halfway between Ceuta and Tetuán on the Mediterranean coastline.

Lying just south of Fnideq, it is just 30 kilometres from Tangiers airport. The prestigious resort area of Marina Smir is dubbed Morocco’s golden mile and is an upmarket exclusive beachfront resort and vacation destination centred around a Puerto Banus style marina attracting Morocco’s wealthy residents including The King of Morocco and the Saudi Royal family who own houses in the area of Smir. Cabo Negro and The Tetouan area is already well established with hotels, apartments and golf courses.

It is here where Morocco’s first foray into residential tourist development started, with the smart Sofitel Thalassa Marina Smir hotel resort opening in 1996 and was upgraded in 2002. The location is particularly attractive due to its proximity to the birthplace of golf in Morocco, the Tangier Royal Golf Club and the Cabell Robinson designed Royal Golf Club of Cabo Negro. Just over 12 months ago, a series of apartment complexes were then launched, initially on the market for £35k the first completed properties are now sell for around £50k. All but a few of the 180 apartments remain unsold.

Kabila is set to become a flagship residential resort, setting new real estate standards for the region and offering off-plan luxury accommodation at a below market price as Fadesa has the policy and ability to launch their projects at a competitive price level due to the low prices they pay for the land. The location is 15 mins from Marina Smir, between the glorious kilometre long beach and a new golf course and luxury hotel to be constructed shortly. The plans include a 55,000 sqm leisure and commercial centre ensuring you have all the facilities you could ask for in a holiday resort.

Fadesa Kabila
FADESA will invest some 150 million euros in this complex, comprised of 2,189 homes of differing property units including 354 apartments and 179 villas, nicely situated on a hill with stunning sea views over the Moroccan coastline whilst the surrounding Rif mountains add to the spectacular scenery. The development will also benefit from a nearby aqua park and Marina’s Kabila, Restingina-Smir and M’diq all of which have been earmarked for further development with the aim of capturing a share of the market from the longer established marinas found in Cadiz, Gibraltar and Marbella, as well as the French marinas further along the coast. In addition, the new free port in Tetouan will be completed in 2007, very similar to Emaar’s Dubai Marina. The Americans have won the contract to run the port and 2500 individuals will be arriving in 2007 to start work there.

This is the first 100% private initiative of a single company in Moroccan territory and works will start as soon as the relevant licences are signed. Marketing of the Fadesa Kabila resort is expected to start around Summer 2006 with prices set to be released during August. In an article in Spain’s El Mundo, Fadesa remarked, “Kabila has a superior tourist infrastructure when compared to Saïdia”, it is also a concept born directly from Fadesa unlike the resort of Mediterranea Saïdia which was developed in conjunction with a number of parties.

Morocco Property Investment at Kabila
On the strength of Fadesa’s reputation as a developer and the success of its past resorts such as Costa Esuri, the resale potential of Kabila resort property is strong. This is an excellent investment opportunity to buy property off-plan at 25% to 50% of the cost of property in Spain within a favourable low-tax environment. If you are interested in purchasing at the Kabila resort and would like more details please contact us here.