Morocco Hosts Foreign Investors For New Desert Oasis Resort

While Morocco may not be a newcomer to the tourism trade, recent figures indicate that interest in the region is very much on the up with more people than ever before visiting the country. This has been spurred on by the rather adventurous Vision 2010, a plan to increase visitor numbers from the current recorded high of 7.4 million a year to over 10 million by 2010, with the Moroccan authorities already primed for action.

We have seen a spate of new developments announced over the last few months, many of which have the direct backing of the Moroccan government as part of the Plan Azur. Notably a number of these ventures have targeted overseas investment parties from places such as Spain, with their obvious links to the region, who are stepping forward to join the party. Of the six master-planned beach resorts, the first Mediterranea Saida is due to open in May 2008 and will increase tourism bed capacity by 111,000 beds and generate nearly 200,000 jobs.

The Moroccan government recently courted a number of Spanish property developers with regard to investment in 184 planned real estate projects in Tangier and the initial signs are that they will not be short of interest in the venture with plans for coastal, rural and road and rail infrastructure projects all on the table.

When you also consider the fact that the Ministry of Tourism have already secured funding and project partners for new desert and oasis resorts in the southern regions of Errachidia, Ouarzazate and Zagora which will cost a total of US$14.4 million to complete, the size of the Moroccan tourism push becomes ever more apparent. The desert and oasis resorts will integrate hotel accomodation with campgrounds and place an emphasis on promotion of the local craft industry. The expected increase in visitor numbers makes all of the above projects more than feasible and there are plans for more resorts to be added to the mix in the future.

While there is no doubt that the increase in visitor numbers to Morocco has been impressive, a great deal of credit must go to the authorities who have handled the funding and partnership side very well. They have enlisted the support of key allies in Dubai developing giants Emaar with the hope of replicating the Dubai property boom success story. Such a welcoming government to foreign direct investment is sure to register in the minds of many property developers around the world and overseas property investors will not be short of reasons why Moroccan property is a smart buy and a sound addition to their real estate portfolios.