by Joseph Sfeir
DG Jones And Partners - Morocco
A gateway to Africa and a country of dazzling diversity. Morocco never ceases to amaze you with its epic mountain ranges, ancient cities, sweeping deserts – and warm hospitality.
We, DG Jones & Partners Morocco SARL, decided to move in, opening our office in Casablanca this October 2019. For this occasion, we would like to share with you this overview of a country that is in continuous development and keeps progressing.
The story began in 2001 when Morocco entered an extremely exciting and prosperous time: Investment opportunities, new developments, and job creation were part of King Mohammed VI’s vision and his Plan Azur 2010
that he had 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, exceeded the recognized destinations in Morocco, such as Casablanca, Marrakech, and Tangiers, but throughout the whole nation, attracting interested wealthy foreign real estate investors.
The Plan Azur 2010, aimed at improving all sectors in Morocco, by incorporating and upgrading motorways and roads, creating marinas, launching high-speed trains, developing modern resorts, and most importantly supporting the tourism industry as a whole. This project attracted interested wealthy foreign real estate investors and created endless job opportunities.
Investing in Morocco and its growing tourism industry has many positive aspects that are rarely explored. Some of these include the low living costs, rapidly growing property market, absence of the requirement for an inheritance tax, exemption from the annual property tax for the first five years, etc.
In addition to the "Morocco Mall" that opened in Casablanca in 2011, and which was classified among the world top 5 Malls, several Residential Projects, Shopping Malls, Resorts & City Centers, as well as Industrial Projects, were developed in the various Moroccan cities until 2017, and again new plans were set for 2018-2022:
Chtouka-Aït Baha to launch several residential projects; ANP to launch new Ports Infrastructure projects; Besix, the Belgian construction group will work with the Moroccan construction leader TGCC, for the construction of the tallest Tower in Morocco and Africa.
The Public Sector is a major player in generating the output of the Construction industry as 80% of the public procurement projects are directed toward the infrastructure and construction sectors according to the Ministry of Equipment, Transport, and Logistics. The Construction industry accounts for nearly 6% of the GDP with a total annual turnover of nearly US$6 Billion.
The year 2019 appears so promising with the number of projects that will be inaugurated, in addition to the Infrastructure underway in preparation for a new promising era that will extend till the year 2030 and beyond, hence presenting great potential for investors.
The following list of current projects includes, but is not limited to: Mohamed V Airport – Terminal 1 Refurbishment, Casablanca Grand Théâtre, Sidi Maarouf Viaduct, Tétouan Grand Stadium, Casablanca Tramway 3rd Line, Arab League Casablanca Parc, Ain Sebaa Zoo, Hassan II Mosque Corniche Walkway, Guelmim Airport, Hôtel Marriott Tamuda Bay, Taghazout Touristic Town – Medina B, Mahdiyya Renewable City, Summer Centre Tan Tan El Ouatia and Zenata Eco-City.
Finally, Morocco will reap the benefits of all these efforts.
Already it looks good, and here it is!
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It is the right time to step in and be on the ground to actively take part in the Moroccan Business Market.