New Mayor Aims to Put Tangiers Back on the Map for Investors
Over the past sixty years, the Moroccan city of Tangiers has enjoyed a changing reputation: from being the destination of choice for celebrities after the Second World War, it was then known as a hippy retreat during the sixties and seventies, and more recently as a scruffier and less popular alternative to other, fashionable Moroccan destinations. However, the climate in Tangiers today is one of development and improvement, as several projects to re-generate and develop the area are taking place.
The driving force behind this change is Tangier’s newly appointed mayor, Mohamed Hassad, who was directed to go to the city by the Moroccan king in 2005 to revamp Tangiers in the same way he did with Marrakech five years previously. Tangiers is well-served by transport links; it is currently waiting on the development of a tunnel from Punta Malabata near the city, to Spain. There is already a car ferry from Spain that takes only 35 minutes, and soon the Tangier’s docks will be revamped and reserved only for passenger use, with the freight port moved along the coast.
Hassad considers overseas investment in Tangiers property to be fundamental to the city’s long-term success. Buyers have a choice between purchasing a traditional Moroccan property such as a riad within the kasbah, or one of the more affordable new properties being built around the city.
Morocco’s Government aims to boost the number of overseas visitors from 6 million as it is currently to 10 million by 2010, and the country’s mortgage market is also becoming more sophisticated. Mohamed Hassad therefore has reason to be hopeful about the level of interest from overseas property buyers over the coming years.
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The driving force behind this change is Tangier’s newly appointed mayor, Mohamed Hassad, who was directed to go to the city by the Moroccan king in 2005 to revamp Tangiers in the same way he did with Marrakech five years previously. Tangiers is well-served by transport links; it is currently waiting on the development of a tunnel from Punta Malabata near the city, to Spain. There is already a car ferry from Spain that takes only 35 minutes, and soon the Tangier’s docks will be revamped and reserved only for passenger use, with the freight port moved along the coast.
Hassad considers overseas investment in Tangiers property to be fundamental to the city’s long-term success. Buyers have a choice between purchasing a traditional Moroccan property such as a riad within the kasbah, or one of the more affordable new properties being built around the city.
Morocco’s Government aims to boost the number of overseas visitors from 6 million as it is currently to 10 million by 2010, and the country’s mortgage market is also becoming more sophisticated. Mohamed Hassad therefore has reason to be hopeful about the level of interest from overseas property buyers over the coming years.
If you wish to see the original article then please click here
posted by Obelisk International at 5:16 pm
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Early investors in Morocco’s property market are seeing the value of their homes continue to rise steadily, reports
Popular with UK buyers are the villas and apartments in the new resorts taking shape on Morocco’s Mediterranean coast - a short hop from Spain - as well as others down the Atlantic coast from Tangier to Casablanca and beyond.
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