Zaha Hadid unveils plans for Moroccan theatre

Zaha Hadid has unveiled plans to build a 27,000sq m theatre in Morocco. The architect has signed an agreement for the architectural design of the Rabat Grand Theatre with the Bouregreg Valley Development Agency. Once completed, the 1.35 billion moroccan dirham (£100 million) building will include a 2,050-seat theatre, a smaller 520-seat theatre, studios and an outdoor amphitheatre with a capacity of up to 7,000. It is part of one of Morocco’s largest developments - the 6,000ha scheme in Bouregreg Valley in Rabat, which will near completion in 2014. “I am delighted to be building the Grand Theatre in Rabat”, said Hadid. “Morocco’s unique musical traditions and rich cultural history in the performing arts are renowned throughout the world. I am honoured to be part of the cultural development of the nation’s capital.” Last Week, Hadid was awarded the Financial Times’ Women at the Top’s first award for excellence outside of the corporate business world.

via BDonline.co.uk

Relance de la station Taghazout

Le protocole d’accord pour le développement de la station balnéaire de Taghazout a été signé, mardi à Rabat, en présence du ministre du Tourisme et de l’Artisanat, M. Yassir Zenagui, et du wali de la région de Souss-Massa-Drâa, M. Mohamed Boussaid. Le texte définit les principales conditions de mise en œuvre du projet, notamment la création d’une société de développement commune.

Les signataires - la Caisse de dépôt et de gestion, le Groupe Alliance Développement immobilier, Colony capital, Société Sud parteners et la Société marocaine d’ingénierie touristique- projettent de développer un éco-ressort touristique de faible densité d’une capacité d’environ 8.000 lits dont 5.800 lits hôteliers...

D’après le ministre du tourisme, le projet de Taghazout, dont les travaux débuteront en 2011, contribuera à la protection de l’environnement du site et à la valorisation du patrimoine architectural de la région. “Taghazout éco-ressort sera une destination d’avenir, une destination phare du Maroc de demain”, a-t-il promis lors de la signature du protocole d’accord, ajoutant que cette station apportera à la région et à la côte atlantique toute entière une vision nouvelle et dynamique, respectueuse de son environnement qui s’inscrit parfaitement dans l’approche de développement durable, un des axes principaux de la Vision 2020...


Il y aura notamment un recours aux nouvelles technologies, à l’image des systèmes intelligents pour la gestion de l’eau, l’énergie renouvelable, ainsi que l’utilisation de matériaux locaux et d’artisanat. Selon ses concepteurs, la station devra comprendre outres les hôtels, un village de surfeurs, un village de vacances écologiques dans l’esprit de “Center parc”, un camping aux normes internationales, un golf de 18 trous, ainsi que des cafés, des restaurants, des magasins et des galeries.

via MAP

Morocco is emerging as a tourism hotspot

Dubbed one of the ‘hottest markets for 2010’ in a recent Jones Lang La Salle Hotel Investment Outlook report, Morocco is brimming with opportunities for hotel operators, investors and designers alike. At least 80,000 new hotel rooms are planned for the country, making it one of the most buoyant markets in the Middle East and North Africa at present. Rated number one for tourism business environment in 2010 by Business Monitor International, Morocco seems to exemplify the benefits of a long-term sustainable government strategy that has encompassed infrastructure and human resources development, as well as incentivising private sector investment. “Sustainable development will be at the centre of Morocco’s new strategy, with all its components — economic, social, cultural, heritage and environment — allowing Morocco to develop its assets with real added value and differentiation,” explained Omar Bennani, CEO of the Morocco Tourism Development Agency (SMIT).
The country has also remained largely unaffected by the global economic crisis. “Morocco has carved a niche for itself on the global and regional tourism and hospitality investment landscape,” noted Chiheb Ben Mahmoud, senior vice president, MENA, for Jones Lang La Salle Hotels. “By moving to address the challenges of the new post-boom financial environment, the country has emerged as a mature hotel investment market. While the pace of development has slowed, a lot has been achieved over the past years,” he continued. The country’s original tourism development strategy aimed at tripling hotel capacity and included Plan Azur, with six beach destinations allocated to international developers at Mazagan, Saidia, Mogador, Lixus, Taghazout and Plage Blanche. New resorts are also planned at Chbika, Tamuda Bay and Cala Iris. However, it is Marrakech that really seems to be attracting the attention of the world’s leading hospitality brands. Mandarin Oriental, Baglioni, Rocco Forte Collection, W Hotels, Oberoi, Four Seasons, Park Hyatt, The Address, Jumeirah, InterContinental, Marriott, Park Plaza and Radisson Blu are all making a beeline for the city – altogether, some 1,500 rooms in the five-star category are due to open in Marrakech within three years, according to Jones Lang La Salle data.
The eagerly-awaited Mandarin Oriental resort is set on 53 hectares in the Palmeraie region, offering access to Marrakech and the mountains while seductively positioning itself as an exotic retreat. Riad-style accommodation, and extensive spa and restaurant facilities are indicative of a trend towards stand-alone destination resorts. “The arrival of Mandarin Oriental will enhance the awareness of the location as a luxury destination, helped by the number of luxury hotels scheduled to open in the not too distant future. The city appeals to a fashionable crowd of sophisticated travellers,” said Patrick-Denis Finet, general manager of the Mandarin Oriental, which is set to open in early 2011. Rocco Forte Collection’s luxury resort offering at Assoufid will feature a golf course and tennis and spa facilties, as well as residential villas; Jumeirah is planning golf and polo, Park Hyatt has golf as a USP, Jawhar resort has a spa and wellness resort with villas, while Emaar Hotels’ The Address will debut with hotel, villas, wellness villas, polo fields and tennis facilities.
According to CEO for Emaar Hotels, Marc Dardenne, the brand’s first foray overseas is also the first retreat property developed by the company. “The Address Jnan Amar Marrakech is setting a new niche in the industry with The Address philosophy of offering tangible guest benefits matched by superior service standards and great locations — we expect occupancy levels to be strong from inception,” he predicted. Godwin Austen Johnson (GAJ) was responsible for designing The Address Jnan Amar. The design firm also recently worked on a private hunting lodge in Rabat and is currently tendering for additional projects in Morocco... Morocco has an established design tradition that has been successfully exported across the region. And although the standard of design within the country varies widely from region to region, places like Marrakech are renowned for the quality of their offering, according to Pintado. “I believe the level of sophistication varies enormously from area to area but I have found through my multiple visits that Marrakech has some of the most creative and exciting interiors I have come across. “The way lighting is done in Morocco is unique, I feel; the lux levels are very low and candles are used extensively, creating very sensual environments. The range of local materials – tadelaq, zelij, brass work as well as exquisite handmade ceramic tiles – gave us a superb base when designing the two projects mentioned above,” she added...

By Selina Denman
ConstructionWeekOnline.com

Tourism on the up

A combination of growing visitor arrivals and a cash infusion into travel and accommodation infrastructure is rounding out a successful year for Morocco's tourism industry.

More than 9m tourists are expected in 2010, 6% higher than in 2009 but below a target of 10 million set before the global financial crisis, Yassir Zenagui, the tourism minister, told reporters in the northern city of Tetouan on September 2. In the seven months leading up to July some 5.6m visitors came to Morocco, according to the Ministry of Tourism. British tourists comprised most of the arrivals, followed by Italian and Spanish. Some 1.07m foreigners arrived in July alone, despite fears that tourism would decline due to the holy Muslim month of Ramadam falling during the summer season.

Growth in the tourism industry has in recent years averaged a contribution of around 9% to GDP, with sustained growth of 15% over the last decade, added Zenagui. In terms of year-on-year growth, Zenagui said Morocco could outperform major players in global tourism such as Turkey this year, which he said is expected to see a 2% rise in arrivals.

Indeed, emerging markets are driving the majority of activity in the industry, according to figures from the World Travel and Tourism Council (WTTC) released in August. Overnight visitor arrival growth reached 12.3% by end of June in Africa, 13% in the Middle East, 12.3% for the Asia-Pacific, 5.9% in the Americas, and just 1.4% in Europe. The WTTC's 2010 Morocco Report, released in July, shows similar promise for the Maghreb country. The contribution of travel and tourism to Morocco's GDP is expected to increase from 14.1%, or Dh111bn (€10.02bn), in 2010 to 16.7%, or Dh247bn (€22.3bn), by 2020. Real GDP growth for travel and tourism is expected to be 0.3% in 2010 and average 5.8% per year over the coming decade.

The travel body also estimates that the sector's contribution to employment will rise from 12.2% of total employment, or some 1.3m jobs (1 out of every 8.2 jobs), in 2010, to 14.5% of total employment, or 1.9m jobs (1 out of every 6.9 jobs), by 2020...  Under "Vision 2010", also known as Plan Azur, six new developments were planned to open by 2010, though only two have opened for business: the Mediterrania Sadia, which was the first Plan Azur destination to open in June 2009, and the €300m Magazan Beach Resort, which opened in October 2009. Developer Le Jardin de Fleur is expected to open the first of its 11 resorts in early 2011...

 via Oxford Business Group

Morocco Investing in Affordable Housing Solutions

After a building slowdown caused by the global recession and the removal of a tax break for low-income housing developers in 2008, the Moroccan government has reinstated affordable housing incentives in its 2010 budget. Now in the final stages of parliamentary review, the 2010 Finance Bill will give social housing developers exemptions from a capital gains tax and a cement tax. Social housing is defined by the government as homes sold for less than Dh200,000 (€18,000) – however, university dormitory developers will also be granted tax incentives.

"The advantages given to developers will allow a return of investment to the construction industry, with all that it entails in terms of opening up new construction sites, job creation and sales of building materials," Youssef Ben Mansour, chairman of the National Federation of Housing Developers, said in a press statement at the end of 2009. Low-income homebuyers will also benefit from a value-added   tax rebate of Dh40,000 (€3585), up from Dh30,000 (€2689), and an exemption from registration fees.

As an estimated 70% of market demand is for social housing, Morocco has a strong imperative to speed up the construction of affordable homes... Morocco's total affordable housing shortage is estimated at 1.2m homes, which is expected to increase by 125,000 annually. Just 35,000 social housing units were built in 2009, down from 129,000 in 2008. The decrease is partially attributable to the global recession, but also related to the repeal of tax breaks in 2008 for developers of social housing units. In its place, all property developers received a 50% break last year, causing many to leave the low-income construction market in search of higher profit margins.

 Local developer Addoha reported a 25% profit margin last year, down from 65% in 2008. To take advantage of the budget's new incentives, the company is planning to look for financing on capital markets. "We have announced a goal of 120,000 homes between 2010 and 2015, and that's why we plan this capital increase," the company's chairman, Anas Sefrioui, told international press in April 2010.

One of the government's key programmes in providing affordable shelter is Fonds de Garantie en Faveur de Populations à Revenus Irréguliers et Modestes, granting people with low or irregular incomes loans covering up to 70% of the price of their home. Commercial banks have been reluctant to extend housing loans to the low-income population, exacerbating the housing crisis as the majority cannot afford to purchase homes on their own...

via Oxford Business Group

Immobilier au Maroc: Le temps de la sagesse ?

Heureux ! Robert Griesbach, retraité de 63 ans, établi dans la région de Marne la Vallée, est impatient de s’envoler pour le Maroc. A une quarantaine de kilomètres d’Agadir, il a acheté en juin dernier une villa avec piscine dans le village pour seniors créé par le groupe immobilier Dyar Shemsi. « Le soleil, la chaleur c’est ce qui m’attire. J’ai aussi vécu au Maroc durant ma prime enfance,  explique t-il. A Dyar Shemsi, il y a un centre médical, des services, on va se retrouver essentiellement entre Européens. Je ne serai pas isolé ». Pour sa maison -  deux chambres, une salle à manger -, il a déboursé 160 000 euros, sans compter la piscine...

A Dyar Shemsi, la commercialisation des 43 premières maisons de ce village pour retraités, concept novateur au Maroc, est presque achevée. Situé en pleine nature, dans une  paisible orangeraie de 30 hectares, le projet de 140 villas comprend un dispensaire médical ouvert 7 jours sur 7, des navettes pour se rendre à la ville la plus proche, mais aussi un restaurant, un club house, une piscine, un parcours de golf, des terrains de tennis et de pétanque…

« Nous avons principalement une clientèle de jeunes retraités français, âgés de 55 à 65 ans. Ils représentent près de 70% de nos futurs résidents, indique Omar Maaouni, directeur associé du groupe immobilier marocain. Pour ceux qui ne connaissent pas le Maroc, le projet rassure et présente les facilités de la vie en communauté ». Sans oublier les avantages fiscaux : abattement de 40% puis réduction d’impôt de 80% sur les pensions de retraites, à condition d’être résident fiscal au Maroc. Pour une villa de 80 m², les prix débutent à 100,000 euros et peuvent grimper jusque 200,000 euros, selon les superficies et le niveau d’équipement.

 « A contrario des concepts américains totalement réservés aux seniors, nous souhaitons éviter l’effet ghetto et introduire une mixité générationnelle et culturelle, avec une clientèle marocaine, plus jeune », précise Omar Maaouni... Pour les retraités, la demande concerne surtout le balnéaire, sur l’axe Agadir-Tanger. « Les budgets s’étalent de 150 à 250,000 euros (…) C’est une population qui a besoin d’être accompagnée», confirme Dounia Boukhari, directrice d’agence à Casablanca pour le groupe immobilier Laforêt. La filiale du groupe français commercialise ainsi seulement les produits de programmes neufs respectant le principe de la Vente en état futur d’achèvement (VEFA), régime juridique obligatoire pour la vente sur plans, qui prévoit le versement d’une caution bancaire ou une assurance, mais souvent peu respecté des promoteurs.

via L'Express (Édition Internationale)

Addoha plans capital hike in 2010

Addoha has hired local and foreign banks to advise on a capital increase to help finance the construction of 120,000 low-income homes by 2015, company executives said. Addoha plans to announce details of the size capital hike "in coming weeks", Chairman Anas Sefrioui told reporters at the company's headquarters on the outskirts of Casablanca. "We have announced a goal of 120,000 homes between 2010 and 2015 ... and that's why we plan this capital increase," Sefrioui said.
Addoha is a top player in the government's drive to eradicate slums and meet a big shortfall in affordable homes. Its shares helped power the Casablanca bourse to a record high until the global financial crisis hit and investors worried whether it would find buyers for its high-income homes. The company said at the time that it was refocusing on low-income housing. Addoha's shares tumbled on Wednesday after it disappointed the market with 2009 earnings that came in below expectations. The company blamed the sale at a loss of two new hotels at its Group Fadesa Maroc unit's Saidia tourism and villa complex in the east of Morocco. Sefrioui said Fadesa Maroc had agreed to supply the hotels under terms set with the government when the Saidia project began, and their sale was necessary to ensure a successful commercial launch of the development. "The (profit) margins of Fadesa Maroc's other projects are very positive. This was the only part that showed a negative margin and it happened only last year," he told reporters. He played down any prospect that the company could run short of funds as it presses ahead with new building programmes. Addoha has 190,000 homes being built or marketed and company executives said it had sales guarantees representing turnover of 14.2 billion dirhams, up from 7.5 billion dirhams in January 2009. They said Addoha has debts of 8.4 billion dirhams, 3 billion of that long-term debt, giving a debt-to-equity ratio of 1.2 times, which they said was good compared to the sector average.
Addoha reported 2009 net income of 878 million dirhams on Wednesday, down from 1.16 billion in 2008. Traders said analysts had been expecting a figure of above 1 billion dirhams. The stock closed down 5.2 percent after the results, compared to a 1.4 percent drop by the benchmark Morocco all-share index. Addoha officials said they expected the company's luxury housing brand Prestigia, which began sales last year, to achieve a profit margin of 25 percent. They said they also achieved that level of profitability last year in low and middle-income housing activities and expected to repeat the performance in 2010. Sales commitments for high-end housing already accounted for 52 percent of the total at the turn of the year Prestigia secured 3,000 sales commitments after one year of operations.

By Tom Pfeiffer (Reuters)

1,800 km of highways to be completed by 2015

Morocco’s motorway network will cover 1,800 kilometres by 2015 and will link all of the cities with over 400,000 inhabitants. This promise has come from the country's Transport Minister, Karim Ghellab.
With its current 916 km of motorways, Morocco already has Africa's second largest network, second only to that of South Africa. The development of the motorway network comes with a stepping up of the rate of construction, rising from 40 km per year during the 1990s to 160 km a year between 2000 and 2009, the minister said. He was speaking during a ceremony to mark the 20th anniversary of the founding of the Moroccan national motorway association (ADM). The construction programme foresees the completion of the Marrakech-Agadir (233 km) and Fes-Oujda (328 km) sections in 2010 and 2011 respectively and the start of work over the coming months of 384 km including the Rabat highway (41 Km) and the Berrechid-Beni Mellal (172 km), El Jadida-Safi (140 Km) and Casablanca-Berrechid sections.

via ANSAmed