Monte-Carlo SBM Expanding In Marrakech

For its first project abroad, the Monegasque group has chosen a flagship destination, popular amongst its traditional clientele: Marrakech. The Jawhar Marrakech (8-hectare property) will offer its clientele more than 80 bedrooms (75m²) and suites, in addition to spacious villas. Its Business Centre will provide everything needed to organise banquets, conventions and events. Its library, home cinema and Arts Centre will prove that wherever Monte-Carlo is present, its traditional passion for culture is present too. Chic or informal, several restaurants boast diverse and refined ambiances. Around the hotel, landscaped gardens and green areas are the setting for a three-in-one pool offering three different temperatures. A renowned specialist of well-being, Monte-Carlo S.B.M. will install the following in its new gem: A spa (3.500m2) with an indoor pool, fitness trail, sports club, tennis courts, cardio-training and gymnastics rooms. An Espace Détente (relaxation area), boutique and hairdressing salons will complete these fabulous services.
A renowned specialist of well-being, Monte-Carlo S.B.M (Société des Bains de Mer) was founded in 1863. The group runs currently five casinos, four hotels and 32 restaurants, all in Monte Carlo.

via hotelsmag.com

Galeries Lafayette returns to Casablanca

Paris's most famous department store will open a branch in Morocco, where it also had a branch in the twenties. Local newspapers, including the North African daily Le matin, wrote about the agreement, which will involve an exclusive franchise between the French group and the Moroccan group Aksal. The director general of the Galeries Lafayette, Paul Delaoutre, explained that the group "has chosen to establish itself in Casablanca with a large store of 13,000 sqm", which will be located inside the Morocco Mall, the shopping centre which will open its doors in Casablanca in 2010 and will house, over more than 10 hectares world famous brands
The director general of the Morocco Mall project, Salwa Idrissi Akhannouch, explained that "the economic capital of the monarchy which will welcome the Galeries Lafayette will position itself as a fashion and entertainment capital, but also as an economic hub in Africa". Of the 5,000 jobs that will be created by Morocco Mall, the Galeries Lafayette will offer 400.

via ANSAmed

Maroc Prestige Immo - Succès de la première édition à Paris

La première édition du salon Maroc Prestige Immo qui s'est tenue à Paris du 14 au 17 novembre à l'espace Champerret a été couronnée de succès. Les visiteurs étaient venus nombreux pour découvrir les produits balnéaires, de golf, de médina ou de ville qu'offre le Maroc... une vitrine de l'immobilier haut de gamme dédiée à une clientèle parisienne à la recherche de la meilleure opportunité, en termes d'acquisition d'une résidence secondaire ou d'un investissement raisonné et rentable au Maroc. Et ce, sans oublier les Marocains résidant à l'étranger qui ont les moyens de s'offrir de tels joyaux.
Du côté des exposants, plusieurs promoteurs immobiliers actifs sur le marché marocain ont fait le déplacement, notamment Al Omrane, Alliances Développement, Thomas & Piron (Belgique), Kerzner (Afrique du Sud), Occibelia et Proclub (Espagne) ou Green fee Marrakech (Italie).
Le marché de l'immobilier de luxe connaît un essoufflement à cause de la baisse de la demande. Cette tendance a été le plus constatée au niveau de Marrakech qui accueille un grand nombre de projets dédiés à une clientèle locale très aisée et surtout à une clientèle étrangère en quête de résidence de luxe à un prix attrayant comparé à celui pratiqué chez eux en Europe ou ailleurs. Cependant, vu la crise économique mondiale, Marrakech pâtit le plus de cette morosité et connaît un recul des ventes. Et pour cause, les acquéreurs étrangers, surtout, craignent pour leur argent après l'impact des supprimes aux USA et aussi en Europe. En attendant, les autorités marocaines ne cessent de rassurer quant à la solidité du secteur.

via Nadia Dref, Le Matin

Villa Royale launched in Tangiers

In the latest Gulf investment in the North African region, the foundation stone of a $1.3 billion real estate project was laid in Tangiers. The great potential and strong prospects of the Moroccan economy encouraged the company to go ahead with its plan to start the project despite the financial crisis that is crippling some of the globe's strongest econ-omies, according to executives of the Kuwaiti Gulf Holding Company (GHC).
The project is expected to be completed by the end of 2011, while the first part is scheduled to complete by mid 2010. Villa Royale is the 3rd project for the company with investments totalled so far nearly $2.2 billion andspreads over 1.13 million sq.mt. in the prestigious Gulf Finance House (GFH) promoted Royal Resort Cap Malabata Project.

via Jumana Al Tamimi, Gulf News

World Bank Joins Chaabi in Cement Project

Ynna Holding, a significant player in the Moroccan real estate sector, is planning to construct a greenfield integrated cement plant with a production capacity of 2 million tons per annum in the Settat region. Ynna Holding sees cement manufacturing as a natural step given its existing businesses.
The World Bank is considering a financing package consisting of a Partial Credit Guarantee of up to 50% of the local debt financing and an equity investment of up to 19% of the share capital.
The Holding is in the process of diversifying its portfolio of activities and sees cement manufacturing as a natural step given its existing businesses. IFC (World Bank) is expected to play a significant role in this project by assisting a local company as it enters the cement sector in a country that has been traditionally oligopolistic and dominated by international players. IFC's investment, both as a shareholder and guarantor, is expected to provide added value to this Project. IFC Partial Credit Guarantee will improve Ynna Holding’s access to long term financing as it is currently reaching is exposure limits with its local banks. Furthermore, IFC will support the company in establishing local environmental and social practices consistent with the IFC Performance Standards.

via Africa Intelligence