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The recent excitement in Morocco and Spain about the potential tunnel linking Morocco Africa with Spain Europe is gaining more ground report UK based Moroccan property experts Property Borders.
In a recent interview with Karim Ghellab, Morocco's minister of transportation he stated "It's not easy to predict a date yet, but it is a project that will happen. It will completely change our world,". With many thousands of Moroccan's and tourists crossing the straits of Gibraltar every year on ferries "the tunnel makes sense" says Mustapha Mezouri a Moroccan director for Property Borders.
Property Borders are the UK's leading Moroccan run property agency in London. They sell a wide range of Moroccan property whether it is for a holiday home in Morocco, retirement home or for investment purposes.
The tunnel will have a positive effect for both countries, Europe and North Africa if it goes ahead. By 2010 Morocco expects to become part of the Euro-Med free trade zone and is working towards a close relation with the EU this is a significant development that will undoubtedly boost the Moroccan economy further still.
Mustapha Mezouri says FDI (Foreign Direct Investments) in Morocco is at a all time high from investors across the globe, France and Spain are a big part of this. The effects of Vision 2010, Morocco's drive to have 10 million tourist by 2010 and the planned tunnel are evident everywhere with the Tangier Med Port the biggest in north Africa and new motorways being constructed. Tangiers airport is being extended in preparation for the flood of low cost and charter carriers that will likely use it. The open skies agreement, signed recently with the EU, will open up the skies to allow no-frills/ low cost airlines to fly to Morocco.
Property Borders receive a large amount of enquiries about the Plan Azur resorts of which they are official agents. They recently released the first units of La Plage at Port Lixus an Exclusive beachfront condo hotel in Larache.
Port Lixus is the second of the Plan Azur resorts to be launched. The first 25 units of the condo hotel units at La Plage Port Lixus were sold out in two weeks and Property Borders have a list of clients waiting for the second release which is imminent.
Mustapha Mezouri comments "the dynamic King Mohammed VI has made northern Morocco a priority for development with Tangier at its heart and incentives for investors such as • 0% Annual property tax for the first 5 years • 0% tax on rental income for the first 5 years • 0% capital gains tax if profit is under £40K or after 10 years of ownership • 0% inheritance tax when a property passes to a family member • 100% repatriation of funds when you sell your property."
Tangier which was once seen as a seedy area has changed immensely over the past years. The highly capable mayor Mohamed Hassad has brought in plans to make this area a centre for tourism and business trade.
Property Borders have properties for sale in all areas of Morocco including the Exclusive La Baie Panoramique in Tangier the first phase of which is due for completion in December 2007.
So if you have tunnel vision about buying a property in Moorish Morocco why not give Property Borders the UK's leading Moroccan run property agency a call 0208 508 9905
www.propertyborders.co.uk
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