Morocco undercutting ‘saturated spain’?

An undiscovered area of Morocco is set to benefit from a huge influx of investment…

Tamuda Bay - between the city of Fnideq just outside the Spanish enclave of Ceuta down to the fishing town and beach resort of M’diq - is earmarked for 3.3bn Dirhams-worth of investment (over 200 million GBP) to include 5,000 hotel beds, two new 18-hole golf courses and upgrades to the existing three marinas.

Pockets of residential property are springing up along Tamuda Bay and offering some tough competition to the saturated Spanish coastline just a few kilometers across the Mediterranean.

Trevor Byrne, GEM Estates Moroccan Expert comments, “The Moroccan Government made the tactical move of giving this coastline an identity by dubbing it Tamuda Bay back in October 2006 and the clear intention is to provide an accessible yet affordable alternative to the Spanish Costas.

“Golfers and yacht owners are a prime target and planners hope to capture a share of the market from the longer established golf courses and marinas found in Southern Spain and indeed along the French Riviera.

”Aside from the more reliable climate, price is a driving factor with Tamuda Bay undercutting its rivals on residential property, a round of golf, berths, yacht maintenance, cost of living and so on. The formula for success is spot-on.”