Morocco is attracting the luxury investor | City A.M.

Morocco is attracting the luxury investor | City A.M.: "IT’s hot, it’s exotic and beautiful. No wonder Morocco, long on the traveller’s radar, is rapidly becoming the place that the beautiful people are going to buy their second homes. Says Alistair Emery, CEO of developer Ajensa, which is nearing completion of the Baglioni resort near Marrakech: “In the last few years as people have tightened their belts, Morocco has benefited because people have chosen not to go too far away. It’s on the doorstep of Europe, has constant climate and is the closest place that is something very different indeed.”
According to the Moroccan Tourist Board’s annual report, tourism numbers have risen 10 per cent in the last year. Inevitably, property investment follows tourism, both main objectives of the new king Mohammed VI when he took over at the end of the 1990s. Infrastructure, such as roads and sanitation, were improved, and effort was put into attracting top-level hotels. The reopenings of the super decadent La Mamounia, and the Royal Mansour, the king’s hotel, were felt round the world. “These two upped the level of the type of client going there,” says Emery. A Four Seasons with an epic spa and a Mandarin Oriental are due to open early next year, too."

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