Former Moroccan Royal Estate in France Listed for Record $180 Million

Who will be able to buy the Gretz-Armainvilliers castle? Previously, it had been put up for sale for 425 million euros. For almost a year now, the former property of the King of Morocco has been offered at the "more reasonable" price of 180 million euros. "It is still the most expensive real estate in France. And then, on 1,100 ha, there is no equivalent," assures Brigitte Kahan, the commercial agent in charge of the transfer, on behalf of the very media-savvy Agence Kretz, whose family saga is broadcast in the form of a series on Netflix and TMC under the title "L’Agence".

"The Austrian big winner of the 243 million euro jackpot at the EuroMillions draw a few days ago could now afford this madness," estimates Le Parisien. According to Brigitte Kahan, its astronomical price and its maintenance costs amounting to several million euros per year do not constitute an obstacle to the sale. "We have different people who are interested, she specifies. Investors for luxury hotels or concepts combining ecology and luxury. This is where the ideas concerning the place are heading. There are two or three serious leads that are progressing. The property has a gigantic potential. But for now, nothing is signed."

This Anglo-Norman style manor was built in 1884 by the Rothschild family in place of the old 17th century building, on an area of 1000 hectares of land. The estate extends over two other villages, Tournan-en-Brie and Favières, on the edge of an artificial lake one kilometer long. In the 1990s, the former King of Morocco, Hassan II, had fallen under the charm of this large residence. He became the owner in 1984 and transformed it into a resplendent palace. "It is a castle out of time. I also had the chance to visit it. It’s impressive. You have the impression of being elsewhere than in the Île-de-France region. It is a unique place. It also emanates a lot of fantasies," marvels Laurent Gautier, mayor of Tournan.

After the work, the sovereign never officially visited his castle of Gretz-Armainvilliers until his death in 1999. In 2008, his son and successor Mohammed VI sold it for 200 million euros to Essam Janahi, a Bahraini businessman. If Brigitte Kahan manages to find a buyer for the castle, the Seine-et-Marne department could - in terms of transfer duties - pocket the modest sum of nine million euros.