Luxury Home Dream Turns Nightmare: Massive Real Estate Scam Exposed

– bySylvanus · 2 min read
Luxury Home Dream Turns Nightmare: Massive Real Estate Scam Exposed

Victims of a vast real estate fraud involving a developer and a notary, families residing in the Fatima 2 residence have filed a complaint with the King’s Prosecutor.

In this complaint, the residents of the Fatima 2 residence claim that the project was carried out on a plot of land called "Benacher", while it was planned to build the residence in the "Sidi Abdallah" subdivision, as stated in all the advertisements. They denounce a deception, as the site that houses the residence has no connection with the prestigious neighborhood announced, neither in terms of classification nor in terms of land value. They are also outraged by the fact that the prices per square meter - between 8,500 and 9,000 dirhams - set by the developer based on the rates practiced in Sidi Abdallah, do not reflect the reality, as the price of the "Benacher" land is estimated at half.

The deception did not stop there. "Just a few weeks after moving in, the residents noticed multiple construction defects: water infiltration, wall cracks, poor insulation, not to mention malfunctions in the electrical and sanitation networks," says Al Akhbar.

A notary is also in the sights of the residents. They accuse her of having forged the deed of sale. According to them, she failed in her duty of vigilance by omitting to verify the validity of the documents and the real situation of the land property. They thus designate her as an accomplice to this deception, in view of her legal responsibility in the control of the legitimacy of real estate transactions.