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Moroccan Expats’ Dream Resort Investment Stalls After Association President’s Death

– byKamal · 1 min read
Moroccan Expats' Dream Resort Investment Stalls After Association President's Death

Moroccans Residing Abroad (MREs), members of a residential association in Sidi Rahal, were surprised by the stoppage of construction work on a seaside resort in which they had invested all their investments. The death of the President of the Association has postponed the work to an undetermined date.

In order to elect a new President of the Association, an Extraordinary General Assembly of the members of this structure is mandatory. The delay in carrying out this requirement has led to the freezing of the Association’s activities and, consequently, the cessation of payments to the service companies.

Worse, according to Assabah, the members of the Office do not hesitate to speculate, by proceeding with the double sale of real estate, refusing to hold the General Assembly that would allow the completion of the construction site. These practices have prompted MREs to file several complaints with the courts for embezzlement.

According to the members, the members of the Office avoid holding the General Assembly and paying the suppliers, in order to trigger the judicial liquidation of the Association and the auction sale of the resort.

Category: Morocco
Keywords:
Sidi Rahal Scam Operation Marhaba

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