Morocco’s Cannabis Legalization Sparks Land Rush in Ketama, Doubling Prices

The price per hectare of land in Ketama and other municipalities where cannabis is grown has more than doubled in recent weeks, reports Assabah. It is now necessary to spend up to 500,000 DH to buy the hectare. This surge in price is explained by the enthusiasm of buyers, most of whom are investors from the Tangier, Tetouan, Casablanca and Kenitra regions. Among them, there are those who promise money to intermediaries to help them acquire land in other regions affected by the new draft law.

Some intermediaries sometimes use subterfuge to achieve their ends. They make landowners believe that the state will only authorize them to produce insignificant quantities of cannabis and that strict control will be deployed to seize and then destroy the surplus. Some landowners fall into their trap, while others play the card of firmness. Dozens of real estate transactions have already been concluded.