Morocco World Cup Stadium Project Drives Massive Spike in Local Land Prices

In addition to Benslimane’s reputation as a city with a pleasant environment and a temperate climate, the establishment of the future Grand Stade Hassan II is at the origin of the surge in land prices in the municipality. This project is generating a massive influx of investors and an upward pressure on prices. The land located around the stadium is recording a valuation increase of up to 150%. "Land prices have experienced a dizzying increase. Today, it is impossible to find land at a reasonable price in strategic areas. We are witnessing an unprecedented transformation of the real estate market in the province," explains a real estate advisor based in Benslimane to Médias24.

This vertiginous increase is also observed in areas that are not directly adjacent to the stadium. "The resistance of prices in Benslimane is remarkable. Even during real estate crises, no major correction has been recorded. The attractiveness of the region is strengthening with the dynamics of the grand stadium project," explains Aziz Asfif, director of a real estate agency. Agricultural land formerly sold between 200 and 400 dirhams/m² is now sold between 600 and 1,000 dirhams. "Some lots of one hectare are valued up to 10 million dirhams, making their acquisition almost impossible for small investors. Owners mainly sell lots of more than five hectares," Asfif specifies.

According to the manager, the announcement of Morocco’s co-organization of the World Cup with Spain and Portugal has accentuated the upward dynamics of the land market in Benslimane. Foreign investors have rushed to the province. "Among the new buyers, we find investors from the United Arab Emirates, Spain and other European countries. Many of them plan to develop tourist and hotel infrastructure," says Asfif, noting that "this effervescence only accentuates the scarcity of available land and propels prices to unprecedented levels".