Real Estate Fraud Case in Morocco Targets Expatriates, Court Seizes Developer’s Assets

A real estate developer in Tiznit failed to fulfill his commitments to the beneficiaries of social housing, after having received all the fees. The latter filed a complaint with the court of first instance for fraud.

According to Al Massae, a dispute with the construction company led to the suspension of the project. The latter demanded the termination of the contract with the real estate development company, and requested damages, following the accumulated losses.

The non-compliance of the work has weakened the finances of the company, leaving the company unable to honor its commitments to the beneficiaries of social housing, although the latter had paid all the payments.

The daily adds that several people have been victims of fraud by real estate development companies in Tiznit, especially Moroccan nationals abroad, who have seen their investments evaporate in real estate projects that have not been finalized.