Real estate

Articles

• Moroccan Lawmaker Exposes Widespread Under-the-Table Payments in Social Housing Market
  26 May 2024, by Sylvanus

  The deputy of the parliamentary group of progress and socialism (PPS) in the House of Representatives, Loubna Sghiri, denounces real estate developers who have set up a generalized "black" system and defraud social housing applicants. She calls on the Minister of Territorial Planning, Urbanism, Housing and City Policy, Fatima Zahra Mansouri, to act.
  Under-the-table payments in social housing in Morocco are causing controversy. In a written question addressed to the Minister of Territorial (…)

• Airbnb Rentals in Morocco Hit by Burglary Spree Targeting Short-Term Stays
  27 May 2024, by Sylvanus

  In Morocco, burglars have targeted apartments they rented through the American platform Airbnb in various regions of the kingdom. They pose as Moroccans living abroad (MREs).
  Residences rented through Airbnb in Morocco have been the subject of several thefts in recent months. This is according to an alert issued by Moroccan landlords on the American vacation rental platform. According to them, these are fake customers who have burglarized small apartments, houses and villas they rented (…)

• Morocco Cracks Down on Real Estate Money Laundering as Suspicious Transactions Surge
  1 June 2024, by Said

  Suspicious real estate transactions in Tangier, Kenitra, Bouznika and Casablanca are alerting the National Financial Intelligence Authority (ANRF). Faced with the influx of "anonymous funds" in these cities, notaries, real estate agents and banking institutions have reported dubious practices, prompting the ANRF to seize the competent public prosecutor’s office.
  More than 5,000 suspicious transaction reports have been transmitted to the justice system, testifying to a growing concern (…)

• Morocco Launches National Effort to Combat Rising Real Estate Scams Targeting Expats
  1 June 2024, by Prince

  Faced with the growing number of fraud cases in real estate associations, Morocco has set up a national coordination to prevent citizens and thus reduce the number of victims.
  More and more Moroccans and Moroccans residing abroad (MREs) are victims of scams through real estate associations. To fight against this phenomenon that is gaining momentum, a national coordination has been set up, relays SNRT News. Most of the victims recount having paid large sums of money to these real estate (…)

• Morocco’s Real Estate Scams Surge: How Buyers Can Protect Themselves
  2 June 2024, by Prince

  Cases of real estate fraud are multiplying in Morocco. Many Moroccans wishing to acquire apartments continue to fall into the trap of unscrupulous real estate developers who receive large sums without delivering the housing or not respecting the delivery deadlines.
  Real estate developers receive from clients a total or partial payment of the prices of the buildings to be built, after signing an agreement with the latter, in which all the data of the land to accommodate the building (lot, (…)

• Rapper Gims Unveils $100 Million Luxury Villa Project in Marrakech
  6 June 2024, by Prince

  Congolese rapper Gims is preparing to launch a luxury real estate project called Sunset Village Private Residences in Marrakech.
  Carried out in partnership with Horizon Development, this ambitious project consists of the creation of a city of 121 luxury villas built on a 13-hectare site, located on the Amizmiz road, only ten minutes by car from the city center of Marrakech. The project will require an investment of one billion dirhams (about $100 million USD).
  Sunset Village Private (…)

• Morocco’s Real Estate Prices Rise Slightly as Transactions Plummet in Q1 2024
  8 June 2024, by Sylvanus

  In Morocco, while real estate prices have risen slightly, transactions have recorded a significant decline in the first quarter of 2024.
  In a note on the overall trend of the real estate market, Bank Al-Maghrib (BAM) and the National Agency for Land Conservation, Cadastre and Cartography (ANCFCC) indicate that the real estate asset price index (IPAI) recorded an increase of 0.8% in the first quarter of 2024, year-on-year. This development is the result of increases in residential prices (…)

• Moroccan Expats Fuel Summer Real Estate Boom as ’Marhaba’ Operation Begins
  11 June 2024, by Prince

  The arrival in Morocco this summer of Moroccans living abroad as part of the Marhaba Operation will contribute to boosting the real estate sector.
  The direct housing assistance program launched last January has been successful with Moroccans living abroad. 20% of the 64,000 housing assistance applications received were filed by Moroccans living abroad, said Mustapha Baitas, the government spokesman.
  "Moroccans living abroad, who are making a strong comeback in the real estate sector, (…)

• Wealthy Casablanca Real Estate Developer Arrested in Major Fraud Investigation
  11 June 2024, by Prince

  Elements of the National Brigade of the Judicial Police (BNPJ) arrested on Sunday in Casablanca a very wealthy businessman accused of real estate fraud.
  The defendant, a real estate developer, was apprehended on Sunday as he was leaving a cafe and taken to the Casablanca police headquarters, reports the daily Assabah. The businessman was the subject of an arrest warrant issued by the public prosecutor’s office for his alleged involvement in several real estate fraud cases, it is (…)

• Casablanca Real Estate Tycoon Arrested for $4 Million Check Fraud Scheme
  12 June 2024, by Prince

  Accused of real estate fraud for having issued a dozen checks without provision, Mohamed Jamal Lahjouji, director of the real estate company LC Building based in Casablanca, was arrested on Sunday by elements of the National Brigade of the Judicial Police.
  The defendant was the subject of a national arrest warrant for his alleged involvement in several cases of checks without provision for a total value of more than 40 million dirhams.
  Mohamed Jamal Lahjouji, entrepreneur and real (…)