Moroccan Real Estate Scandal: Bab Darna Group Accused of $40 Million Fraud
2 December 2019
The Bab Darna group is at the heart of a major real estate scam. There are already 855 victims nationwide for an amount of more than 400 million dirhams.
Real estate
Casablanca Notary Sentenced to 3 Years for Fraud and Breach of Trust
1 December 2019
A notary was sentenced by the Casablanca Court of Appeal to three years in prison, for breach of trust and fraud. In addition to this case, she is also being prosecuted in (…)
Morocco’s Real Estate Market Stagnates for Fourth Consecutive Year
30 November 2019
4th successive year of difficulty for the real estate sector in Morocco. The market is struggling to emerge from the crisis over the past four years despite the diversity of (…)
Moroccan Real Estate Scam Defrauds Over 200 Expatriates in Multimillion-Dirham Scheme
29 November 2019
The "Bab Darna" affair, a real real estate fraud scandal that led to the arrest on November 21 of Mohamed El Ouardi, president of the incriminated company, continues to make (…)
Moroccan Real Estate Scam: 800 Buyers Defrauded in Bab Darna Case
27 November 2019
After being held in pre-trial detention, the president of the real estate company Bab Darna will be transferred to the Oukacha prison. Mohamed Wardi is accused of having (…)
Moroccan Real Estate Tycoon Jailed in Massive Fraud Case Affecting 800 Homebuyers
25 November 2019
The decision of the Public Prosecutor at the Correctional Court of Aïn Sebaâ was unappealable. Given the criminal acts attributed to the Chairman and Chief Executive Officer of (…)
Emirati Developer Unveils $150 Million Mixed-Use Project on Rabat’s Atlantic Coast
25 November 2019
The Carrousel, this is the name of the multi-purpose complex that the Emirati group IMKAN in Abu Dhabi intends to build on the Rabat corniche facing the Atlantic Ocean.
CEO of Moroccan Real Estate Firm Arrested for Massive Fraud Scheme
24 November 2019
As he was about to leave the national territory, Mohamed El Ouardi was arrested and then placed in police custody at the central police station in Casablanca. It was these some (…)
Morocco Revises Tax Policy: Landlords to Pay Income Tax Only on Collected Rent
23 November 2019
Landlords’ Income Tax (IR) on rental income will now only be paid on rents received. This is one of the new measures just adopted by the tax authorities.
Morocco’s Housing Minister Urges Diaspora to Invest in Real Estate at Paris Expo
21 November 2019
Investing in housing was the call launched to Moroccans Residing Abroad (MREs) by Nouzha Bouchareb, Minister of National Land Use Planning, Urban Planning, Housing and City (…)