Despite inflation and successive crises in recent years, the Moroccan real estate sector has recovered in 2024. This, thanks in particular to the direct housing assistance program which has been a great success with Moroccans and the Moroccan diaspora.
The "Sunset Village Private Residences", Gims’ luxury real estate project in Marrakech, is progressing at a good pace, after the Congolese rapper obtained all the necessary authorizations.
An important development and widening project of Mohammed VI Avenue in Rabat is underway. To this end, the city hall has announced the expropriation of several plots of land located in the Youssoufia and Souissi districts. This project concerns private properties and land belonging to foreign states.
Morocco is reportedly seeking to acquire castles at affordable prices in Spain. Some 500 castles are for sale in the Iberian Peninsula, according to a recent report by the Spanish Association of Castle Friends.
The regional control teams of the Directorate General of Taxes (DGI) are investigating the requirement made to clients by large real estate developers to pay in cash during commercial transactions. The inspectors visited these companies operating mainly in Casablanca and Marrakech.
Leader in the construction of individual and luxurious villas in Bali (Indonesia), the company Magnitude Construction is setting up in Morocco and especially offers the French, lovers of sunny destinations, the possibility of living in villas, under milder climates, far from the greyness of the metropolis.
On the run for several years, a septuagenarian accused of fraud , as part of a real estate project in Tiznit, was arrested by the Agadir police brigade services. He is said to have swindled more than 500 people.
The residents and merchants of the Ocean district in Rabat are angry. And for good reason, the competent authorities have ordered them to clear the premises before the month of Ramadan, in view of the launch of major projects planned as part of the urban modernization of the capital.
In Lahraouyine, a commune located in the Casablanca-Settat region, attempts at land fraud are underway in view of the 2030 World Cup. Fraudsters are appropriating abandoned land, with the aim of receiving expropriation compensation.
At the end of January, the Pontoise (Val-d’Oise) criminal court sentenced in absentia the Moroccan Soufyène Mazouz, former real estate agent in Persan , and also the boss of the former Nestenn agency in Persan, for breach of trust and money laundering. After the criminal judgment, civil lawsuits should soon be opened.
Abdelouafi Laftit, the Minister of the Interior, has given firm instructions to the governors of the provinces and prefectures to initiate the procedures for ascertaining, imposing and collecting the tax on undeveloped urban land.
Substantial fines will be imposed on people engaged in "Self-construction" projects in case of late declarations of the cost of their work.