Morocco - Tunnel buzz

[propertyborders]

The recent excitement in Morocco and Spain about the potential tunnel linking Morocco Africa with Spain Europe is gaining more ground report UK based Moroccan property experts Property Borders.

In a recent interview with Karim Ghellab, Morocco's minister of transportation he stated "It's not easy to predict a date yet, but it is a project that will happen. It will completely change our world,". With many thousands of Moroccan's and tourists crossing the straits of Gibraltar every year on ferries "the tunnel makes sense" says Mustapha Mezouri a Moroccan director for Property Borders.

Property Borders are the UK's leading Moroccan run property agency in London. They sell a wide range of Moroccan property whether it is for a holiday home in Morocco, retirement home or for investment purposes.

The tunnel will have a positive effect for both countries, Europe and North Africa if it goes ahead. By 2010 Morocco expects to become part of the Euro-Med free trade zone and is working towards a close relation with the EU this is a significant development that will undoubtedly boost the Moroccan economy further still.

Mustapha Mezouri says FDI (Foreign Direct Investments) in Morocco is at a all time high from investors across the globe, France and Spain are a big part of this. The effects of Vision 2010, Morocco's drive to have 10 million tourist by 2010 and the planned tunnel are evident everywhere with the Tangier Med Port the biggest in north Africa and new motorways being constructed. Tangiers airport is being extended in preparation for the flood of low cost and charter carriers that will likely use it. The open skies agreement, signed recently with the EU, will open up the skies to allow no-frills/ low cost airlines to fly to Morocco.

Property Borders receive a large amount of enquiries about the Plan Azur resorts of which they are official agents. They recently released the first units of La Plage at Port Lixus an Exclusive beachfront condo hotel in Larache.

Port Lixus is the second of the Plan Azur resorts to be launched. The first 25 units of the condo hotel units at La Plage Port Lixus were sold out in two weeks and Property Borders have a list of clients waiting for the second release which is imminent.

Mustapha Mezouri comments "the dynamic King Mohammed VI has made northern Morocco a priority for development with Tangier at its heart and incentives for investors such as • 0% Annual property tax for the first 5 years • 0% tax on rental income for the first 5 years • 0% capital gains tax if profit is under £40K or after 10 years of ownership • 0% inheritance tax when a property passes to a family member • 100% repatriation of funds when you sell your property."

Tangier which was once seen as a seedy area has changed immensely over the past years. The highly capable mayor Mohamed Hassad has brought in plans to make this area a centre for tourism and business trade.

Property Borders have properties for sale in all areas of Morocco including the Exclusive La Baie Panoramique in Tangier the first phase of which is due for completion in December 2007.

So if you have tunnel vision about buying a property in Moorish Morocco why not give Property Borders the UK's leading Moroccan run property agency a call 0208 508 9905

Morocco properties, Morocco properties for sale, Moroccan real estate
Moroccan Hospitality With British Professionalism
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[propertyborders]

The recent crisis between the two countries has delayed contacts

2008 looks set to be a significant year for the project to build a railway tunnel under the Gibraltar Strait to link Spain and Morocco. Since 2006 experts have been preparing geological and technical reports which are due to be presented some time this year.

The schedule has been delayed slightly due to the diplomatic crisis between the two countries caused by the King and Queen of Spain’s visit to Ceuta and Melilla last year. As a result the meeting due to take place between the Spanish Development Minister, Magdalena álvarez, and the Moroccan Minister of Transport, Karim Ghellab, in December was postponed. Now, however, the Moroccan ambassador to Spain, Omar Azziman, has returned to Madrid and relations seem to be back to normal.

Salvador de la Encina, a Socialist member of the Spanish Congress and spokesperson for Infrastructure, explained that the technical side was no longer a problem and what concerned the authorities now was the financial issue. The project is expected to cost at minimum 5,000 million euros (some estimate it will be double) and last year both Spain and Morocco applied for aid from the European Union. Financial help has also been sought from other sources such as the World Bank, the European Investment Bank and the Arab Monetary Fund.

The idea of building a tunnel between Spain and Morocco dates back almost 30 years. In 1980 two state companies were created to get the plan off the ground, the SECEG in Spain and the SNED in Morocco, but it wasn’t until 1996 that the first technical report was produced.

In September 2006 an agreement was reached with a consortium formed by four firms - Typsa of Spain, Ingema of Morocco, Geodata of Italy and Lombardi of Switzerland - for the drawing up of the geological and geotechnical reports due to be presented this year.

“Child’s play” was how engineer Giovanni Lombardi described the Eurotunnel linking Britain and France compared with this ambitious scheme. The Italian, now in his eighties, said that the tunnel was “on the verge of the impossible”, but is determined to go ahead with what would be his most difficult project yet. He is well aware that he is unlikely to see it finished; the tunnel is expected to take some 20 years to build.

At present the project envisages a 38.7 kilometre double railway tunnel, of which 27.7 kilometres would be under the sea, between Punta Malabata in Morocco (near Tangier) and Punta Palomas in Spain (near Tarifa).

[investor27]

Property Borders, thanks for updating us with the status of this "tunnel", its been in discussion since 2005, this was a selling point of an agent i spoke to back in those early days & so was the low cost airlines...

You are very reputable agents so can you please advise on the progress on developments such as Paradise Beach & Golf Resort, Sunset Resort, Tanjah, Asilah Beach Resort. Also when are the low cost airlines going to commence flying into Northern Morocco from the UK?

Thanks

[manor park]

investor27

You are correct, the things that you mention are what most people who post on this forum are interested in, they would all see the tunnel as coming later.

It will be no good having a tunnel if the developments you mention have not been completed or it will be a white elephant.

MP