Dear all,

I am looking to invest in Morocco. My budget does not allow me to consider the Saidia resort but possibly the Paradise Beach & Golf resort near Tangier.

Does anybody know anything about this resort?
Has anybody seen it?
Do you think it is a safe investment (are the Moroccan authorities backing this project?)?
What risks are involved?
Have you put a deposit down and already committed by paying the 40% required? What kind of contractors have you received?
etc...any other information welcome

I had a look at various websites and find that the information available about this development is quite limited. Some plans have been released but it is hard to see where the blocks of flats will be and it looks quite amateurish in comparision to other developments. Generally, it seems that there is limited serious information about this development as yet in comparision to other developments in Morocco, which makes me worry...although the site looks good on the pictures I have seen.

Anybody out there knowledgeable about this development?!

Even the agents that I have contacted do not give very much away...

Please let me know your thoughts.

Ive purchased on the Asilah Phase 1 development, the agent im with has a share in this development, if you want to contact him let us know & i'll advise of contact details...

Hi there,

Thanks for your reply. Please let me know the contact details of your agent. Always best to contact companies that have been recommended.

Thanks again.

Hi there, call a person called Simon at Casablanca on 0870 4902967, let him know i gave you contact details, let us know how you get on.

quote:

Originally posted by applegate:
Dear all,

I am looking to invest in Morocco. My budget does not allow me to consider the Saidia resort but possibly the Paradise Beach & Golf resort near Tangier.

Any prudent person expects a water tight contract that should detail everything (for example EXACTLY what facilities will the site have, what standard will the finish be). Many people come unstuck. In Cape Verde lots of people have been sold property where the finish is appauling - leaks, bad decor, no lawns - just mud, even pools without water.

Ask for a standard contract now and then make your ammendments before parting with money. Any decent developer will agree to this.

Ive gone for Saidia but even thier contracts need tons of ammendments but despite what agents say the developer gave written assurance the £2000 holding fee is fully refundable if we pull - out. We are having the contract ammended until we are happy.

Also make sure if this smaller developer goes bust or fails what happens to your 40%.

Note that Emaar property (the worlds biggest developer)will launch 6 new sites, so it may be worth waiting.

I heard the Asilah and other small sites have not been given full planning permission.

I have a question,

Other than agent fee's, what approx monthly costs could I expect for other running costs?

I'm concerned that I may not be able to get regular rental on the property in it's first few years and am trying to work out my outgoings.

Any help would be appriciated.

thanks

Hello applegate

I have seen the Paradise Beach & golf Resort (PBGR) and it is quite a location. It faces the Atlantic ocean and is to be constructed on the slope of a hill. To the left of it is just unused land going along the stretch of the beach, which I am hoping will be developed on by hotels - building the area up to look more like Jumerah Beach. To the right of it is supposed to be some government zone with shops, businesses and leisure stuff - I can't remember all of it. The view from the hillside was beautiful, looking out to the Atlantic ocean with a glimpse of the beach. I say glimpse because it doesn't look very big from up there but believe me once you get down onto it it is another place altogether. The beach is however many km's of golden sand and it is lovely. The water is blue and inviting. I really liked the place and the only thing I kept thinking was as long as the government commits to its 2010 vision there should be no reason why the PBGR should not be a success.

Hi i was doing a lot of reading on this project and tried to find out the exact location. I am still considering investing. What I did read though was that there was a major fire in area near where they are going to build. Maybe wise to check out the insurance and precautions the developers have in place.

Hi i have also bought in paradise beach and golf resort.

best investment by far at the moment only ten mins from airport, i bought from property borders.

i will be going out prospecting in july - what are people's thoughts on agents fees (at the time of buying) to the tune of few thousand pounds?

i understand they already get a commission from the developer?

Hi Cityman, agent's fees are a rip-off. I've only see a few agent's that continue to add these on (usually dressed up as admininstraion fees or whatever). As far as I understand it all agent's get a commission from the Developer which is built into the sales price. If you go direct there isn't any reduction, the developer simply takes the commission amount and pays his internal staff.

Hi I've bought at Paradise Beach which is now sold out their is a new development called Atlantic Beach on the other side of the golf course drop me a line if you need any info