Le Jardin de Moulouya is a “social” housing complex located in Saïdia town, only one kilometer from the beach. This is a very clear example of the mechanics of the original Plan Azur 2010 infrastructures program from the Moroccan government; it required the master developer of the Mediterrania-Saïdia macro complex to contribute to the overall development of the region in return for the very favorable conditions they were awarded the main project. Spanish developer Fadesa started building works around 2006 and it attracted considerable interest from the Moroccan expatriate community parallel to local applicants with lower level income. There was also interest from mainstream International investors who saw a good opportunity for a fast return as prices were extremely low. Since then Fadesa was taken over by another Spanish developer, Martinsa at the time of the Spanish property crash and which inevitably lead to bankruptcy in 2008 with their Moroccan holdings gradually taken over by Addoha/Excelia.
King Mohammed VI has always been well aware of his country’s tourist potential. The Plan Azur 2010 and it’s follow up Plan Azur 2020 is a clear exponent of his dedication to the cause. We have seen considerable success and a vast improvement in general infrastructure around the major macro projects planned for the Atlantic and Mediterranean Coast. One such project is “Mediterrania-Saïdia” all 7MM Square Kilometres of it. Unfortunately the Global Financial Crisis and the unsettling events in the Arab World have slowed down its development. Nevertheless the announced improvement in the economy coupled with Morocco’s solid stability within the Arab World should shed some light into such wonderful prospects. For this blogger, he would like to see some further movements around the Al Hoceima area where the beaches and the environments are ripe for development. We have already seen the building of an excellent road from Nador/Saïdia (part of the Plan Azur) and its port and airport are a stone’s throw from the Southern Coast of Spain and of course, the Costa del Sol.