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In the May 2008 Issue of Property Investor News
Focus on Morocco
Morocco has been on the international property investment scene for a few years now, so it hardly qualifies as new anymore. But hardly a month seems to go by without a major new development (or even a whole new resort) being proposed. So in this article we will look at the progress that is taking place in this fast changing market.
Background & Economy
Over the last couple of years Morocco has continued its progress from being a relatively little-known African country towards becoming a modern Muslim nation on the fringes of Europe. Parliamentary elections were held in September 2007, resulting in a coalition government. However, real power still rests with the king, - Mohammed VI - who is executive head of state. The king is keen to see Morocco modernise, foster links with both Europe and the Arab world, attract foreign investment and increase employment, particularly in tourism.
The political situation is stable, although there are concerns amongst the international community about the freedom of the press, suppression of dissidents, human rights and the rise of Islamism in Morocco. In 2003 Casablanca suffered a major terrorist attack which killed 33 people and last year two suicide bombers blew themselves up outside US diplomatic offices in Casablanca. Some critics have accused the government of redrawing constituency boundaries in the 2007 elections - in order to prevent the Islamist Justice and Development Party securing overall control.
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