Property Select

Every so often a new development comes along that matches the superlatives that often colour the language of estate agency; words such as stunning, incredible and unbeatable. In this case, the Al Houara Resort deserves such accolades, and much more.

The Developer

Currently under construction by Qatari Diar, the development arm of the Qatar Government. The $600 million Al Houara Resort is designed to be the most prestigious and stylish resort in Morocco. This world renowned development company have recently acquired the former barracks of the Household Cavalry in Chelsea and have ambitious developments in countries throughout the world. In Morocco they are intending to create a flagship resort that will confirm their status as the developers of the world's finest real estate projects.

For property investors, dealing with a company such as Qatari Diar, backed by the Government of Qatar, has many advantages. For a start there is virtually no prospect of them going bust! Furthermore, they are determined to build a project that shows the world what Qatar can do, so will spare no expense or effort to ensure this happens. The Al Houara Resort project is completely pre-financed and no client monies will be used in the construction - it will be place in an ESCROW account to safeguard buyers.

The Location

Situated on the magnificent stretch of coast that runs from Tangier to Asilah, the Al Houara Resort is certain to attract the most exclusive visitors to this privileged location. The project’s attractive design reflects the best of Moroccan architecture combined with a specification that incorporates all the comforts of 21st century living.

Investors should also note that we expect a major uplift in value when Tangier International Airport opens to more direct flights from the UK. A recent study estimated this capital uplift at around 30% for developments within 10 minutes travel time of an international airport.

Availability

There is a full range of properties available, from entry level one bedroom apartments through to luxurious six bedroom beach front palaces spread across the impressive 234 hectare site. (This equates to a build density of just 20% which is amongst the lowest in Morocco.)

Phase One – Beach: 52 beach villas, six beach palaces, 310 apartments

Villas

Four types are available. Priced between €2 and €3.5 million

Sizes: 500 – 735m2 (habitable) on large 2,000 - 3,500m2 plots with double garages

Palaces

€8.800.000 and upwards

Sizes: 1,774m2 on plots of 3,000m2

Apartments

One, two and three bedroomed - all with Atlantic views from €220,000

Sizes: Generously proportioned - all have allocated underground parking

Phase Two - Golf and Forest properties expected March/April 2008

Ownership Options

The developers are offering two ownership models:

Private: Full freehold to use as you wish. Or PURE, (Personal Use Rental Exchange) This innovative ownership model is offered in conjunction with Wyndham Worldwide's Registry Collection, the world's largest rental company with a database of over 9 million clients. Properties in this scheme are offered fully furnished and owners can exchange weeks in Al Houara for weeks in other Wyndham Resorts throughout the world.

Completion Date: August 2009

Finance and Payment Terms:

Option One:

€5,000 to reserve 20% down after 21 days (paid into an Escrow account) 30% at foundation level (after one year) 20% at roof stage 30% after two years on completion

Option Two:

€5,000 to reserve 20% down after 21 days (paid into an Escrow account) 10% after one year After this stage, financing is available from Moroccan Bank