Introduction
Salama Valley is part of the Morocco-wide ‘Gardens of Fedala’ high-end resort concept. Experienced French property investment figure Philippe Deutsch has branded the developments to incorporate both a traditional Moroccan feel and Western standard facilities.
Once the country’s capital, Fez is one of the most historically significant cities in North Africa. It is still considered a centre of culture and learning, boasting the oldest university in the world and a vibrant medina – now a UNESCO World Heritage site.
As with other ‘Gardens of Fedala’ developments this deal is structured to maximise returns. A 7% rental guarantee for nine years will more than cover the 70% loan-to-value full-status finance payments.
All houses in Salama Valley are south facing and come with their own infinity-style plunge pool and private garden. The development will also feature superb on-site amenities including a 24-hour medical service.
Salama Valley is a high-quality, cash-positive, investment property development in a city that is attracting increasing attention. Getting in early will help you make the most of the high capital growth forecast for the country, and bring you solid returns.
Founded more than 1,200 years ago, Fez is one of the most historically significant cities in North Africa. Although it no longer holds its 11th century status as the largest city on the planet (it’s now the third biggest in Morocco, with a population of around a million), it still maintains its proud heritage as a centre of culture and learning and boasts, for example, the oldest university in the world. It is also a relaxed, friendly and aesthetically beautiful place.
It has been the capital of Morocco on several occasions, the most recent ending in 1912 under French colonial rule. Its charm and traditional feel are today recognised and protected, with Unesco declaring the city’s wonderfully preserved old medina, with its fascinating Moorish architecture and evocative atmosphere, a World Heritage Site.
Growing interest
The Telegraph recently ran a property article entitled “Forget Marrakech and focus on Fez”. The comparison is an interesting one. We happen to love Marrakech; it is a bustling and exciting city that has continuing investment potential. Fez has a more slow-paced and traditional feel, while its climate ensures that, unusually for Morocco, it is surrounded by fertile green valleys. These have helped it become one of the country’s major agricultural regions, and exports of produce such as olives and capers are a boon for the local economy.
The city’s property market is affordable, booming and reminiscent of Marrakech a few years ago. Marrakech has been and continues to be an excellent investment prospect and we see Fez heading a similar way.
Booming economy
As Morocco’s economy booms, so Fez is experiencing strong growth with thriving agricultural, artisan and industrial production. Local handicrafts, particularly leather, are world famous, while over half of the urban population are employed in the services sector, increasingly in the burgeoning tourism industry.
Fez is already the third largest tourism centre in Morocco and its status is growing further. An integral part of King Mohammed VI’s Vision 2010 plan, local authorities plan to double visitor numbers to a million over the next three years. To this end, they are constructing hotels, golf courses and tourist complexes, although they stress they are planning sensitively to preserve the city’s relaxed, traditional feel.
Aside from historical and natural attractions, such as fabulous geothermic springs and stunning vistas, thousands of international visitors are regularly drawn to the Fez World Sacred Music Festival, held annually since 1994. Performers such as Ravi Shankar and Youssou N’Dour, and a World Bank-sponsored discussion forum, ensure the city remains academically and culturally exciting and relevant.
Accessibility
Fez is internally accessible via railways, roads and air. Many European cities offer direct flights. While it has long been popular with French tourists and expats, recently opened Ryanair budget route from London mean its appeal is set to be discovered by a whole new group of visitors.