FADESA plans to build a second upscale residential complex in Morocco (ES/MOR)

FADESA plans to build a luxury residential and tourist complex in one of Moroccos most exclusive zones of residential tourism, overlooking a beautiful one-kilometre stretch of beach. With an investment estimated at roughly €150 million, the project includes 2189 homes offering stunning views of the sea. There will be approximately 1656 residential flats, 354 tourist flats and 179 villas, all aimed primarily at the second home market.

Sprawling out over 55 hectares, the complex will be located on Moroccos Mediterranean coast between Tetuán and Ceuta, at a distance of 4 kilometres from the latter city. This new development project undertaken by FADESA in Morocco will also include a hotel, to be located in an extensive space of over 33,000 m² and a 55,000 m² area dotted with restaurants and places of entertainment.

FADESA in Morocco
After breaking into the Moroccan market in 2000, FADESA has become the leading Spanish company to forge its way in the construction of developments in this country.

Their first venture, a promotional high-rise development consisting of 1500 homes in Rabat, has proven to be a commercial success, with practically all of the homes having been sold. This ground-breaking development led to the construction of another similar project in the popular tourist destination of Agadir, Tafouk Residential Complex, comprising 1100 collective homes, over 50% of which have already been sold.

In addition to the construction of housing estates, FADESA is also involved in developing the countrys patrimony. The first step taken in this direction was the purchase of land in the heart of the financial district of Casablanca for the construction of a hotel. This 4-star Premium establishment, boasting 85 rooms, opened its doors on March 17th of this year under the name of Barceló Casablanca.

In 2003, FADESA was awarded a tender by the Moroccan government for the development of Mediterrania Saïdia, a large-scale tourist and residential complex located in the northern part of the country opposite the coast of Almería. This resort will include 3000 homes and 16,000 hotel beds, a marina, three golf courses and a shopping and service area. Construction on the Mediterránea Saïdia project is currently underway and moving along at a good pace. The first homes are expected to be ready next year and the same date is set for the opening of the first hotel in the complex.

With a solid reputation as one of the most important Spanish companies investing in Morocco, FADESA has plans for another large-scale residential and hotel project on the shores of the Bay of Tangiers. In this sense, FADESA and Anjoca will build Tangiers City Center, a complex with an estimated investment of €90 million and a projected construction time of five years. With its ultra-modern design, Tangiers City Center will hold 850 homes, two 4 or 5 star hotels offering some 1000 beds, an immense 10,161 m² office building, a commercial and leisure centre expanding 32,000 m² and a parking area occupying more than 56,000 m².

Source: FADESA

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