Buy Property for Sale in Blue Pearl Golf Resort, Saidia, Morocco

Blue Pearl Golf, Saidia, Morocco

The Blue Pearl Golf resort is a fantastic new development in a new growth area of Morocco at prices 25% below average. The development ticks all of the boxes for future growth, rentability, affordability and an opportunity well worth investigating, whether for profit or for pleasure!

One, two and three bedroom apartments are available from £74,361 (launch prices). There is an 8% three year rental guarantee and all apartments come fully furnished to a high standard with golf course views.

The ideal way to be sure that you’re making the right decision is to visit Saidia and see it for yourself. WE offer viewing trips to the area which offer you the chance to sample a little of Morocco with plenty of time to explore the 14 sq km Mediterrania Saidia Resort.

The trips cost £299/€299 p.p. but if you buy we will refund £200/€200 p.p. Please contact us for dates and availability. If you decide that Blue Pearl is not for you then we will happily refund any deposit paid - immediately.

The Blue Pearl Resort has just launched and there are a limited number of apartments available at a 10% discount. Should you wish to benefit from this we would advise you to place a fully refundable deposit as soon as possible to fix the price and reserve the property.

A SECURE INVESTMENT

• A government backed and sponsored scheme with the direct financial and personal involvement of the King of Morocco
• Overall site developer, ADDOHA, is the largest construction company in Morocco and has strong links to the ruling family and the elite business community.

IDYLLIC LOCATION

• Situated on a wide 6km long beach with white Mediterranean sand and crystal clear turquoise blue waters
• Two airports situated close by - with a flight time from the UK of around 3 hours
• Warm year round climate - with a minimum of 16ºC in the winter and long days of guaranteed summer sun
• The Saidia resort is surrounded by natural woodland and a bird reserve
• 15 year no build guarantee around the resort - locking in your investment and adding value

LUXURY 5 STAR RESORT

• Aimed at an affluent active holidaymaker/purchaser who appreciates the finer things and an active life.
• Only 40% of the total area is developed - the rest is green space or golf courses. This is a low rise low density resort, so there’s no danger of having your views ruined by new developments
• Eleven luxury hotels (with all the facilities they offer) will be located within the resort along the coast
• 1000 seat Conference Centre - to attract large sporting conferences and ensure a year round rental demand
• Commercial Centre situated near the Marina has already attracted a host of top European retail brands to establish a presence, including; Mango, Dior, Boss, Gucci, Armani and many others have committed to retail units in the commercial centre
• Many restaurants and bars, as well as the 17 beach clubs, within the resort. The famous Buddha Bar of Paris will be opening a restaurant/nightclub, plus two other nightclubs.
• The each development on the resort will have a dedicated security force to ensure complete safety for owners

WORLD CLASS FACILITIES

• Luxury Marina with berths for 840 yachts
• Spectacular sports facilities - including a football stadium, several gyms, water park, equestrian facilities, water sports centre and a tennis centre. These facilities combined with the agreeable year round climate will ensure a 12 month rental demand
• Three 18 hole golf courses cover an area exceeding 2 million m2 within the resort, all with clubhouses and full range of extra facilities

Property Technical Specifications

STRUCTURE
• Reinforced concrete beams and pillars and unidirectional framing.
• The foundation is constructed on continuous reinforced concrete slabs.
• The structure strictly complies with all applicable legislation and extensive checks on materials and use.

OUTER WALLS
• Made from double layered, waterproofed brick and a continuous covering of mortar on the exterior.

ROOF
• Ceramic tiled flooring of the solarium and shared roofs, waterproofed with thermal insulation.
• Moorish ceramic tiled roofs.

PARTITIONS
• Double ceramic brick partitions between houses.
• Ceramic brick interior partitions between rooms.
• Continuous mortar covering on walls and ceilings.
• Smooth plaster ceiling in kitchens and other areas, as required.

FLOORS
• Varnished stoneware ceramic interior floor tiles and skirting boards.
• Rustic finish ceramic floor tiles, skirting boards and steps in outdoor and communal areas.

TILING
• Kitchen walls tiled up to the ceiling with top quality white tiles and central decorative pattern.
• Bathroom and water closet walls tiled up to ceiling at bath and shower areas with top quality tiles.
• Matching tiles for skirting board and stucco on un-tiled wall areas.
• Fitted mirror included.

WINDOWS
• PVC double glazing (thermal insulating) and roller shutters on the living room, bedroom and kitchen windows.

INTERIOR CARPENTRY
• Front doors fitted with a safety lock.
• Interior doors varnished on both sides with lacquer finish and glass kitchen door.
• Fitted wardrobes with a similar exterior finish to the doors and interior coating and compartments.

SANITARY WARE AND PLUMBING
• Top quality, vitrified white porcelain sanitary ware and single lever chrome taps (by Grohe or equivalent manufacturer).
• Semi-recessed washbasin with surround cabinet and top.
• Cross-linked polyethylene water supply piping with thermal insulation for hot water pipes.
• Electric hot water boiler.

ELECTRICAL INSTALLATION
• Design and protection for lights and sockets in full compliance with current legislation and fitted with Siemens (or equivalent) mechanisms.

OTHER INSTALLATIONS
• Pre-installation of air-conditioning in living rooms and bedrooms (Multi-split unit).
• TV, radio and telephone wiring in living rooms and bedrooms.
• Door entry system telephone and access control.

OTHER
• Built-in safe in every house.
• Kitchens fitted with upper and lower units, stone worktop, stainless steel sink.
• Glass-ceramic hob, extractor fan and oven already fitted.
• Water points for washing machine.

Your Questions Answered

How do I secure a property ?
An initial holding deposit of €3,000 is all that is needed to secure a property for 30 days. This gives you time to visit the project or buy ‘site unseen’.
What is the payment structure for Blue Pearl Golf ?
A 30% deposit followed by the remaining 70% on completion (which can be financed by a mortgage)
Will I need a solicitor ?
It’s essential to engage a reputable, experienced local solicitor. We have established connections with a number of Moroccan solicitors who can advise on all aspects of property purchase.
Can I get a mortgage in Morocco?
Yes, mortgages are available for 70% of the property value. Maximum term 23 years and repayment only. Current rates from approx. 4.75%. Call for information on the best deals available.
Will I need a Moroccan bank account ?
Yes, your solicitor can arrange this for you. We will supply all the relevant forms and translations. We advise that all currency transactions are carried out through a currency broker to save you money.
Will I be able to rent out my property ?
Properties here will provide lucrative year-round rental potential because of the climate and outstanding facilities. The rental guarantee of 8% (based on purchase price less 20% tax) is paid to you directly and you can even allocate weeks for your own personal use. A management company will be appointed to run the development and they will also provide a full range of rental services.
What ongoing costs should I expect ?
Community fees have not yet been released but we expect them to be at the lower end of the scale for Saidia.
What is the Capital Gains Tax situation?
Capital Gains Tax (TPI) is 20% of the profit, with a minimum of 3% of the sale price. There is a double taxation treaty between the UK and Morocco to ensure that this is not paid in both countries. After 5 years the figure is reduced to 10% and after 10 years there is no capital gains tax to pay.
What if I want to re-sell before completion?
You can sell on to a 3rd party (once the initial 30% has been paid) with only a small administration fee.
What is the local currency?
Local currency in Morocco is the dirham (MAD) and the final purchase will be in this local currency. All figures used before this time are based on estimates of exchange rates at the time. If you would like advice on how to save money on currency transfers or fix the price you will pay please contact us.

Why Morocco is a great overseas investment

• Tax Regime sympathetic to investors - The Moroccan government has implemented a number of changes to the taxation regime to make investing in Moroccan property attractive to overseas buyers. Investors can benefit from exemption from rental income tax for five years, no Capital Gains Tax if the property is sold after ten years, and no inheritance tax. There is a double taxation treaty in place between the UK and Morocco, so where tax is payable you’ll only pay it once.

• Huge infrastructure improvements underway. The Americans are investing billions in new ports. New airports all around the country are being opened, all joined by a modern, wide motorway system. Plus a significant upgrade of the country’s rail system.

• An ‘open skies’ agreement has been signed and the Government guarantees world class airport upgrades by 2010. This opens the way for budget flights from the UK and Ireland. RyanAir have announced flights to begin by summer 2007 and will eventually fly to 20 destinations in Morocco, other low cost airlines such as Easyjet and Monarch will follow. At other destinations this has led to a driving down of flight prices and increasing local property prices by up to 40% in areas served by the airports.

• The celebs are moving in - The Beckhams, Jude Law, George Clooney and Brad Pitt have recently visited and bought - this is important, it puts Morocco in the media spotlight. In 2006 newspapers and magazine articles covering Morocco have increased dramatically and a recent survey by the London consultancy “Superbrands” identified Morocco as the second most desirable destination in the world today, whilst primelocation.com, the international property website records that enquiries for Morocco are up 400%.

• Exotic, yet close - Morocco is the closest “exotic”, “somewhere different” destination to the UK and Eire and still has great romantic allure. This combined with year-round sunshine makes for an unbeatable destination.

Click here for a plan of the entire resort and location of Blue Pearl Golf in Saidia

Click here for a site plan of the properties in the Blue Pearl Golf Resort

Click here for a video presentation of the project (MP4 Format (31Mb) – may take time to load)

Click here for an up-to-date overview of Property in Morocco

Location

Saidia, Morocco (Mediterranean Coast, North)

Construction Schedule

Construction will be completed mid-way through Summer 2011. Construction updates will be posted regularly on this website.

Facilities And Maintenance

• Entry restricted to authorised persons only, access control.
• Children’s and adult’s swimming pools.
• Social club.
• Paddle court.
• Extensive gardens and pathways.
• Children’s play area.
• Allocated parking.
• Easy access to many of the extensive local facilities provided by the resort

Payment Terms

A €3,000 reservation fee is required to secure a property.

30% of the property value is due 30 days after signing the contract.

70% of the property value is due on completion.

Financing this Development

Mortgages are available at a loan to value of up to 70%. These can be Moroccan or Overseas mortages and rates are available from 4.75% (dependent on circumstances). Please let us know if you would like to book a call with our Mortgage Adviser – they can answer all your questions and get you an initial mortgage quote.

About the Immediate Vicinity

Morocco - A familiar yet exotic destination

Morocco is already one of the biggest tourist destinations in the Middle East and North Africa, drawing 6 million visitors a year. Its exotic attractions, mystical souks and fabulous weather ensure that tourist spending makes a major contribution to the national economy but it is still seen by travel industry insiders as the “sleeping Giant” of Mediterranean tourism; exotic, warm, friendly and only three hours from the UK.
Morocco hopes to catapult itself into the premier league of Mediterranean tourist destinations and is optimistic that the massive infrastructure investment and government backed tourist development will eventually enable Morocco to compete with the best established destinations, such as Spain and Greece.

Vision 2010 and the “Plan Azur”

With this objective in mind, six new “touristic zones” (known as “Plan Azur” areas) were designated to regenerate areas with untapped touristic potential, with each area is to be developed by a large international developer. The overall plan, named “Vision 2010” is designed to increase tourism numbers from 2.25 million in 2003 to 10 million by 2010. The “Vision 2010” scheme has, so far, been extremely successful and is on target to reach its goal, which is great news for those considering a buy-to-let investment, as all these extra visitors will need somewhere to stay!
Of the six Plan Azur areas, the Saidia Resort was the first launched and, due to the King’s personal involvement in the project, the most prestigious. It’s brief is simple - to create a new Mediterranean destination that will attract high net worth individuals from all over Europe. With an enviable range of sporting facilities, a luxury Marina and the backing of a host of designer brands from Dior to Carrefour (who have invested in the commercial area), it looks on course to be something truly spectacular. Investors in this resort have already seen price increases of around 20% since the launch and with completion still three years away there is still considerable capital growth to be earned.

The benefits of investing in Plan Azur areas

Plan Azur areas enjoy a special planning status, so you don’t need to worry about “illegal builds” or bank guarantees. The plans are agreed by the central government and the personal involvement of the King in the project ensures guarantees are provided by the government in the event of problems with the developer.
Indeed, it is the close personal involvement of the King that provides the most graphic illustration of the level of political will behind these projects. The King has been a frequent visitor to the site, sometimes on a “flyover” other times on foot, carefully monitoring the progress. This is especially important as, whilst Morocco is a parliamentary democracy, the King still holds ultimate power and controls most actions of the government.
By investing in an area designated to receive substantial government investment this early stage, property purchasers will see the maximum return on investment. Plus, once low cost carriers begin flights to Oujda Airport the area will command significantly higher prices than at present; 20%-30% on past estimates.