Qatari Diar' launches USD-660Mn tourist project in Tangier

[investor27]

Qatari Diar' launches USD-660Mn tourist project in Tangier

Rabat, May 31 - "Qatari Diar" real estate investment company announced, here Thursday, the launch of Al Houara-Tanger tourist complex worth USD 660Mn.

Al Houara, which will be ready in 2011, is a 234ha tourism and mixed-use development including 2 luxury hotels, over 1,200 villas and apartments, and numerous on-site facilities including a world-class 18 holes golf course.

Speaking to the press about this project, Chief Executive Officer of Qatari Diar Real Estate Investment Company, Nasser Al Ansari, said that "Al Houara-Tanger" is an integrated tourist project that aims at the revitalization of tourist activity in Morocco and the creation of about 2.500 job opportunities.

In addition to Al Houara-Tanger project, "Qatari Diar" programmed several other projects in Marrakech Assilah and Agadir, west, as well as a marina in the Mediteranean coast, added Mr Al Ansari. "We are not in Morocco simply to build a tourist resort, we are here as a representative of Qatar to show that it acts as a genuine brotherly and friendly country," he went on to say.

The geographic position of Tangier characterized by its proximity to Europe and its strategic location, in addition to its infrastructures were decisive in choosing the northernmost city, underlined Mr. Al Ansari.

Qatari Diar is a government-backed real estate investment company with a capital of USD 24.8Bn. It was established in 2004 to support Qatar’s growing economy and to co-ordinate the country’s real estate development priorities.

 

[Sunnyshores]

I am very interested in this stretch of coastline and do see it as a potential winner, especially as the developments in the area seem to be aimed at 5* market.

I was invoved in Tanjah, but have recently withdrawn, as I was hoping to swap it for Tinjah on launch in June - but that was then delayed again, which is a nusiance, but I am still hearing prices will be comparable to Tanjah.

I understand Al Houara is between Tanjah and Tinjah - what do people think ? do you think this development will compare to Tinjah in terms of luxury, build quality etc.Is the developer as respected and proven as Emaar ? heard any rumours about development mix, prices?

Thoughts welcome, thanks

 

[investor27]

Hi, I believe Al Houara will be on par with Emaar's projects in terms of luxury, Qatari Diar are big players in the market place. With regards to prices im not sure if they will be comparable to Tanjah (Dreamworlds Development),i think we will be looking at a min of £100k for a 1 bed, however I maybe mistaken so please do not quote me on this figure.

As for this stretch or coast, give it 5 years & it will be great, you've got 5 developments in a row, starting with PBGR which has just last week had its building licence through. Some people see the "golden mile" on the med coast as the best place to buy, im some ways they are correct as the resorts are most established but as mentioned in 5 years this streach from Tangier Airport - Asilah will be very popular!

The other resorts that will def be popular are those on the Plan Azure, these currently being Saidia & Port Lixus, all the facilities you can think of under the sun will be on-site..

 

[Sunnyshores]

Thanks, investor27 thats interesting.

I was investing about £117k on a 3 bed penthouse on Tanjah, but for several reasons decided a 2 bed on Tinjah for about £100k would be better. I didnt mind this reduction in size as I thought the proven developer probably made up for that. If you're correct price-wise this equates to only a 1 bed on Al Houarah.

Tanjah appears reasonably priced (if the quality etc is to be believed) and I believe Tinja should be more expensive and it seems from my research that Emaar did want to be, but were persuaded the market wasnt there for this. Qatari Diar obviously believe it is. Perhaps the Tinja delay is due to waiting for these prices ?

What is the 5th resort is on this stretch? PBGR, Tinjah, Al Houara, Tanjah.

I agree that the best (safer, guaranteed) buys now are probably the Kings Plan resorts, they will have to be built on time and built well. But after 2010, say 2015, surely all resorts will stand or fall on their own merits. Or do you still think that tourists and then resales still prefer the Plan Azur resorts ?

Thanks for your thoughts.

 

[investor27]

Hi, Sotheby's look like they are marketing the Al Houara development, prices are shown below; looks like the Villa's start at over a Million (£),this makes the Villa's on Saidia very very resonable as they starting at aprox £162k, obviously the Villa's on Al Houara will be huge & some are literally beach front but can you really imagine paying over a Mill for a place in Morocco? if you can afford fair play, 3 bed penthouses over £400k... One bed apartments FROM £86,500 - Goodluck to those who can afford, for those people awaiting the release & now feel as though units are over budget & want to look at Saidia / Port Lixus do feel free to contact me, contact details at end of e-mail


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sunnyshores, i think prices on Emaar will be at the 100k mark for a 1 bed, especially after seeing the prices on Al Houara, as for the 5th development, sorry I am mistaken, there are 4 & you have them all covered.

Plan Azure Resorts, def a safer / cheaper investment for now, in the future re-sale market it will be down to personal preference & affordability, even the apartments on PBGR will appreciate more in value due to having Al Houara & Tinja on same stretch. As mentioned above, if your looking at Saidia / Port Lixus do contact me, (my e-mail address for those who do not know; [email protected])

Regards,

 

[Sunnyshores]

Thanks for finding that - incredibly expensive for such an unproven market, even if it is incredibly luxurious and fantastic quality.
Emaar must be rubbing their hands now and so glad they didnt lauch at the prices they were talking about. No doubt in my mind now that they will go for the Qatari Diar prices.

 

[investor27]

I def agree, the new development by Emaar as mentioned will be priced similar, I personally can't see anyone paying this kind of money for units on Al Houara & these prices are "release" prices, the resort is not going to be complete until possibly 2010 / 2011. Once those investors awaiting this release see prices they will more than likley look elsewhere, Saidia offers all the facilities yet prices seem far more resonable.

 

[Jesus of nazareth]

This is Arabs building for Arabs dude, don't get confused with the UK market, oil money will buy the units on Al Houara. When it's built it will be a millionaires playground. You might get a few posh and famous brits at Saidia but Tinja and Al Houara will have a truly international feel.
This stretch of Atlantic coast will offer more facilities than Saidia, including places to visit like Asilah & Tangier(hosting expo 2012) will be more upmarket than Saidia and you won't have the worry of holidaying next door to Algeria. In 8 or 9 years time no one will remember what plan azur was. But if you have to have plan azur wait until the South Atlantic resorts come online, at least you will be able to get a tan at Christmas. Tanjah & Paradise investors will be the reel winners out of all this, they will be the ones who will see the quickest and biggest capital growth from their investment.

(nurse Ratchet get the screens, it's time for my medication)

 

[Sunnyshores]

Jof N - I agree this stretch of coastline has huge potential.

But one of my reasons for not going with Tanjah was that it was pretty much just a development of appartments, luxurious maybe, but just appartments with an av price of (currently) £100k. I didnt think the overall impression would be of expensive luxurious living ie secluded private villas (like Tinja and obviuosly Qatar Diar).

Why do you think Tanjah and PB will be the real winners ? They are never going to be worth Emaar prices, even if they do share a stretch of coastline.

 

[Jesus of nazareth]

Sunnyshores, you will be surprised. We are at the development stage, every resort is distinct and isolated in everyone's minds. I have seen enough developments to know for example that when these resorts are all finished, an apartment outside but within walking distance from Tinja or Al Houara will be worth its weight in gold. These resorts will merge where they meet, making for some serious capital growth for Tanjah and Paradise, its not rocket science.

 

[Sunnyshores]

will they merge ? Are they not seperated by fences or gated ? Do they share the beaches or are beaches private to a development ? Will you be able to walk out of Tanjah (take your life in your hands crossing the road),stroll along the esplanade and into Tinja's restaurant or its Gucci boutique. Surely if its that exclusive riff raff wont be allowed in ?

In the caribbean you are very much restricted to the resort you are staying in and in some places you cant even dine in another resorts restaurants.

I'm not arguing, I just wondered if you knew.

Also, has PBGR sold out now?

 

[manor park]

Sunnyshores

lol I know what u mean about the caribbean resorts, I have reserved a penthouse at Tanjah and either way this must be good news, it confirms the area as up market and a place to be. I would like to think that if I wanted to spend money in their Gucci shop they would let me!

I think riff raff is a bit strong lol

 

[Sunnyshores]

Manor park - I'm sure you're not riff-raff! (and I have read your postings on several boards with interest)

I know several Tanjah investors and in the main they are experienced purchasers. As I said until very recently I did have a penthouse there and it wasnt for any particular negative reason that I withdraw - I was led to believe I could have a Tinja property for much the same money.

I think you're right, Al Houara and presumably now Tinjas prices can only be good news for Tanjah.

Anyone know about PBGR - where's an agent when you need one??

 

[Jesus of nazareth]

will they merge ? Are they not seperated by fences or gated ? Do they share the beaches or are beaches private to a development ? Will you be able to walk out of Tanjah (take your life in your hands crossing the road),stroll along the esplanade and into Tinja's restaurant or its Gucci boutique. Surely if its that exclusive riff raff wont be allowed in ?

In the caribbean you are very much restricted to the resort you are staying in and in some places you cant even dine in another resorts restaurants.

I'm not arguing, I just wondered if you knew.

Also, has PBGR sold out now?

It wail be different to the Caribbean, all beaches on this northern Atlantic strip are public by law and resort facilities i.e. hotels and commercial areas are open to non residents. The only people being hoofed out will be the Moroccan street beggars. If you want to blend in completely make sure you take a new Aston martin or a big yacht.

 

[manor park]

Sunnyshores

I find it hard to believe that you have not been inundated with PM's and emails from agents with the amount that hover around these forums!

 

[Sunnyshores]

Manor park, perhaps they're busy working

For ALL those agents that didnt approach me, thank you! I have now found PBGR availability from my original trusty Tanjah source.

J of N - public beaches mean a certain integration will have to take place then - thats good.

So now I wont be spending my millions at Tinja who has brought on PBGR and why did you prefer it to Tanjha?

 

[manor park]

Sunnyshores

Have the prices increased on PBGR as the BL is in or did you get something at the original price?

 

[Sunnyshores]

not sure - 2 bed penthouse £87,867, 3 bed penthouse £109,834

 

[investor27]

Hi, the prices did increase by 10% a couple of weeks ago when BL was announched, and the prices stated by above are correct, as for availability, there are units available but becuase BL is now in place more & more people are finding the confidence to take the step forward. As for comparing PBGR to Tanjah, i think most people who bought had budget constraints & prior to these prices increases PBGR did seem like better value for money.

 

[investor27]

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