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The Al Houara Resort - The Ultimate in Moroccan Style [ SOLD ]  Region: Tangier Province  Price: EUR € 249 000  Bedrooms: 3  Property Type: Apartment  Development State: Off Plan

Features: Pool, Parking, Terrace / Deck Amenities: Golf Course, Shops, Bars & Restaurants, In beach resort, 24 Hour security, Gymnasium, Sea View, In Spa Resort, By the Sea, Garage Description:
Every so often a development comes along that matches the superlatives that often colour the language of estate agency; words such as majestic, incredible and unbeatable. In this case, the Al Houara Resort rightly 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 opulent and stylish resort in the whole of Morocco. This globally renowned development company have recently purchased the former barracks of the Household Cavalry in Chelsea and have prestigious developments in countries throughout the world. In Morocco they are aiming to create a flagship resort that will confirm their reputation as the developers of the world's finest real estate projects.

For the property investor dealing with a company such as Qatari Diar, backed by the Government of Qatar, has many advantages. For a start there is absolutely no prospect of them going bust! Additionally, they are determined to create a project that shows the world what Qatar can do, so will spare no expense 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 all be deposited in an ESCROW account to safeguard buyers.


The Location

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

Property investors should also note that we expect a significant 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 ten minutes travel time of an international airport.


Availability

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

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


Villas

Four types priced between €2 and €3.5 million
Sizes: 500 – 735m2 (habitable) on large 2,000 - 3,500m2 plots all with double garages


Palaces

€8.800.000 and upward
Sizes: 1,774m2 on plots of 3,000m2


Golf Apartments

Three bedrooms - all with clear Atlantic views from €249,000 (Euros)
Size: Generously proportioned - all have allocated underground parking


Phase II - 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 (to be paid into an Escrow account)
30% at foundation (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 financing is available from Moroccan Bank

Development Features:
• 20 minutes from Tangier city centre
• 10 minutes from Tangier International Airport
• 2.5km of beachfront
• 3 luxury hotels - Kempinski and Hyatt already confirmed
• Moroccan Spa
• Exclusive beach club
• Retail centre with designer boutiques
• Large forested area
• 18-hole VJ Singh designed, signature golf course
• Equestrian centre
• Al Houara Kasbah
• Sports and leisure facilities
• Conference centre
• Entertainment centre

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