Property in Morocco

Marrakech Riads - Les Jardins de Fedala

Les Jardins de Fedala is the latest five star riad development in the majestic city of Marrakech. Built to the highest standards by a respected French developer, this lovely site, set amid orange and olive groves, is only 15 minutes from the airport and 10 minutes from the historic medina. It boasts a clubhouse, health centre, bar, restaurant and communal pool.

Marrakech Riads

Purchase prices are 18% below market value, giving you instant locked-in equity. What’s more, you get a 7% net rental guarantee and 100% buyback guarantee, both for nine years and both backed by AXA Insurance for real peace of mind.


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Marrakech Riads - The Development

The resort will be located 15 minutes from Marrakech airport on a site of eight hectares. Orange trees, olive groves and rose gardens dot the area, giving a luxurious, sanctuary-like feel to the resort. The Atlas Mountains offer a majestic backdrop to the view from the site, with their white snow-capped peaks. Within a few minutes’ walk are various exciting amenities, including the famous spectacle centre, Chez Ali, offering the ‘Thousand and One Nights’ experience to visitors. The medina with its evocative aromas, eye-catching colours and exotic views is also just 10 minutes away.

Designed by a well-known local architect, all units will be based on a traditional Moroccan design with ceramic tiling and authentic wooden detailing. There will be a host of amenities on site, including a small boutique hotel with sauna, hammam and communal pool, a restaurant, bar, clubhouse and health centre offering 24-hour medical attention, including the services of a doctor and nurse where needed. This may be used by locals but Fedala Gardens residents may access it free of charge.

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Marrakech Riad Property Property in Marrakech Marrakech Riads

The resort comprises 96 units altogether. There are two types of units, all dotted around a spacious garden and pool area in the middle. Each house will come fully furnished in sophisticated and sympathetic fashion, down to cutlery and glassware.

  • The 72 two-bedroom, one-bathroom riads have 106m2 of floor space, an extremely generous 27m2 of garden space and a 47m2 patio. Prices from £130,000
  • The 24 three-bedroom, two-bathroom duplexes have 107m2 on the ground floor and 23m2 on the first floor. The garden, patio and terrace add a further 115m2 of living space. Prices from £170,000

The Deal

7% net p.a. rental guarantee for nine years

Every unit in Gardens of Fedala 1 comes with a 7% per annum net rental guarantee for nine years from the management company. The figure increases by 2% per annum. This is secure, backed by AXA, the insurance company, and means house owners receive a guaranteed income equivalent to some £9,000 a year, from which costs have already been deducted. If you take the 70% mortgage option, this income should cover most of your payments – these houses effectively fund themselves after purchase.

18% under market value

Units are on average 18% under the value of local comparables. This is a considerable discount and adds gravitas to an already fascinating deal. What’s more, you can pass on this discount at the point of sale to the next buyer!

70% loan-to-value financing

It is rare to get financing in Morocco. However, the developer has contacted a respected Moroccan bank, BMCE, which has agreed to provide our investors with 70% loan-to-value, status financing, with interest rates of just 5.75% (including the tax payable on interest). This makes this deal eminently affordable, with down payments of only £19,550 on properties of £130,000 in a country where cash purchases are commonplace.

Nine year 100% buyback guarantee

Such is the developer’s confidence in the success of this project that AXA is also insuring the price. If at any time within nine years of purchase you cannot sell your house for at least what you paid for it, they will pay the difference. We believe there is strong capital growth that should mean you make far more than the purchase price, but this guarantee means you can have absolute peace of mind.

Transferable guarantees

We believe that onward sale prospects are excellent due to the strong market in Marrakech. These prospects are further enhanced by the fact that if you sell at any time within nine years, all the above benefits, including rental and price guarantees, will pass to the new owner.

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Les Jardins de Fedala Jardins de Fedala Jardins de Fedala

Completion for this resort will be mid 2009. It is already attracting large amounts of interest due to its luxury feel yet affordable prices. The combination of its location and high-end finishing’s means the demand for these properties can be expected to remain very high in the future and strong onward sales can be anticipated.

 

 

 
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