Investment in Tangier

Since some years, the mobilization is general in the region of Tangier - Tetouan. His Majesty the King Mohamed VI has approved the carrying out of several large-scale projects in order to change Tangier and its region into a motive force of the national economy.

Many sites were opened. The aim is to create new economical and social dynamics, with the carrying out of the industrial area, the new Tangier - Med port and the reinforcement of the motorway network.

As far as tourism is concerned, numerous projects are in process, and aim for the growth of this sector in the region.

In Tangier, a large operation of the renovation of hotel infrastructures is in its final stage. The actual port of the city will soon be converted into a marina.

In short, it is to be pointed out that the local authorities together with the private operators combine their efforts to restore to Tangier its charm and attraction. We should admit that with the carrying out of all the scheduled projects, Tangier will have no reason to envy other tourist regions of the world.   

During the year 2006, the Investment Regional Centre of Tangier (CRI) approved more than 235 investments’ projects, with a total value of 25, 88 billion dirhams.

The Tourism sector represents 12% of the projects, and it actively takes part in the investments. Moreover, the Industry sector constitutes the main creator of jobs. “Out of 16,500 jobs, as regards the projects approved by the Investment Regional Centre, the Industrial sector should create about 40%, that is almost 8,000 jobs”

Tangier knows an infatuation for Tourist projects, namely the project of Tangier-Med, the reinforcement of the road / rail network, the project of the purification station as well as the restructuring of Tangier’s port.

It is to be noted that “the investments of the Gulf countries dope Tourism, which is the real motive force for development. This sector reaches 75% of the total of investments in Tangier. As a whole, the region will witness the carrying out of tourist projects for a total amount of more than 36 billion dirhams, for the last two years”  

Industry:
Tangier is considered as an important industrial centre at the national level. It takes up the third place, with 10% of the national added value, about 8% of the production and 14% of exports.

Tangier offers important opportunities for the development of the Industrial sector: 

  • Presence of free zones and tax incentives
  • Presence of international industrial groups, such as Yazaki, Opel, Lafarge, Automotive Wiring Systems, Polydesign Systems, Airbus, Dewhirst, etc…This is a good evidence for the vitality of the sector
  • Nearness to the international markets
  • Interesting prospects in terms of transports' infrastructures (roads, railway lines, highways, Tangier - Med port)
  • Development of new free zones
  • Existence of an industrial tradition and of national and local groups
  • Presence of an industrial infrastructure and of an industrial organization, developed by the private sector

Fishing and Aquaculture:
Tangier has important potentialities as far as fishing is concerned.
This sector generates a concomitant industrial activity. We count for 26 units of the fishing industry, specialized in the canned food, semi-canned food, salted food, freezing, shelling of shrimps, etc…

Regarding aquaculture, Tangier has several sites, which present important potentialities for the breeding of the bass, sea bream, turbot, oysters, shrimps, etc…

Tourism:
The historical, geographical and cultural characteristics are one of the main sources of wealth for this region.

Tangier offers considerable opportunities to ensure the prosperity of the Tourist sector:

  • Proximity to the transmitting markets
  • Diversity and wealth as regards the natural, cultural and historical potentialities
  • Transitory crossing for the Moroccans Resident abroad
  • Presence of multinationals (business tourism)
  • Continuous improvement of the regional tourist product

- Quality seaside developments’ projects: Cape Spartel, Ghandouri, the Lake, Dolphin Resort Ras Laflouka, etc...

- Development of patrimony and renovation of old buildings

- Placement of Renovotel funds, intended for the renovation of the existing hotels’ units

- Conversion of Tangier’s port into a marina and a cruising port

  • Liberalization of the air transport

 

Services:
In addition to the industrial and tourist sectors, Tangier has known the development of new activities. Therefore, and owing to its status of offshore financial market, which is unique of its kind in Morocco, Tangier has known the implantation of important offshore banks and holding.

The legal and tax systems are also favourable to foreign investors as they are allowed to repatriate freely their capitals.

Besides, the growth of industrial, food and tourist sectors, and the advent of Tangier - Med port, accompanied with the new industrial, logistic and commercial free zones offer an environment that is favourable to the creation of needs, in particular as far as services are concerned.

  • Call centres: there is a possibility of the establishment of call centres, of Spanish and French origin, owing to the mastery of the French language and especially the Spanish language by the “inhabitants” of the Region of Tangier-Tetouan.
  • The possibility of the development of the franchisees’ network (for example: fast food, clothing trade, etc...). This concept has a great potential of development, especially after the abolition of the customs duties with the European Union (2012) and with the United States (2010).
  • Consulting and training: the externalization of services, such as consultancy, training and recruitment, represents a niche, which is in full growth, especially for the region of Tangier - Tetouan.
  • TV and Radio: there is a possibility of setting up television and advertising studios for the leaders of the market of communication.

Tangier is teemed with tourist, cultural and economic projects: from Tangier-Med Port, to Sidi Ghandouri Bay, by passing through the artificial Lake.

Tangier City Centre:
The new business centre, with an investment of more than one billion dirhams, is located in the heart of Tangier’s Bay, and spreads over 3.4 hectares. Belonging to the National Company of the Development of Tangier Bay (SNABT), Tangier City Centre includes an integrated high standing tourist complex, and will have all kinds of tourist facilities: hotels, tourist residences, business residences, etc. According to its decision-makers, its design is planned in a way to be the natural extension of the coast.

Tangier City Centre will include (3) three hotels of a three-star to a five-star, with 1,100 beds, several buildings and high standing tourist and business residences. According to the SNABT, it is a promising project.

Tangier - Med Port:
Actually, there is a growing interest towards the Region of Ksar Sghir, and at about thirty kilometres from Tangier. This site will undergo between 2000 and 2012 socio-economic changes owing to the carrying out of the mega-project “Tangier-Med”, the biggest port in the North of Morocco.

Ghandouri Project:
It is located in Tangier Bay. This tourist area is a business opportunity for hotel investors and national and international property developers.

This site edges a coastal band of 1,200 meters on an exceptional site that overhangs the sea, offering a splendid view onto the Bay, the Straits and the Medina. It has been designed on the basis of an innovating cultural and seaside concept, taking into account the requirements and needs of a diversified tourism, combining business with pleasure.

Project of Motorways:
These last years were also marked by the carrying out of other infrastructures. We are referring here to the motorway program, which does not know any respite, and which is progressing at an elevated rhythm.

The dynamics of this region's development, with high potential, has been greatly noticed in the tourist sector, which has succeeded in draining off and attracting colossal investments and well-known operators.

The region of Tangier - Tetouan aspires to become the first seaside destination in the next eight years. The investments there amounted to 32 billions dirhams in 2006. Tourist and residential projects spread over a total surface area of 2,000 ha.  

In the lead of these investments, there are two seaside tourist projects managed by two important operators of the Gulf for a total investment of over 10 billions dirhams.

Tinja project, belonging to the Emirati group «Emaar» will be carried out on a surface area of 230 ha for an investment of 650 millions dollars. It is an up-market integrated tourist project comprising several hotels, golf courses, villas, leisure activities centres, a marina and shopping malls.

The same coastal area will accommodate a second tourist residential project that will be carried out by the Qatari group «Diar» for a total investment of 2.5 billions dirhams. It is scheduled to be built on a surface area of 230 ha, and will include two hotels, tourist residences, an 18 holes golf course and leisure activities spaces.

Recently, the «Gulf Finance House» (GFH) of Bahrain has chosen Cape Malabata for the carrying out of a tourist project, with a total investment of 550 millions dollars. Located on the sea front on a surface area of 127 ha, the project provides for an 18 holes golf course, hotels’ units, tourist residences and leisure activities spaces. The first detailed plans of the project should be presented soon for approval.

From the side of the Moroccan operators, the group «Chaâbi» has announced in 2006 an investment, of about 3 billions dirhams, to be carried out on the Atlantic Coast of Tangier. The project, which spreads on a surface area of 64 ha, includes three hotels and tourist residential complexes.

The group «Holmarcom» will carry out in Tangier an investment of 1.5 billions dirhams for the construction of an important tourist residential complex on a surface area of 60 ha. Besides a large hotel, the project provides for the construction of residential units, businesses, leisure activities spaces and even a cultural complex and a museum.

In the real estate sector, Tangier has known these last years a remarkable arrival of Spanish operators. The effect of Tangier - Med and the rarefaction of land in some regions of the south coast of the Iberian border have induced many Spanish groups to invest massively in Tangier.

«Fadesa» Group, who is already carrying out Tangier City Centre project (900 billions dirhams) has bought, last June, a land of 6,500 m2 in the town centre for the carrying out of up-market property projects.

Regarding the operator «Urbas», he has announced his involvement in the social housing segment, with the construction of 1,600 units on Ibn Batouta site.

On the other hand, the Spanish group «Renta» has, through its subsidiary Mixta Africa, launched into the Economic segment on the outskirts of Tangier. The prefabricated houses are already available at affordable prices for modest incomes.

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