Alkudia Smir (Kabila) - Apartments & Penthouses| Property for sale Tangiers

RESALE UNITS AVAILABLE IN PHASE 1 (AP1 & AP5)

Alkudia Smir (Alcudia Smir) is located on the Mediterranean coast, just 15 minutes from the Spanish enclave of Ceuta and its international airport.

The project is located near to Marina Smir and Marina Kabila and is 20km from Tetouan and 50 km from Tangier.  The pretty village of Chefchaouan with its stunning waterfalls is also located nearby.

ALCUDIA SMIR

The resort-Alcudia Smir

Alcudia Smir  is a flagship resort development close by Marina Smir being dubbed the new Puerto Banus, with stunning views across the Mediterranean to Spain on one side and the towering Atlas Mountains on the other. Set in the midst of landscaped gardens, with numerous swimming pools, leisure amenities and just a moment’s stroll from the beach, Alcudia Smir is truly a jewel in the crown of this golden coastline. Among the resort’s many features and amenities are:

1. Direct, private access to beach & beach bars
2. Beach front Promenade with walks to nearby towns Findiq, Marina Smir and M’Diq
3. Potential sports & Spa facilities on site
4. Picturesque swimming Pools set in tropical landscaped gardens
5. Private, exclusive gated resort with 24/7 security
6. Commercial Centre with shops, restaurants, bars & other facilities
7. 4 Star Hotel with restaurants & bars
8. Royal Cabo Negro Golf Course 30 mins away
9. New golf course being built adjacent to Alcudia Smir
10. Water Park 8 mins from resort

The apartment – Elegant built

All apartments on the first place of this development were fully reserved prior to launch at the end of last year. However, Fair Deal Morocco has managed to secure 20 units from that phase from a large investor exclusively for our clients. The developers have already confirmed that phase two of the project will be launched within the next two or three months with an increase of at least 30% on the original prices.

Therefore, investors purchasing any of these 20 units now will see an instant capital growth of around 15% on their investment. All apartments are designed and constructed to the highest specifications and feature fully fitted kitchens, air conditioning, kitchen hob, oven, washing machine & dishwasher, plus a tiled and Stucco finished bathroom.

The location-Morocco’s “Golden Mile”

Halfway between local town M’Diq and the Spanish enclave of Ceuta on a seemingly endless stretch of unspoiled beach lays Marina Smir, the most exclusive tourist region in the country. Morocco’s King Mohammed VI and the Saudi Royal Family have holiday homes here, in addition to many affluent families residing mainly in Middle East, France and Spain. Making the area surrounding Alcudia Smir sought after and superior.

The Developer

The developer of Alcudia Smir is a prestigious international developer with 30 years experience, for that reason they able to provide confidence to buyers. Additionally Alcudia Smir comes with a full bank certified guarantee.

Why Choose Alcudia Smir?

1. The close proximity to the Tangier Royal Golf Club and the Royal Golf Club of Cabo Negro, make it a popular region, also it is positioned in close distance to both Tetouan (currently being renovated, due to be completed by the end of 2007) and Tangier airports and hydrofoil ports in Tangiers.
2. ‘Ryanair’s commitment to establish up to 20 routes and carry close to one million passengers per annum on flights to Morocco’ – source: www.ryanair.com
3. The new Tetouan Free Port – similar to Emaar’s Dubai Marina project, scheduled for completion in 2007.
4. Major road building projects in the region, including upgrading Tangiers-Tetouan coastal motorway.
5. Marrakech, Agadir or Saidia do not have the uniqueness of quality, exclusivity, value for money and strategic location that Alcudia Smir can offer.

Morocco’s tourism industry is already booming, and is poised to really take off as the vision 2010 plans come to effect – within the landscape the area surrounding Alcudia Smir, known as the Golden Mile will undoubtedly stand out as the most exclusive area, most advantageously placed, and most profitable of all regions.

INVESTING IN MOROCCO

Thanks to the vision and ambition of King Mohammed VI to modernize his country and develop its tourist industry, Morocco is now rapidly emerging as a property market with huge potential. In particular, the Mediterranean coastline around Tetouan is primed to boom as a tourist destination over the next two to three years, resulting in significant capital growth and increased rental income for investors with the vision to act now. Our top ten reasons for investing in Morocco are:

1. Property Prices

Morocco is recognised as an emerging property market, a perfect time to invest as property prices are at a low and appear to rise as the Moroccan property market and supporting infrastructure develops. Finest, beach front apartments in elite resorts are available for a fraction of the cost of equivalent properties along the Spanish coast just 35km away. Average prices are currently around 50% to 70% cheaper than other Europe holiday property markets.

2. Massive Governmental and Foreign Investment

The Moroccan government is currently spending over $12.2 billion dollars developing Morocco’s tourism industry and its supporting infrastructure. From major new road and rail links and massive airport upgrades to modernise port facilities and a tunnel linking Morocco to Spain via the Straits of Gibraltar. King Mohammad VI and the UAE have created a huge project to invest massive funds into Morocco with the initial aim at increasing tourism. Other 
Foreign investment pouring into the country comes from major international developers.

3. Booming Tourism Industry.

In 2001 King Mohammed VI launched his ambitious Vision 2010 plan to bring 10 million tourists to Morocco every year. That year (2001) saw 2.5 million tourists, by 2003 that figure had risen to 4.3 million. In 2005 they hit 5.8 million and are estimated to reach 6.8 million by the end of 2006.

4. Investment Potential

Investors are currently experiencing excellent capital appreciation of anywhere between 15% and 35% p.a. on quality coastal properties depending on location. With beach front properties in exclusive Moroccan Mediterranean resorts available for around a third of equivalent Spanish property prices, the potential for capital growth is extensive. Good rental yields of around 6% p.a. are also currently being experienced, although these are expected to rise considerably as the tourist industry matures over the next two to three years.

5. Stable Economy.

Morocco is enjoying a stable economy, which has experienced continuous growth over the last 50 years. Current GDP per capita is growing at a sustainable 6.8%, aided by the Government’s liberal economic policy and important free trade agreements such as the Euro-Mediterranean agreement with the EU-Morocco Free Trade Agreement which came into force in January 2006.

6. Build Quality.

Unlike many emerging Eastern-European property markets, which have suffered from poor build quality problems, the construction standards in Morocco are excellent and comparable to those in Spain and France, where the bulk of Morocco‘s tourists and foreign property owners originate from.

7. Favourable Tax Laws

The Moroccan Government has removed all impediments to foreign land and property ownership and is courting property investors with extremely favourable tax laws. The first 5 years of rental income is completely exempt from tax. Capital gains tax is payable on a sliding scale:

1. 0% if sell after 10 years
2. 10% if you sell within 5-10 years
3. 20% if you sell within the first 5 years

There is no inheritance tax on properties passed on to family members. Proceeds of property sales can be fully repatriated.

8. Natural factors

Morocco is a country that really does offer an array of environments to explore. Whether it be, the unspoilt, peaceful coastlines, or the mountain and deserts, or even the many interesting towns that provide a westerner a taste of cultural diversity, Morocco is full of opportunities to be experienced by tourists. For potential investors it is reassuring to know that King Mohammad VI is making an effort to ensure that developments keep in harmony within the surroundings.

North Morocco also provides a more Mediterranean lifestyle than the rest of the country, especially Tangiers where it was once an official international city, formerly governed by Britain, Spain, Italy, Germany, America, Portugal and France. This is reflected in the area as many Spanish and French influences can be seen in everyday life.

9. Excellent Climates:

Not surprisingly, being just 35km away, the climate on Morocco’s Mediterranean coast is very similar to that of Spain’s with more than 300 days of sunshine. Temperatures are consistent throughout the year, rarely exceeding 35°C during the summer or falling below 10°C in the winter, when an average of 18°C is normal. And unlike Morocco’s southern Atlantic coast, it doesn't get cold at night.

10. Low cost of living:

The cost of living in Morocco has been likened to that of Spain in the 1980’s, but with everything the well heeled tourist would expect readily on hand, including the finest Arabic, Spanish and French cuisine.

Payment Terms

1. Reservation fee: € 3,000 (takes property off the market and secures the price)
2. Deposit: 10% (less initial reservation fee) within 1 month from date of reservation
3. Stages
   1. 18% in three months
1. 8% in December 2007
2. 8% in March 2008
3. Final stage: 56% on completion circa October 2008
4. A private contract will need to be signed for the 10% of the value of the apartment
5. Stamp duty, Lawyers fees, Notary fees, Land registry: Approximately 7% of purchase price

Development Description

Alcudia Smir is an exciting development by one of the world’s most established and respected developers, on Morocco’s most popular stretch of coastline for property investors, often called Morocco's golden mile. Set alongside several 4 & 5 star hotel complex’s in an already well established tourist resort. Alcudia Smir offers a fantastic opportunity to purchase Apartments, Penthouses and Townhouses at fantastic prices, at the earliest point of sale.

The Resort

The resort of Alcudia Smir itself is to be constructed on over half a million square meters of prime beachfront land, overlooking mile upon mile of beautiful sandy coastline.

There will be a commercial centre containing shops, restaurants and bars, which shall make Alcudia Smir a true hub of activity for this area and therefore an extremely good rental investment.

Due to the significant nature of this development, there shall be several phases of construction.

The first phase, known as AP-1, consists of 240 apartment units. All  of these units sold with an additional 100 reservations made within just 10 days, resulting in additional units needing to be released. We have today a limited number of Alkudia Smir resale units available.

Outstanding Investment

Based on our research and due diligence, and with its combination of outstanding location, established infrastructure and tourism in the surrounding area, bank guarantees, great value and flexible payment terms, we suggest that Alcudia Smir is the most outstanding investment proposal in the area.

We advise our clients to take advantage of this unique opportunity.

Alcudia Smir E-Brochure