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Salama Valley, Fez, Morocco

Discussion in 'Morocco Property' started by opus, Jun 1, 2007.

  1. opus

    opus New Member

    Hello all.

    I'm thinking about investing in Salama Valley, Fez, Morocco, but prefer to deal directly with developers. Does anyone know who the developer is.

    All feedback appreciated.

    Thanks

    Opus
     
  2. sahara

    sahara New Member

  3. investor27

    investor27 New Member

    Sahara, can you please post further information on the forum with regards to the developer, it will assist other members should they be looking at the same development, thanks
     
  4. sahara

    sahara New Member

    the developer for this is Maroc Asur Residence. This is the morrocon arm of a French company called Residence Pasteur.The managing director is a gentleman called Philippe Deutch. i dont think you will be able to deal direct with the deveoper as he has given all of the units on this project to one company to sell.I work in partnership with this company and would love to have a chat with you if you are interested in this.This is the only project in fez that has been given planning for buiding on the hills and in the whole of fez only 3 projects have been given planning.
    I believe i can offer you a good deal on this .Give me a call 07764 300185
     
  5. manor park

    manor park New Member

    Is there a website that has information?
     
  6. Sunnyshores

    Sunnyshores New Member

    I've also been looking at this development (also called slopes of Fedela) and there is not just one UK agent selling them. (I am not an agent

    I've been looking at riads in Marrakesh and latterly Fes and a small riad once restored goes for :
    Marrakesh £170k
    Fes £30k + £30k restoration = £60k
    price difference £90k = Fes about 1/3rd of the price.

    Why then is this new build development in Fes not 1/3rd of the price of a new build in Marrakesh?

    Slopes of Fedela E155000/£105,000
    Marrakesh equivalent £315,000 - this buys a 3 bed 3 bath house in the most prestigious development in Marrakesh - Domaine de L’Akhdar. (I'm not an agent and they are all sold). Elsewhere a luxury 2 bed can be found for £250,000.

    I'm not putting this development down, it does look really nice, experienced developer etc and I do believe Fes has great potential - my point is why is it so expensive firstly in comparison to restored riads in the Medina (£60k) and
    secondly in comparison to Marrakesh, which is a much more developed and proven market?

    Thanks
     
  7. investor27

    investor27 New Member

    More Info on development in Fez

    Ok, more info, 2 bed Villa's starting at £104k, im unable to post plans etc so interested parties feel free to ask & i'll e-mail you further info, brief description as follows:

    Each Villa is a peace and haven of peace. Having a terrace very opening largely on the valley to profile of a fairy-like sight and an individual swimming pool, they can receive four people in two individual rooms. The lawns are soft and deep, the coloured and green solid masses of flowers. KSAR AHMAR is the privileged center of life. You will be able to obtain a massage with oil of argan, you to restore or to plunge in the endless swimming pool.
    Animation discrete of an accessible personnel, heir to a culture or the direction of the reception is door has its perfection, offers to the residents services which are the prerogative of Morocco.
    Of security, a discrete medical personnel, is has your provision 24h/24 to bring this peace of spirit to you has which you have right. Entirely closed of walls and security by a guarding day and night, 365 days per annum, SALAMA VALLEY is your next address with the kingdom of Morocco.

    UNIQUE PAYMENT PLAN:

    20% DEPOSIT ON INITIAL PURCHASE
    20% FINANCED INTEREST FREE OVER 12 MONTHS
    60% MORTGAGE ON COMPLETION
     
  8. Sunnyshores

    Sunnyshores New Member

    thank you for the further information. You seem to be suggesting it is unique for Fes and that is why it is so much more expensive (+£40k) than a restored riad in the Medina - fine, I can accept an increase for that - especially as this deal does have a private plunge pool, small garden area and I beleive is fully furnished.

    But, why is it pretty much comparable to properties in Marrakesh and not considerably cheaper as I believe it should be?
     
  9. sahara

    sahara New Member


    Are we talking about the same project .Has it got a buyback gaurantee and a garanteed rental of 7% for nine years.
    The finance is 30% deposit and 70% mortgage?
     
  10. Sunnyshores

    Sunnyshores New Member

    sahara and investor 27 - yes you do seem to be talking about the same development - Salama Valley also called slopes de Fedala (by the company who did Jardins de Fedela).

    Are you able to explain the high price as per my postings above?
     
  11. sahara

    sahara New Member

    ok i not going to go on too long but as you say you can get a renovated riad in the medina for for 60-70k.
    From what i understand riads do not often have gardens they have a courtyard in the middle.Riads do not come with plunge pools.Riads do not come fully furnished down to cutlery.
    Riads do not come with a gaurantee of an income for 9 years.With a riad you do not have on site medical care free og charge.Riads do not come with the gaurantee that if the market dips you have a buyer that will at least pay you what you paid for it.Riads do not come with free flights for 2 people for 3 years and a gift of 900 euros to spend on site.
    I hope this goes some way to explaning the price differance.
     
  12. Sunnyshores

    Sunnyshores New Member

    Sahara - OK thanks.

    I was not comparing riads with new builds. I was comparing the price differential
    between riads in Marrakesh and riads in Fes (one third) and then looking for the the same price differential between new build in Fes and new build in Marrakesh.

    As I said I can acept a difference between riad prices and new build luxury prices (although £40k may be pushing it a bit and riads are in limited supply and have proved to be much more desireable that new builds in the Marrakesh market).

    What I was asking is - Why the new build price in Fes is not significantly cheaper than a new build in Marrakesh?
     
  13. sahara

    sahara New Member

    The answer to this is i do not Know, but on the same scale you could ask why is a villa in saidia an unknown destination selling for the same price as villas in marrakesh. This argument could be the same for all new build that are being offered in various unknown destinations across morocco.
    some.
     
  14. Sunnyshores

    Sunnyshores New Member

    OK - hadnt considered that. And in Saida not only is the market unproven, there actually is NO market or toursits or resales at present.
    Thanks for the discussion - as I said I'm not arguing against the development, it does look very nice and certainly has some attractive financial features all guaranteed.
     
  15. Sunnyshores

    Sunnyshores New Member

    For completeness sake - this development has now sold out. What do I know!!
     
  16. Essex34UK

    Essex34UK New Member

    I've just managed to secure a reservation at Salama Valley. Is there anyone else on here who has actually bought there too ?
     
  17. josephaedrus

    josephaedrus New Member

    Buying at Salama

    I am considering purchasing at Salama too. Has anyone found any useful information either way.

    I do think the property seems expecsive.
    What happens if it's not built on time?
    What happens if Morroco goes through politicial upheaval. Is the insurance still valid for a flattened building?

    thanks in advance for any advice.
     
  18. investor27

    investor27 New Member

    Hi, Im 99.9% sure this development is sold out, if anyone know's differemtly do contribute...
     
  19. josephaedrus

    josephaedrus New Member

    Salama Valley

    I have a friend who has invested and wants me to co-invest. Hence my question.

    Any advice. To me it feels like a beach property no-where near the coast. Surely if you visit Fez you want the husstle and history of the town?
     
  20. wanata

    wanata New Member

    Fes developers

    Does anybody know of any major developers in Fes? Please let me know.
     
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