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Marrakech Investor Weekend Diary
“Riads of the Medina”
Thursday 17th July 2008
The 6.45am easyJet flight from London Gatwick to Marrakech was all the more pleasant sitting in a great seat with lots of legroom with the aid of “speedy boarding plus”. The flight was full and the cabin staff told me that this is the same all year round. The majority of my fellow passengers were generally middle-aged, retired or well-off professionals. Just 3 hours later, after a large bacon roll and coffee, we arrived in what can only be described as “another world.” I was attending the Investor Weekend as a buyer which was a pleasant change and an opportunity to observe events from the clients' perspective.
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Menara Airport, Marrakech |
The new airport terminal, which has only been open for 5 months, was impressive and a visible sign of the huge infrastructure investment in the city. Henry Powell-Jones met us at the airport to take us to the hotel. Several hotels we tried to book were full. The first hotel could only manage one night, but provided a very pleasant refuge from the heat of the day.
Karon and Rob from the sales team arrived later and we all enjoyed a particularly nice dinner in the Café de la Poste.
The second highlight of the evening was forging a great relationship with our taxi driver Mohammed, who had the distinction of being the only taxi driver in Marrakech with one leg - and he was very proud of the fact. A fantastic man, with a very sharp sense of humour and great English who will, no doubt, now join our regular team in Marrakech!
Friday 18th July 2008
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Al Fnaa Square, Marrakech |
After a late start, we moved to the new hotel to await the arrival of the investor group. The Kasbah Royal Mirage was like something out of Arabian Nights and the only thing missing was the flying carpet!
Investors arrived in the afternoon on Ryanair and Royal Air Moroc and transferred to the hotel before the evening began with a visit to the famous Al Fnaa square before dinner.
The restaurant was superb. The fascinating thing about Marrakech is that you never know what is behind that door at the end of a very narrow alley way. In this case, a restaurant which would not be out of place in London or Paris, with elaborate décor and mouth watering food.
Saturday 19th July 2008
The morning was taken up with presentations and briefings on the investment opportunity. Henry gave a powerful talk on the “top-down” approach to Jet-to-Let and why Jet-to-Let Investments has targeted Marrakech and in particular the geographical and cultural centre – the Medina.
In the afternoon we visited the “show Riad” and a few other Riads we have sourced.
In the evening we had dinner on the roof terrace of the hotel and a lively evening with musicians and the obligatory belly dancer.
Sunday 18th July 2008
Most investors were up and out very early on Sunday for return flights to the UK, Ireland and France. They were a great group of people and the mix of investment experience and nationalities worked very well.
We jumped on an evening flight and landed in Manchester just after midnight.
All in all a very successful weekend with 100% of those attending wishing to invest, including myself!
To summarise the investment opportunity:
We will source a Riad (traditionally-built Moroccan house) for you in the heart of historic Marrakech. The property will then be fully restored, furnished and rented out on your behalf. A nine year rental guarantee of 7% per annum is provided by a management company which is backed by an insurance policy by Zurich. Also included in the package is two free flights a year and two weeks personal usage. Each Riad will become part of a network served by one management company which will be in charge of marketing, renting and maintaining the property.
9-year extendable index-linked rental guarantee of 7%
A strong feature of this investment is the index-linked guaranteed rental over nine years, which is extendable in 3 year increments up to 15 years. The index-linking of the rental revenue ensures that your rental income increases in line with a benchmark inflation rate of 2%. Having no voids and secure, inflation proof cash flow throughout the investment period is extremely positive, ensuring a low risk, leveraged capital appreciation strategy.
Prices
Each Riad is priced at €250,000. This represents extremely good value for a three bedroom property in the Medina. Demand is high from British, French and Arab nationals. The broad market, with limited supply, will ensure a strong exit strategy in the future.
Free furniture pack worth up to €10,000
For most investment properties around the world you have to factor in the cost of furniture, furnishings and sometimes electrical or white goods. These add to your total costs reducing your return on investment. We have negotiated a free furniture pack saving you up to €10,000.
2 weeks personal usage per year
If you want to adopt a live and let strategy, you may use the property yourself at any time throughout the year for up to 2 weeks.
6 month restoration period
The time taken to source your Riad and the six month restoration period allows you to immediately gain from the strongly rising market as your rent will be paid to you during the restoration period.
Fully managed and maintained
This property investment is hands-off and designed for investors who want to invest without having to deal with the lettings or management of the property. This is the perfect investment for busy professionals.
Location
The Medina of Marrakech is the most popular tourist area of the entire country. All of the Riads will be situated within the old city walls within walking distance of the main square Djemaa el Fnaa (now a world heritage site), the city souks and the Katoubia mosque.
If you would like to read our Investment Report on this outstanding investment opportunity, then please fill in the form at;
http://www.jet-to-let-investments.com/morocco
The next investor weekend in Marrakech will be 26th-28th September. If you wish to attend then call Henry now on 0151 244 5657
Best wishes
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