Never has a real estate scandal shaken Morocco as much as that of the Bab Darna group, the amount of the scam being estimated at 57 million euros. Ten years of real estate fraud with at least 1,000 victims for about fifteen fictitious projects in the Greater Casablanca area.
The fight against the dispossession of real estate from Moroccans and foreigners is intensifying. From now on, users seeking to consult real estate will have to submit a written request and a court order, in accordance with the decree of 04/07/2014 on land registry procedures.
Moroccans’ debt continues to grow every year. Real estate is to blame.
A bill, filed on February 4, 2020 in the House of Representatives, and transferred on February 17, 2020 to the Justice, Legislation and Human Rights Committee of the House of Representatives, aims to amend the Penal Code. And this, for a better regulation of expropriation, with a view to better protecting private property.
On the orders of the Agadir Public Prosecutor’s Office, the executive director of a large real estate group has just been arrested by the National Brigade of the Judicial Police of Casablanca, for her alleged involvement in cases of fraud and embezzlement related to several real estate properties.
The final deadline to complete the online declaration requirement is set for Monday, March 2, 2020, according to the tax authorities.
The Head of Government, Saâdeddine El Otmani , made a rather surprising statement on real estate issues, when presenting the report of the study on the national strategy for the state’s real estate policy and the action plan for its implementation. The Economic, Social and Environmental Council (CESE) was in charge of this.
Scandals have not finished splashing the real estate sector in Morocco. The latest, a real estate project of about thirty villas in the Casablanca region, built on a quarry.
The multiplication of taxes in the real estate sector is provoking a reaction from developers who are calling for the reduction of some of them and the elimination of others. They denounce the general and unconditional application of the Tax on Unbuilt Land (TTNB), ranging from 4 to 20 Dh/m2 for areas populated with buildings, and from 2 to 12 Dh/m2 for areas made up of villas.
Faced with the loss of attractiveness of social and economic housing, professionals and supervisory authorities are reflecting in order to implement a new type of program.
The presidents of housing associations, accused of defrauding hundreds of clients in Harhoura and Salé , have received prison sentences and fines.
Real estate sales in Morocco fell by 3.8% at the end of 2019, unlike 2018, when they were up 4.8%.