New York - Morocco is among the top ten countries with the lowest risk ideal to invest and open a business in real estate.
The North African country ranked in the top ten among 42 countries studied by the investment consulting firm Cushman & Wakefield, known worldwide for its expertise in the real estate business.
Morocco ranked eighth in the list of top emerging markets in the world, according to the real estate firm’s "Emerging and Frontier Markets 2015” report.
Casablanca, Morocco’s economic capital, is “reasonably well developed, with the city center and Sidi Maarouf the principal submarkets,” Cushman & Wakefield said, adding that “there are a number of locations throughout the city that are also emerging.”
Both Casablanca and Rabat have an oversupply of office rental space available, the same report noted.
In Rabat, “a number of vacant real estate projects have been recently completed, adding large volumes of space to the market and creating a downward pressure on rental values,” according to the consulting firm.
“Casablanca, however, has witnessed greater stability in rents, with supply levels more contained,” the company added.
The report said that Morocco’s supply and demand of real estate has been re-balanced, mainly due to the completion of large office projects, forcing landlords to increase tenant incentive packages, mostly in Rabat.
“Emerging and Frontier Markets 2015” also listed Morocco’s main industries where the country excels: phosphate mining and processing, food processing, leather goods, textiles, construction, energy, and tourism.
The top ten list of emerging markets with the lowest risk to invest in real estate are: Botswana, Uruguay, South Africa, Ghana, Turkey, the UAE, Panama, Morocco, Indonesia, and Tunisia.
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