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2658 sqm of land on Casablanca's main avenue for touristic and business tourism (Avenue des FAR), with an authorization for a 25 floors tower, 30960 sqm of built surface, with a parking nearby. It is located right in the "Golden Square" of the city, the zone with the most successful hotels and close to all infrastructures, business centers (including financial center) and touristic attractions.
Our architect recommends to do a mixed building, with commercial spaces on the ground floor, offices and a hotel, a mix that has proven to be successful in the Casablanca Twin Towers.
The total cost of the project is 29 millions euros, including 13 million for the acquisition of the land and 16 million euros for construction costs.
The previsional financial internal rate of return is 14.6%, while the project internal rate of return without financing is 11.9%.
Real Property Included
Living accomodation can be included in the plans.
Prime high street location, in the "Golden Square" of Casablanca tourism. Next to several investment funds, banks and insurance companies, and 5 minutes away from the train station.
The land is located on the Avenue des FAR, there are several successful hotels nearby including the Royal Mansour, the Golden Tulip Farah, the Ibis hotel, the Sofitel, the Novotel, all experiencing very high occupancy rates, ranging from 70% to 97% full year.
We already have clients interested in buying 1000 sqm on the ground floor for a supermarket, and clients interested to buy or rent the offices (a local investment fund and a multinational company specializing in renting office spaces).
There is no mixed offer in the zone. There are "classic" hotels which offer only the "hosting" component of the business, but there are no mixed offers except the Twin Towers, that are located 3.5 km away.
We do not build ourselves. We operate only as a provider of services for the owners of the land and for the builders. The owners are neither builders nor hoteliers, so they prefer to sell the land.
We can develop the land and bring a hotel company to operate it if the owner wants. We have the possibility to deliver a fully operating hotel within 3 years., thanks to our team of international experts.
50% financing available from our partner bank.
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