Kenitra - Marocco

Intervento a Kenitra (Marocco) - Manafiaa Investissements s.a.r.l

PROJECT ATTAWFIQ

The Wilaya of Kénitra, has been experiencing an important growth during the last few years, driven by the will of the public authorities to give to this zone the vocation of a large pole of multidimensional development. This will have been concretely translated by launching several structuring projects and in different sectors of activity.
The profitability of these highly strategic public investments, rests in particular on the strong contribution of the private sector in the economic and industrial development of the Gharb region. The stimulation of private investments has become, in this way, a major challenge to strengthen the local and regional economic fabric, with a rich, diversified, efficient and competitive economy. The company MANAFIAA INVESTISSEMENTS, wishing to be part of this strategy, has decided to engage in this momentum of development of the region by contributing and helping to broaden the offer in the area of social housing, middle class, commercial premises and office trays.  
The project « ATTAWFIQ » of the company MANAFIAA INVESTISSEMENTS, which constitutes a real opportunity for the city of Kenitra and its region insofar as it responds to strong local and regional demand. This project was also designed to take into account all the regulatory, technical and commercial constraints imposed on such a project and to meet an increasingly pressing and demanding demand. The project includes, in its main components, 1.877 accommodations, including 1434 social housing and 443 standing, 299 retail units, including 150 at the sections level reserved for social housing and 149 in the segment of luxury housing and an area of approximately 21.230 M² of offices.  
In addition to the fact that this business project is « ambitious and realistic », based on rational and relevant elements, it should generate a very attractive profitability for the company MANAFIAA INVESTISSEMENTS, the project in question should, benefits the region of Kenitra, or even Morocco as a whole, in economic, social and urban terms.  

Cover note -  Updated JUNE 2017                                                                                                               
THE REAL ESTATE INDUSTRY AND SOCIAL HOUSING IN MOROCCO.

In Morocco, the real estate industry has recorded a significant development over the last decade.  This growth is the result of several factors and a long process of reforms in the housing sector. Among these factors, in particular, the revival of the economy, political stability, the strong request and reforms introduced to stimulate the investment and particularly those introduced under the new habitat policy. Furthermore, the housing situation in Morocco, marked by a large deficit and a qualitative and quantitative mismatch between supply and demand has been the subject of several studies, strategies and policies encouraging investment in this area.  
Currently, with a view to reduce the existing deficit and in order to combat unsafe housing effectively, the Government has taken a series of incentives to encourage private investments in this area. Likewise, it is appropriate to note that the actual environment and the business climate are quite propitious to an investment in the real estate sector in Morocco and in particular in the region of Kenitra.  
THE PROPERTY DEVELOPER :
MANAFIAA INVESTISSEMENTS is a S.A.R.L company with a capital of 120.000,00 DH, of property development, whose registred office is at Kenitra, 28-34, Avenue Hassan II, Residence Moulay Driss, Bureau N°1. Founded by a group of businessman, MANAFIAA INVESTISSEMENTS has the short-term objective of making the project ‘’ ATTAWFIQ’’ a total success in both urban and commercial terms and to become one of the main actors of the sector on a regional or even national level.  
MARKET STUDY :

The real estate sector in Morocco continues to show a steady growth, due in large part to the priority given to social housing, a sector where the supply is constantly in deficit, therefore it promises a continuous development in the coming years. The residential real estate remains the leading growth driver in the sector and accounts for approximately 67% of the total sales. However, the sales of the apartments dominate the sector, accounting for almost 61%of the total sales. Moreover, the majority of real estate activity is carried out at the bottom of the socio-economic scale and consists of affordable housing, which accounts for more than two-thirds of total demand in the residential real estate market
The housing deficit in the country was estimated at about 608 000 units in 2011 and this deficit has become more pronounced in these recent years.  

Cover note -  Updated JUNE 2017                                                                                                               
Besides, the project called « Villes Sans Bidonvilles » (VSB), which was launched in 2004, aims to relocate families from poor neighborhoods to new houses in urban areas. The program, which now reaches 1,75 million people, is already showing remarkable results and is well on its way to achieving its objectives
As a result of this policy, out of the 85 cities covered by the VSB program, 43 of them were declared without slums. The rate of progress of the project in the remaining 42 cities is more 60%. Casablanca, Marrakech, Kenitra, Rabat, Larache et Guercif are among the 17 cities that will soon relocate all targeted households to new homes.  
A number of financial mechanisms have contributed to the realization of the Government’s plan to rehouse families in renovated apartments.  
The objective of the Moroccan state is to relocate its inhabitants to new urban housing, so the residential real estate sector will continue to grow. The land base mobilized for urban projects already represents 4000 ha par year, of which 45% for real estate, according to the Ministry of Agriculture. The Moroccan government, as part of its social housing program, plans to open an additional 70 000 ha to urbanization, a volume and scale that speak volumes about the growth potential of the real estate sector in the country.  a.  Threats from similar projects  
A competitive offer is certainly existing but does not have the strengths of the project’’ ATTAWFIQ ‘’which is the only project of this scale located in the center of Kenitra and developed in closed residences with elevators. The main competing projects are located on the Mehdia road. These include projects carried out by ADDOHA and ALLIANCE.
Thanks to its multiple and diversified assets, the “ ATTAWAFIQ” project does not have to fear competition and its commercialization should be a total success.  b.  The market: need , evolution and tendency
The reduction of the structural deficit in social housing is from 840.000 units in 2011 to 400.000 in 2016 and the satisfaction of needs is estimated between 250.000 and more than 360.000 units by 2020, will be achieved by improving the incentive scheme.  
As a result, the government announced significant incentives for property developers. These include significant tax breaks for developers, guarantee from banks to grant mortgages, subsidies for developers and buyers to reduce the cost of housing, and the allocation of 3,853 hectares of public land for social housing. The ultimate goal is to build at least 200,000 units per year.  
The current demand for social housing is well beyond supply, the current decline of which will further increase the deficit in social housing. This situation, if left unchecked, could jeopardize the achievement of the objectives set. Therefore, massive investment in this sector is needed to fill this gap.

Cover note -  Updated JUNE 2017                                                                                                               
The law of finance 2013 also provided incentives, to promote medium-standing housing.  
MANAFIAA INVESTISSEMENTS has seized this opportunity to establish a strategy hat makes investment in the social housing sector its spearhead.   
MANAFIAA INVESTISSEMENTS is developing the project ’’ ATTAWFIQ ‘’ in the center of the town of Kenitra which is a part of accompaniment of the government policy of development of social housing in accordance with the specifications of housing Social to 250 000,00 Dirhams. Situation of the project ‘’ATTAWFIQ’’ :
It is located in the Wilaya of the Region Rabat-Salé- Kénitra, in Bir Rami est. Located within the urban perimeter of the City of Kenitra, it is bounded by Boulevard Mohamed V at the southern exit of the town of Kenitra and by: La route Nationale N°1 reliant RABAT à TANGER d’une emprise de 40 M au Nord.
♦ Land title  n° 15842/R –Cherkaoui housing estate R+2 in the south. ♦ Track N°165 with a right-of-way 20 M. to east. ♦ Land title n° 18883/R and TF 15842/R to the south-east. ♦ The 10-meter Road of Subdivision to the West.


Presentazione progetto (Eng)
Presentazione progetto (Fra)
Plan masse

Queste foto ricavate sempre con Google Earth (magari nemmeo recentissime) mostrano i lavori di cantiere in progress con la prima tranche dei lotti in elevazione