Port Lixus Condo Hotel

b055man · 14-08-07, 12:37 PM

Been looking at this Plan Azur project for a while, but it has taken some time to really get off the ground. The first official launch (Mar 07) was phase 1 of apartments within a Condominium hotel. Here, investors have the opportunity to own the individual hotel units which offer a share of the rental revenue from the room as well as some personal usage each year, typically 30 days.

The initial prices quoted are as follows:

The Elite studio village is 34 sqm with a 7.7 sqm terrace. Prices start from 89,000 euros (approx £60,344)
The Elite studio terrace suite is 34m2 with a 14m2 terrace. Prices start from 102,350 euros (approx £ 69,393)
The 1 bedroom beach suite 60 sqm with 24.85 sqm terrace from 149,750 euros (approx £101,534)
The 2 bedroom surf suite 95m2 with 38m2 terrace from 283,000 euros (approx £191,196)
The 3 bedroom Atlantic suite 134.42m2 with 55m2 terrace from 396,500 euros (approx £268,827)

Note that these prices do not include VAT and it isn't clear yet if VAT will be applicable. If it is, purchasers will need to add on an extra 10%.

pollack · 30-08-07, 09:14 PM

Rob and I have been looking at various resorts and are now getting confused… we thought the market was really in its infancy but already there seems to be lots of different properties to choose from.. We really like the look of the properties in Port Lexus and have sort of homed in on La Plage Port Lixus Luxury Resort and Hotel In Morocco. Is this what you are talking about Bossman????

From the surface it looks very much like the Guest Invest concept in the UK i.e. buy a hotel room, let it out and then share the rent with the management company. Can you shed some more light on how the concept works????

moneyman · 16-09-07, 10:34 AM

For those of you considering investing in La Plage in port lixus, just a word of warning. I've been looking at this project as well, albeit a little late into it! I came across it when researching port lixus and the various projects in the area.

One of the agents marketing this project was / is Essential Morocco (Essential developments). Having been through various forums, i've read that firstly, the project is not that sound as it seems, and is not really that good an investment - its a small hotel with limited capacity, plus there's not much info on the developers or financial backers, so whether it will ever get built is another question.

However, the main point is that some of the investors who have reserved on this project have had a hard time getting their money back from essential. Surely if the development and developers were sound, they would have no problems in refunding people's money.

Just a word of caution to those considering this investment. I'd do my research properly and confirm a few things whilst on a visit to morocco than just buy blind.

CHC · 06-11-07, 09:06 PM

Hi Moneyman I'm new to the forum and it sounds like you know a bit or to about Morocco. Could you let me know were is a good place to buy a hoilday home or who is the best person to ask I have been told that Oujda is good but price of property is now getting high.

Regards

CHC

camel · 06-11-07, 10:31 PM

Port Lixus, is being done by a Belgium company. Their marketing etc has been very poor. No body seams to know or care as to whats going on.

Last year after lot of chasing around Belgium, Barcelona, Morocco. I manage to pin them down for an appoitment and was told that the show property was ready and the selling prices for a town house would be €400,000.

Once, I got to Tangiers there was nobody from the company to receive me, despite of agreeing the meeting arrangements 24 hours ago. After phoning around the person could not find any meeting points/landmark at the port.

At the sight there was no show property nor any town houses for sale. The price of the Villas were over €1.5 million. The staff at the site would not give the prices and all and sundryinformation had to be teased out of him. The prices were ever changing. It was worst than being in the Souk.

In Larche there was only one restaurant and guess what I had to pay for the lunch of the sales staff. I did not mind this but it not the protocal in any Country.

On my return to UK, I sent an e.mail to the sales manager in Belgium, explaining my experience and stressed strongly to him that the company had wasted my time & money by providing me widely incorrect prices and type of property. No reply was ever received .

It should be noted that perhaps in Larche the main town acroos the river most expense property would be about €10,000.

Although this is one of the "Plan Azur" development and guaranteed by the Moroccan Government, personally, I would not touch this deveopment besides its an extra 10 to 15 minutes drive from Al Houra, Tingah & Tanjah.

Further, as there are so many developments being launched the buyers have a choice and its better to get the best even if cost more as the flippers will create a glut and at that time only the top development will sell.

esmerelda · 07-11-07, 11:15 AM

Yes I've seen threads on other forums re the change in the actual offering on Port Lixus. Larache town itself isn't that great right now..the whole point of the Port Lixus is regeneration for the area.
One other thing I'd say is that Larache has it's own micro climate.. it's often foggy for some bizarre reason - don't know if that would affect the development itself.