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Casablanca is Morocco's main commercial centre Casablanca is Morocco's main commercial centre

JLL's Morocco Report Shows Business Tourism Boost

According to JLL's Morocco 2018 report, the Moroccan Central Bank (Bank Al-Maghrib) has widened the official band; this means that the Moroccan Dirham may fluctuate to five percent, with a maximum daily move of 2.5 percent above or below the official rate.

As part of a broader monetary reform, this move is intended to develop the competitiveness of Morocco's economy and will potentially position the country as a regional economic hub, and the gateway to Africa. The report highlights that the Moroccan economy is expected to record real growth of four percent this year, primarily driven by increased domestic consumption and public investment.

"If the currency softens against the USD and the EUR, this will effectively make Moroccan property cheaper for investors from markets denominated," explained Craig Plumb, head of research, JLL MENA.

As the report states, another factor likely to yield additional investment into the real estate sector is the launch of Real estate investment trust’s (REIT) that will reduce the level of investment required to own real estate and therefore expand the market to a wider range of investors.