Anticipated urban design changes in Casablanca entice promoter competition over land

Hespress has learned from informed sources that the real estate sector is currently accelerating efforts to expand its holdings in the Casablanca-Settat region, anticipating upcoming changes to local development plans.

According to sources, the real estate lobby is actively acquiring land, properties, and new buildings in several areas in preparation for these changes.

The new development designs, expected to replace outdated plans after a decade, will likely alter areas currently designated for villas into plots suitable for buildings of up to three floors. Additionally, changes will involve removing certain green belts, which is expected to increase the value of the affected properties.

Activity among brokers and real estate agents has surged in areas such as Ain Chok, Sidi Messoud, Ouled Saleh, Bouskoura, and Dar Bouazza, as well as nearby communities like Berrchid, Jakma, and Mediouna.

The prices for agricultural and non-agricultural land, warehouses, and residential properties have reached record levels due to anticipated changes and the removal of green belts. Most transactions are being conducted in cash, avoiding bank financing and mortgage loans due to high demand and intensified price speculation, particularly among real estate companies.

Sources report that land prices on the outskirts of Casablanca have risen by 40% following leaks about the removal of green belts, which had previously depressed prices.

Real estate professionals, including technicians from reconstruction departments, have transitioned into roles as brokers and consultants for companies and developers seeking to expand their portfolios. These individuals have reportedly earned significant commissions by facilitating numerous transactions in their respective jurisdictions.

Competition is expected to intensify among real estate developers and contractors for properties classified as “restructuring zones” (ZR). These areas are anticipated to be reclassified as residential zones (ZH) under the new development plans, potentially increasing their value by at least five times. Concerns are growing about possible favoritism in construction permits and licensing during this period.

The new development plans are also expected to impact large landholdings and real estate assets, leading to potential disputes and damage to property owners, especially in high-value areas of the economic capital. Mohamed Amhidia, Governor of the Casablanca-Settat region, has previously instructed officials to verify the integrity of construction documents submitted by affected owners as part of the process to clarify the status of urban planning.