The “El Ghali” real estate project in Marrajech was to be a secure investment opportunity for many Moroccans and Moroccans living abroad (MRE). But it turned into a never-ending ordeal. The buyers, who hoped to return to the country in good housing conditions, today find themselves immersed in a case which reveals the excesses of the Moroccan real estate sector.
Initially presented as an ambitious and attractive real estate project, the “El Ghali” real estate project of the Faali group has become a symbol of the excesses of the real estate sector in Morocco. Delivery delays have multiplied, plunging buyers into extremely difficult financial and psychological situations.
Unable to occupy the homes for which they had invested substantial sums, some buyers today speak of a nightmare. Delivery times, largely exceeded, resulted in unforeseen costs. But also the impossibility of finding accommodation for those who hoped to be able to settle in Morocco in good conditions.
Accusations of fraud mount and mobilization increases
The multiple delays and the silence of the developers fueled the anger of the buyers, who were quick to denounce practices deemed fraudulent on the part of the developer and the construction company and promoter of the project Faali To Omrane. Accused of having sold the same apartment to several people and of having taken advantage of the buyers’ money to disappear, this company is at the center of numerous complaints. According to testimonies, each buyer paid the developer more than 700,000 dirhams for apartments which have still not seen the light of day.
Faced with this situation, the victims came together to try to make their voices heard. Protests were organized, petitions signed and legal proceedings launched to demand redress. Overwhelmed by the scale of the scandal, the buyers requested the direct intervention of King Mohammed VI to order an in-depth investigation and for the Marrakech prefecture as well as the Ministry of Territorial Planning, Town Planning, housing and city policy are taking concrete measures. The buyers hope that this royal intervention will help resolve the situation and obtain justice for the hundreds of people affected by this scam.
A crisis of confidence in the real estate sector
The “El Ghali” scandal reflects a crisis of confidence in an already weakened sector, particularly for Moroccans living abroad, often tempted by real estate investments in Morocco. This scandal raises questions about consumer protection, the liability of promoters, and the need for stricter control mechanisms. Recently another real estate scandal affected a project in the city of Tangier. Finally, last month, several developers were arrested in a case of embezzlement of funds intended for the construction of social housing.
While waiting for clear answers, buyers continue to hope that justice and regulation will take precedence over impunity and opacity, in order to restore confidence in the sector.crim
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