Financial Times FT.com

Opportunity in Ouirgane

By Gordon Miller

Published: November 20 2009 23:26 | Last updated: November 20 2009 23:26

Traditional Berber homes in the Atlas Mountains, Morocco
Traditional Berber homes in the Atlas Mountains, Morocco

The Atlas Mountains, located in Morocco’s interior and extending into Algeria and Tunisia, soar to 4,167 metres at the summit of Jbel Toubkal. Snow-capped until late spring, so imperious is the mountain range against the surrounding desert that the highest peaks can be seen from Spain, shimmering in the distance.

The vast range extends approximately 1,500 miles, running broadly east to west across North Africa . The Middle Atlas, Anti-Atlas and High Atlas mountains separate the Mediterranean and Atlantic coastlines from the Sahara desert and are home to the Berber peoples as well as unique flora and fauna, including Barbary monkeys.

A formerly nomadic group, the Berbers are today largely settled in villages, towns and cities and are multilingual, speaking their own languages as well as Arabic and French . Their way of life is little changed over the centuries and, they fill Marrakech’s main square, the Djeema el Fna, with exuberant colours, noises and odours.

In the Ouirgane Valley of the High Atlas, donkey and cart remains their main method of transport and traditional dress the norm. The contrast with Marrakech’s snake charmers, storytellers, dancers and magicians could not be more extreme.

This narrow valley, one hour’s drive from Marrakech, stretches for approximately 10km. It is an oasis of verdant juniper and pine trees, cerulean skies and olive and almond groves where the rustle of the wind and the scurry of a lizard is an event to behold. Small-scale, independent boutique hotel resorts such as La Bergerie and Kasbah Shama cater for a discerning mix of foreigners and locals from Marrakech, Casablanca and Rabat. Ouirgane also provides leisure opportunities such as trekking, mountain biking and paragliding and is home to a new dam that supplies Marrakech with water.

Among those charmed by the High Atlas is Sir Richard Branson, the British entrepreneur. His five-star hotel, Kasbah Tamadot, sits at the head of the Ourika Valley, close to the town of Asni, adjacent to the Ouirgane Valley.

Map showing the Atlas Mountains, Morocco Richard Bradshaw, a businessman from Western Australia, who has bought at L’Amandier, a small-scale residential retreat in the Ouirgane Valley, says: “I set out with the plan to invest in Marrakech and quickly realised the real opportunity at the moment is, in fact, in the Atlas Mountains. It’s outstandingly beautiful, close to Marrakech and very well protected from overdevelopment. The fact that there are quality hotels and spas in the area was a good sign and tourism in the Ouirgane Valley is on the rise.”

Foreigners are permitted to buy in Morocco. New build properties have title deeds while older ones do not. An impartial notary oversees the conveyancing process but foreign buyers should appoint their own English-speaking solicitor. Taxes and fees usually amount to about 10 per cent of the purchase price.

Barely a 10-minute drive from the dam at the head of the valley, L’Amandier is a retreat of 16 contemporary architect-designed, pavilion-style villas of which several are still for sale. The development sits on a plateau with views up the valley to the dam on one side, an almond and olive grove on another, and across to the Atlas Mountains on a third vista.

Two British brothers, Anwar Harland-Khan and Riaz Khan, are developing L’Amandier. “We picked out this area of the Atlas Mountains as it had all the hallmarks of an exclusive destination without the danger of being ruined by multiple developments,” says Anwar. “It was a rare opportunity – very accessible, unspoilt and protected – in a place of outstanding natural beauty. It’s less than an hour from Marrakech airport and just half an hour from the highest mountain in the Atlas range.”

When they bought the land, the pair was not certain it had a water supply. A local diviner sourced it 80 metres down, enabling development to commence. “From the outset Riaz and I were determined that L’Amandier would be developed with a very high quality European build standard and with stunning architecture as a given,” Anwar says. “It was also important that we did so in an environmentally considerate manner.”

London-based architect Nick Gowing, who has worked for artist Damien Hirst, shaped the brothers’ vision. “We have created single-storey villas – with stepped elements within the roofline to minimise the visual mass of the building – that have created a new and modern vernacular for Morocco,” Gowing says. “We have utilised local materials and craftsmanship to help establish clear links back to the best of traditional Moroccan architecture, but without the pastiche found in many Moroccan buildings.”

Light and detail are recurrent motifs in Gowing’s design. Daylight floods the bathrooms through discreet skylights. The bedrooms are built at right angles to each other across an open internal courtyard with floor-to-ceiling glazing. The Moroccan vernacular is found in the detail of the carved wooden doors, seamless tadelakt (a smooth plaster technique native to Morocco) and geometric recessed wall niches that are a modern interpretation of traditional arched windows.

Prices for the six homes released for sale this year start from £280,000 for two-bedroom villas of 151 square metres; 201 square metre, three-bedroom villas are priced from £315,000. Prices will rise by 15 per cent in 2010 but up to 50 per cent loan-to-value finance is available for British nationals via Banque Marocaine du Commerce Extérieur (BMCE) bank.

The developers are confident that this combined package will work – both for lifestyle and investment purchasers. “We believe so strongly in L’Amandier that we will be retaining four of the villas for our own investment,” Anwar says. “Our job, after construction is completed next year, is to grow the reputation of the retreat by upholding the highest possible standards of management and service and raising L’Amandier’s profile as one of the most attractive villa destinations in Morocco.”

Nearby, Bab Adrar D’Atlas is a secluded development of eight luxury villas set in a 20-acre olive grove in the foothills of the High Atlas. Three villas are still for sale, including Dar Idraren, which is a fully furnished, four-bedroom house, occupying a prime position with unhindered mountain views. Currently enjoying high rental occupancy, it is priced at £750,000 with Amazing Morocco.

Local house prices remain relatively robust despite falls since the 2008 peak. Louise Hillcoat, international marketing consultant for Amazing Morocco, says: “Early 2009 saw a drop in property sales, perhaps fuelled by uncertainty about currency, perhaps in general response to the credit crunch. At the moment, the dirham is relatively strong compared to the British pound, which means purchasers are seeing high returns on their investments when buying off-plan in sterling.”

Alex Peto at Aylesford International, who are selling Saladin Farm, a development of seven villas in the Ourika Valley, 25 minutes from Marrakech and priced from €1m-€3.5m, says: “It has been a tough year for sellers in Marrakech but there are signs of life. [We have had] many more enquiries and sales are beginning to pick up again.”

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Details

Amazing Morocco, tel: +44 (0)1937848 888, www.amazingmorocco.co.uk
Aylesford International, tel: +44 (0)207351 2383, www.aylesford.com
L’Amandier, tel: +44 (0)207754 5563, www.lamandiermaroc.com

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