Taking Saïdia in the north of Morocco and Ayamonte in the south of Spain, the group led by Manuel Jove Capellan has recently launched the ground-breaking work for these immense real estate programmes almost at the same time. Lying 500 km from Rabat on the Mediterranean coast, the Mediterrania Saïdia project will be developed in a prime location. Spreading out over an area of 713 hectares bordering 6 km of beach and located near the international airports of Oujda and Nador, close to 1.5 billion will be invested to create a new generation coastal resort: 370 million will be financed by Fadesa and 1.2 billion by the Moroccan government. The goal is to attract 600,000 tourists annually between now and the year 2010 to this new complex consisting of upscale residences, luxury hotels and golf courses (3).
 
Completion of initial phase: end of 2006
 As part of “Vision 2010”, the Moroccan government’s tourist development plan, the Saïdia programme plans to build 3,000 housing units (apartments and villas), a yachting harbour of 29 hectares, and three 18-hole golf courses. Included in the plan are hotel facilities with more than 5,500 rooms to be spread out, over a period
 of time, between 10 establishments. A major attraction of the project is real estate. Two types of properties are envisioned: luxury apartments and charming villas with character. Architecturally designed on two levels with terraces and solariums, these properties come in two models: the first one will have a total area of 253 m2 (floor space: 201 m2), and the second will have 281 m2 total surface area, of which 238 m2 is floor space (solarium: 56 m2). With respect to the apartments, two choices are available: style T3 of 145 m2 with a solarium, or style T3 of100 m2 with a garden measuring 76 m2. While these prices are mere estimates, interested parties must plan for a budget of 110,000 for an apartment… For those interested in a house, it would be about double that amount. Note that during the initial phase of the development work scheduled for completion in the second half of 2006, there should be 50 villas and 250 apartments ready for delivery. The project will only be finished around the 2013 time frame.
 
Golf Course by the Sea
 To be developed over a 210-hectare zone, the three golf courses will have a sea front location and will be in proximity of the residential area. The first 18-hole golf course (El Palmeral), designed like an American course and opening in the beginning this year, will be followed by a 36-hole golf course divided in two sections (Las Lagunas and l’Oasis Golf). They will face the sea and will also accommodate the “Port Saïdia” yacht harbour and its 740 moorings: 340 for sail boats and 400 for motor boats. In fact, no less than seventeen beach club facilities will be opened in the next few months, before establishing the medical centre, conference site, heliport, and numerous business establishments. The entire hotel complex will take up a total area of 167 hectares and will consist initially of 6 hotels in varying categories: one 5-star and four 4-star hotels. According to Pablo Losada, Fadesa’s representative in Morocco, “Saïdia should offer the best of the Mediterranean cultures as well as Morocco’s beautiful attractions.” In Morocco, Fadesa was granted a contract in early May this year to construct another  residential and tourist resort in Kabila totalling 150 million worth of investments. This project will face the Mediterranean coast (north of the Cherifian Kingdom) and will be developed over a land area of 55 hectares; it will deliver several lot areas of which there will be 1,656 residential apartments, 354 tourist homes and 179 villas. A hotel covering an area of 33,000 m2 is also planned, with space reserved for leisure, entertainment, and restaurants for a totally exclusive zone area of 55,000 m2.
 
A Programme for 7,000 Housing Units in Ayamonte
 From the other side of the Mediterranean right in Ayamonte and located in the Andalucian province of Huelva, Fadesa will tap 660 million to build a second programme that is equally ambitious in scope. Situated near the Portuguese border, and near the largest European natural park, (the Coto Doñana), this new project will be developed around a residential area of 7,000 housing units, two golf courses, three luxury hotels and several recreational centres including business establishments. To be built on almost five million square metres at the mouth of the Guadiana River, this real estate project will offer two types of properties identical to those in Saïdia: semi-detached dwellings and apartments. For the first type, there will be three or four rooms with private gardens and terraces, and for the second type, a ground floor with gardens or duplex terraces. Moreover, Fadesa will offer vacant lots of 1,000 m2 for those buyers who wish to build their own properties. From a land area of 105, 114, or 135 m2, the three types of apartments will be equipped with roof top terraces of 40 m2. The villas with gardens (128 m2) will have a floor space of 168 m2 and the duplex units, designed in true Andalucian tradition covering 196 m2 of floor space, will have two terraces of 24 and 35 m2. The price range for these properties goes from 172,000,00 for the apartments to 252,000,00 for the duplex villas. A major selling point is that the apartments are equipped with a full-service kitchen, air conditioning pre-wiring, and ceramic tile floors.
 
Golf: a myriad of choices
 In addition to the two 18-hole golf courses, future buyers of real estate will be able to take advantage of several courses which will be developed near the complex (refer to figure n°2). Having an area each of 797,611 m2 and 766.633 m2 respectively, the Ayamonte golf courses will border the residential area overlooking the Mediterranean. It is a privileged location, no doubt a convincing argument for selling the concept. Three hotels – 5-star and 4-star - complete the package including certain zones to be allocated for commercial and recreational purposes. There is much to justify the rank of “Costa Esuri Casas & Golf” as one of the most imposing residential and recreational complexes in all of the Iberian Peninsula. Fadesa Spain recently announced the implementation of several other projects. In Sitges, in Catalonia, the group will invest 12 million in a 34-villa project of the highest quality; in Aranjuez, Fadesa will build a new complex which will include a casino, a residential project of 2,745 housing units, a golf course, and a 4-star hotel – all these for a total amount of 530 million. And finally, near Alméria and de Jaca (Huesca), the developer should be starting the construction of two new real estate projects soon: 605 housing units for the first phase and 784 for the second phase.


The Fadesa Group
First Spanish independent real estate developer and the leader in residential housing, the Fadesa Group specialises in the constructionof hotel and golf resorts (representing 40% of its 2005 activities). With offices in Europe (Spain, France, Portugal, Hungary and Poland)and in Morocco, Fadesa reported sales of 977 million in 2005 (687 million in 2004).The Group has also recently arranged a strategic agreement with the hotel company chain, Globalia, intended to implement acommon hotel management structure. The Group has so far developed almost 30,000 out of the 100,000 housing units envisionedfor the project.

The Golf Courses in the Ayamonte Areas
Isla Canela golf course: 18 holes, par 72 within the proximity of Ayamonte, designed by architect Juan Catarineu.Islantilla golf course: One of the first regional golf courses built (27 holes). Open since 1992.El Rompido golf course: Open since 2003, this was the first 9-hole golf course that proved to be a real challenge for players whopracticed creative golf. The last 9 holes (Laguna), which are slightly more open than the first set, enables players to take more risks.The expansive A4 greens and impeccable 419 Bermuda fairways represent an unforgettable experience, combining the possibility ofusing a wide variety of strokes with simulated tournament conditions.Benamor golf course: This is the first golf course that opened in the east of Faro in Algarve, with breathtaking viewsof the Atlantic Ocean and Tavira Island. One par 71, 18-hole course designed by Henri Cotton.Castro Marim golf course: 18 holes, par 71, located just after the Portugal border.Quinta Da Ría golf course: 18 holes, par 72 with impressive views of the sea and mountains.Quinta Da Cima golf course: 18 holes, par 72, located inside the Ría Formosa natural park.