Again you raise some valid points.

In my opinion Saidia will cater more for the afluent European market (facilaties included will back me up on that). Areas like Tangiers and Tetouan is more geared towards the Moroccan market. Hence, in my opinion capital appreciation in these locations will be restricted to the income and spending power of the middle class Moroccan. Saidia, being geared towards the European market, where the average person has more wealth, will thus have the potential to increase in value at much higher rates. As it begins to compete with the international holiday destinations, the wealthy from around the world be be attracted to Saidia, more so that the over built locations of Tetouan and Tangier. The other Azur projects are also great, but I don't believe they will have the appeal of Saidia.