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Key In Hand Project Management Marrakech

How much will it cost me to get a riad to my specs in Marrakech?

Size matters. As a general rule, the bigger the building footprint the more it costs per square metre, simply because land is at a premium in the better quarters of Marrakech Medina. To this end, some developers have been knocking two or three plots together in order to get to a critical size – basically, a family used to European space will require a minimum of 150 square metres on the ground. This will offer over 400 square metres of living space if you count the roof terrace – one of the joys of Marrakech.

A Riad boutique hotel will probably require a minimum of 250 square metres on the ground in order to respect the five suites minimum required by law.

A nearly finished development in Ben Youssef
A nearly finished development in Ben Youssef

A good little family riad of 150 square metres, in need of restoration, will typically be sold today for £100,000 or less. The best quarters will cost more and I encourage you to sign up to my newsletter to get the latest price news. A good quality renovation will probably cost another £100,000. So for only £200,000 you can get your foot on the property ladder in Marrakech. As a private owner you have options – your second home, buy-to-let, re-sale … in any case it’s a great investment opportunity.

Buying with a view to developping a boutique Medina hotel will cost more. Yet with just £200,000 you can own property which will fit the bill. Renovation costs can be as low as £300 per square built metre, meaning that for about £300,000 you could have a prime business up and running in one of the worlds tourist hot-spots.

Institutional investors will be looking at the bigger picture – there’s a real niche here for retirement home development, for example. Large Medina properties can still be found and we know where to find them. For the ambitious, there are whole derbs which could be acquired and developped as urban resorts. Bare plots, whilst not that common, are on our books.

We are your trusted Medina specialists. Feel at ease to contact us for free advice and guidance in Marrakech.

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Key In Hand Projects Marrakech

It makes so much sense to go for key in hand projects in Marrakech whether from an economic or an aesthetic point of view. I know because I’ve managed them. At first I found it extraordinarily difficult – the lengthy delays in the administration and the planning process can be very frustrating; finding top quality workmen is a trial and error process as everyone seems to know the best and yet they often turn out to be the friend of a friend with little experience of the quality required to work on riads in Marrakech; there is always the unknown involved in renovating an old property and particularly so in Marrakech Medina, where the houses are usually built without foundations and damp can be a major issue.

Getting through the pain barrier and discovering the shortcuts in the administration, finding the right team to work with, where to source the right materials and fittings and finally delivering on-time and on budget … well, it is a most rewarding feeling.

My first worksite here  seemed chaotic beyond belief, with men perched akimbo on 10m high walls, wielding sledge-hammers.

key in hand projects Marrakech - riad before renovation - bosworthpropertymarrakech.com

Safety issues were being ignored every day … very real risk of accidents, dust inhalation … I made a decision to insist on worker safety as a prerequisite to working with anyone and it paid off. The workmen feel looked after and they give it their best shot.

I love this city and I love working here. It’s been a steep learning curve and I’m happy I’ve stuck it out. I can now share my experience of and my passion for key in hand projects Marrakech with you …

Bosworth Property Marrakech works with local people to find you the best deals on the market. We are your trusted partner in the Medina. Call Colin on 00212658025028 with any questions you may have.