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Investors eye 'tasty Tangier'

A former spy haven in Morocco is undergoing major modernization and expansion...

The city of Tangier is currently undergoing rapid development and modernization, which is great news for prospective investors.

Projects include new 5 star hotels along the bay, a modern business district called Tangier City Center and a new airport terminal and a new soccer stadium. Tangier's economy will also benefit greatly from the new Tanger-med port.

Tangier is also set to benefit from a number of upgrades to its transport network. For example, a 24-mile tunnel linking the city with Punta Palmas in southern Spain is to be created, along with 600 miles of new roads.

These infrastructure improvements form part of an overall strategy by the Moroccan government to attract more tourists to the country.

Tangier is one of six locations identified by the government to boost visitors from six million annually to ten million by 2011. If authorities are successful in encouraging more holidaymakers to visit Morocco, this could make it even more appealing to overseas property buyers.

An increase in visitor numbers would also lead to greater demand for rental accommodation in prime locations, which in turn could trigger a surge in property values.

During the Cold War, Tangier acquired a reputation as a spying and smuggling centre and attracted foreign capital due to political neutrality and commercial liberty at that time.