Because of administrative hassles and delays: A major Spanish real estate operator leaves Safi for Algeria

Weary of the countless official and unofficial obstacles fuelled by personal stakes and interests, the Spanish company Merke, which built 300 apartments dedicated to social housing within the framework of a real estate project that provides for the creation of 1,400 units, has just put an end to its investments estimated at 30 billion centimes. This project concerns the site known as Jnane located in the city of Safi and which covers an area of seven hectares.Started three years ago, this real estate project included social, educational, and sports infrastructure, a dispensary, a youth centre, a shopping centre, a high school, and a green space. It constituted the first experience in Morocco for the Spanish firm initiated in partnership with the municipal council and the regional investment directorate. To this end, said company had committed to offering a quality product at affordable…