Holiday Lettings news - Rio Ferdinand adds to property portfolio with houses in Morocco

Rio Ferdinand adds to property portfolio with houses in Morocco

Rio Ferdinand has invested in the Moroccan property market. Instead of competing in Euro 2008, Ferdinand has kept busy buying seven houses at a beach complex in Morocco.

Ferdinand wanted a base for family holidays as well as buying for purely investment purposes, reports The Mail on Sunday. Ferdinand invested £2m in Sadia, Morocco, where miles of unspoilt coastline were the big attraction.

However, Ferdinand also was thinking of the future: "It's not as well known here. It's got greater investment potential and I'm getting in early, although you have got to use your imagination." The Jardin de Fleur development where Ferdinand has invested is part of King Mohammed VI's Azur Programme to boost tourism, and although the site is still under construction "a smart marina hints at what is to come".

Ferdinand was involved in the design of one of his properties, a five-bedroom villa based on the traditional riad style. Currently he plans to use it for family holidays but eventually hopes to retire there.

When completed in 2010 the Jardin de Fleur development will have 3,600 apartments, townhouses and villas, three 18-hole golf courses, sports facilities, restaurants and shops.

Ferdinand's seven Moroccan properties add to his existing property portfolio; a villa and two flats on the Turks and Caicos Islands, a holiday home in Barbados and a London penthouse overlooking the river Thames.

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