"Prices will definitely rise": How the World Cup is driving up property prices in Marrakech

In the blazing sun, a crane unfolds in a building courtyard. Fifty meters away, another metal machine spans the street to lift loads. In Guéliz, in the beating heart of Marrakech , the cranes positioned between the ochre buildings saturate the landscape. "On this block alone, you have 8 or 9 construction projects," says Icham Idrissi, a real estate agent at Guy Hoquet, whose shop now also overlooks a construction site.

The red city is experiencing an unprecedented surge in real estate fever, where every square meter of land is worth its weight in gold. "There are developments everywhere, even in remote areas," confirms Jamal Mohada, a notary in Marrakech. This is an effect of the World Cup, which will be held in the country in 2030 and is whetting the appetites of developers and investors alike. In two years, land prices have already appreciated by an average of 30% according to local observers, sometimes doubling in areas where they were previously worth little. This phenomenon...