Why the fund buys land before the road arrives
Infrastructure announcements move prices in Morocco faster than anywhere in Europe. How we read them, and what it means for your annual dividend.
Between the Tiznit–Dakhla expressway, the Kénitra–Marrakech high-speed line, Dakhla Atlantic port and the 2030 World Cup stadiums, Morocco is building more infrastructure per year than at any point in its history.
The pattern
Land next to a future interchange or station typically re-prices in three steps: at the announcement, at the start of works, and at the opening. The fund buys between the first and the second step, with titles and permits secured, and sells or develops around the third.
What it means for investors
Operations last 18–36 months. Each year, the profits from the operations closed are distributed as dividends, pro rata to participation. You can follow each operation in your quarterly report.