EDM 355: Paradise Beach Resort in Morocco

That this House recognises that some 800 investors, the vast majority of whom are British citizens, made investments in the Paradise Beach and Golf Resort in Tangier, Morocco, which was first advertised in 2006; notes that the development was widely promoted as part of Morocco’s policy to attract foreign and British direct investments; further notes that the development was built on state-owned land and closely monitored by the Moroccan government before construction was abruptly halted in 2016, just before completion; recognises that investors have failed to recoup their initial investments, with some having lost their life savings, some seven years after the Moroccan government proposed a solution to complete the scheme; and calls on the Foreign Commonwealth and Development Office to work with the Moroccan government to ensure that a solution is found for British investors.