The National Authority for Financial Information in Morocco has launched an investigation into the growing trend of foreign nationals—particularly from Sub-Saharan Africa—purchasing luxury real estate in key areas in Morocco like the Rabat-Casablanca axis.
The investigation follows concerns over the rising number of real estate acquisitions by non-resident foreign nationals, some of whom hold both European and African citizenship, and aims to trace the source of the funds for these high-value transactions, which in some cases involve sums exceeding 4 million dirhams.
The authorities are particularly focused on the “Golden Triangle” area in Casablanca, where the price per square meter surpasses 50,000 dirhams.
Many of the properties purchased in this region remain unused, raising suspicions of potential money laundering or other illicit financial activities.
Inspectors are also scrutinizing the role of real estate agents, who are now required by law to report any suspicious transactions as part of Morocco’s efforts to comply with international anti-money laundering and counter-terrorism financing standards.
In addition to examining already completed transactions, the investigation also extends to real estate purchases made through pre-construction reservation contracts, with inspectors tracking large financial flows funneled through real estate company accounts.
This investigation is part of Morocco’s ongoing efforts to safeguard its financial system from illicit activities, in line with the recommendations of the Financial Action Task Force (FATF).
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