The French mortgage brokerage company Meilleurtaux will establish itself in Morocco from September to take advantage of the potential of the mortgage market in this North African country, reports the French daily economy newspaper Les Echos.

A first branch will be opened in Casablanca. But Meilleurtaux is already planning to spread "later on" to other big cities. It will thus join CAFPI - the French top company in the sector -, present since 2008 in the country, in Casablanca, Marrakech and Tangiers.

The brokerage firm intends to target the local brokerage market rather than foreigners looking to acquire dwellings in this country located about two and a half hours away by flight from France. "The Moroccan mortgage brokerage market represents 3 billion euros of mortgage loans, approximately 30 billion dirhams. But the country is experiencing flourishing demographics, a real booming market for real estate development and a cultural wish for Moroccans to become home owners", stressed Maël Bernier (photo), communications director at Meilleurtaux.

"Just like in France, clients are looking for the lowest rate. Moreover, banks are quite partial to well-built cases", she added.

To address the Moroccan market, Meilleurtaux has formed an alliance with an old Moroccan real estate developer with good relations with the banking sector and business intermediaries. The partnership will be in the form of a joint business venture with Meilleurtaux holding 51% of shares.