Private Capital · Marrakech
The Best Opportunities Rarely Wait for Capital.
swissspro360 provides international capital partners with selected access to real estate and hospitality opportunities in Marrakech — combining local origination, disciplined capital structuring and on-the-ground execution.
When the right asset appears, certainty of capital becomes a competitive advantage.
An illiquid investment with no guarantee of capital or return. This page is a presentation: not an offer, not a solicitation and not investment advice.
01 — The Market
A Different Investment Geography.
Investing in Morocco is not investing in an exotic market. It is taking a position in a country in transformation, located between Europe, Africa, the Middle East and the Atlantic.
≈ 9.4 M
visitors in the first half of 2026
growth of around 6% year on year
Ministry of Tourism / Maroc.ma · June 2026
6.05 M
classified overnight stays to end-May 2026
up around 10% year on year
Moroccan Tourism Observatory · May 2026
≈ 33%
of national overnight stays, Marrakech’s share of the country total
Moroccan Tourism Observatory · May 2026
≈ 72%
occupancy rate, classified hotels
Moroccan Tourism Observatory · May 2026
Why Marrakech
We are not only selling real estate. We offer exposure to a singular global city — where heritage, hospitality, international wealth, design, tourism, second-home demand and lifestyle meet.
02 — The Model
Access. Capital. Execution.
01
Access — Proprietary Opportunity Flow
Selected access to Marrakech real estate and hospitality opportunities through local origination, relationships and market intelligence.
02
Capital — Disciplined Capital Structuring
Project-level equity, senior financing and project cash flows are coordinated to create an efficient capital structure.
03
Execution — Local Operating Capability
From acquisition and due diligence through development, construction, commercialisation and exit.
Real Estate Development · Target gross investor IRR · short-term
12–16%+
For qualifying value-add and development opportunities, subject to project-specific underwriting, financing, execution and exit assumptions.
Hospitality · Target gross investor IRR · short-term
12–16%+
For selected acquisition and repositioning opportunities, depending on acquisition basis, capex, operational performance, holding period, refinancing and exit strategy.
What this figure is not
Target returns are underwriting objectives only. They are not guaranteed returns or forecasts. Gross return before investor-specific taxation, foreign exchange impact and individual structuring costs. Capital is at risk.
Selectivity
We are not looking for every deal. We are looking for the few opportunities where location, acquisition, product and execution can combine to create an asymmetric outcome.
Selectivity is part of the return.
03 — How Capital Works
Private capital opens. Debt and project cash flows take over.
Three sources, one sequence. Set the transaction and the financing: the model recalculates peak private capital, how long it stays committed, and the exit waterfall.
Peak private capital
10.9 M€
55% of project cost
Average capital commitment
24 months
capital-weighted
Multiple on committed capital
1.26 ×
13.8 M€ returned
Indicative model IRR
12.3%
within the 12–16% target band
The three bands sum to cumulative cost. The bronze band is your capital: it peaks early, then recedes as senior debt is drawn and collections arrive.
- Private capital3.50 M€
- Senior debt9.00 M€
- Project collections7.50 M€
All resources of the transaction, allocated according to contractual priority. Your capital is returned only after costs, debt and reserves; performance is shared thereafter.
| 01 | Project costs | 20.00 | 44.5% | |
| 02 | Senior debt: principal and interest | 9.96 | 22.2% | |
| 03 | Required reserves (assumed 2% of revenue) | 0.50 | 1.1% | |
| 04 | Return of investor capital | 10.94 | 24.3% | |
| 05 | Investor share of performance | 2.83 | 6.3% | |
| 06 | swissspro360 share | 0.71 | 1.6% | |
| Total resources of the transaction | 44.94 | M€ |
Illustrative model. It applies simple arithmetic to assumptions you choose: smoothed spend curve, senior debt drawn in proportion to cost engaged after its entry date, linear collections, reserves set at 2% of revenue. It describes no actual transaction, constitutes neither a projection, an offer nor advice, and guarantees no return. Only the contractual documentation of a transaction governs.
Five parameters swissspro360 seeks to control
The amount — the private capital the transaction actually requires. The timing — the moment at which it is called. The duration — how long it remains committed. The relay — the ability to introduce other funding sources subsequently. The release — only when the project’s actual cash flows allow it.
What the model does not promise
Bank financing does not automatically refinance the land. Customer collections do not automatically allow investor capital to be returned.
Where the dependency comes from
Any release depends on actual financing, sales, contractual and cash-flow conditions.
04 — Capital Before the Opportunity
Capital Before the Opportunity.
Good real estate opportunities do not remain available for the time it takes to organise a new legal and financial partnership from scratch. The relationship must therefore be prepared before the deal.
Model A — Committed Capital
The capital partner commits to an agreed investment framework but retains the funds until a qualifying opportunity has been identified and approved. Once a transaction satisfies the agreed criteria and approval process, capital is called specifically for that project.
Model B — Ready Capital · Segregated / Controlled Banking Arrangement
Investor capital is pre-positioned in Morocco in a segregated, controlled banking arrangement validated with our banking partner. Funds remain subject to pre-agreed release conditions and are deployed project by project.
The Model B arrangement is validated with our banking partner. Release conditions, signatures and thresholds are set out in each transaction’s documentation. The institution is not named on this page.
What the Master Investment Framework may define
Liquidity Is Negotiating Power.
The strongest opportunities are not always won by the buyer offering the highest theoretical price. Execution certainty matters.
Pre-arranged capital allows swissspro360 to approach opportunities as a credible buyer rather than as a party that still needs to search for financing.
What an owner also considers
- 01
certainty of funds
- 02
speed of decision
- 03
quality of documentation
- 04
ability to close
- 05
risk of failure
05 — Two Strategies
Two Distinct Investment Strategies.
Real estate development and hospitality do not share the same underwriting, the same timeline or the same cash flows. They are treated separately.
Value is created through acquisition, location, product, design, programme optimisation, development, cost control, positioning and commercialisation.
Investor equity
Acquisition, then legal, technical and planning de-risking.
Senior bank financing
When available and granted.
Eligible customer collections
Where the legal and contractual framework permits.
Construction, sales, distributions
After project obligations, debt, taxes and reserves.
Value is created through acquisition, renovation, repositioning, design, service, operational improvement, brand, operator strategy, revenue optimisation and stabilisation.
Acquire
Investor equity.
Reposition
Renovation, design, brand, operator.
Operate
Senior financing where appropriate.
Stabilise
Operating cash flow.
Refinance, hold or sell
According to the strategy and the transaction’s conditions.
06 — The Local Edge
The Local Edge.
What an international investor cannot easily replicate alone.
- 01
Origination
Access to owners, intermediaries, relationships and situations that may not be broadly marketed.
- 02
Underwriting
Ability to rapidly determine whether an opportunity deserves capital or should be rejected.
- 03
Product Vision
Ability to understand what international high-end buyers or hospitality guests are actually willing to pay for.
- 04
Execution
Local coordination of acquisition, administrative processes, design, contractors, financing and commercialisation.
- 05
Capital Engineering
Ability to combine private equity, project banking and project-generated cash flows rather than relying permanently on one source of capital.
Capital alone does not create exceptional real estate. Access, judgement and execution do.
07 — Governance
Your Capital Is Deployed at Project Level.
Investment capital is intended to be deployed through a dedicated project structure for an identified transaction, under the governance and documentation agreed for that investment.
Dedicated Project Vehicle
One project company per transaction, with no other activity.
Dedicated Project Banking
Project funds pass through the project company’s own account.
Approved Project Budget
Expenditure sits within a budget approved before commitment.
Project-Level Reporting
Transaction-specific reporting, delivered to the investor.
Operations in Marrakech are carried out with HMV Maroc, the Moroccan operating company.
Investor Oversight. swissspro360 Execution.
A clear allocation of roles, set out in each transaction’s documentation. swissspro360 manages the day-to-day operations of the transaction within the agreed business plan and budgets. The investor retains rights over decisions that could materially change its risk. Material related-party transactions should be disclosed, documented and governed by agreed approval procedures.
Examples of reserved matters
- 01
Material budget changes
- 02
Additional borrowing
- 03
Sale of the underlying asset
- 04
Material changes in strategy
- 05
New equity issuance
- 06
Material related-party transactions
- 07
Changes to agreed distribution mechanics
08 — Investment Process
Nine steps, from origination to distribution.
- 01
Opportunity Origination
Identification and first contact.
- 02
Initial Screening
Fit with the agreed framework and strategy.
- 03
Legal, Technical and Financial Underwriting
Transaction-specific due diligence.
- 04
Investment Memorandum
Asset, assumptions, risks, structure.
- 05
Investor Review
Questions, further information, decision.
- 06
Transaction Documentation
Articles, shareholders’ agreement, mandate, budgets, governance.
- 07
Capital Deployment & Closing
Release of funds and signing.
- 08
Execution & Reporting
Managing the transaction and informing the investor.
- 09
Exit / Distribution
According to the strategy and the transaction’s conditions.
09 — Questions & Risk
Investor Questions.
Straight answers to the questions a professional counterparty asks first.
Does swissspro360 invest its own capital?
The initial partnership model does not assume a material cash equity contribution from swissspro360. Alignment is instead intended to be created through project-level governance, deferred or performance-linked economics where agreed, and swissspro360’s participation in value creation. Terms remain transaction-specific.
Where does investor capital go?
Into a dedicated project vehicle, for an identified transaction, within an approved budget. It is intended to fund the acquisition and de-risking of the project, then its development.
Is investor capital guaranteed?
No. Any real estate investment carries a risk of partial or total loss of capital.
Is a return guaranteed?
No. Target return profiles are underwriting objectives, not promises. No past performance is presented.
Is bank financing guaranteed?
No. Any financing remains subject to each bank’s approval, terms and timing.
Can investor capital be repaid when bank debt is introduced?
Potential capital distributions or refinancing depend entirely on lender terms, project cash requirements, transaction documentation and applicable rules. They should never be assumed in advance.
Can customer payments finance development?
Where legally and contractually permitted, customer collections may contribute to project funding. Their timing and availability are project-specific.
Risk & Important Information
Capital loss
Invested capital may be partly or entirely lost.
Construction
Contractor failure, defective work, technical hazards.
Planning and permitting
Refusal, additional requirements, review delays.
Market
Prices, pace of sales, demand, economic conditions.
Liquidity
No market for the shares; uncertain horizon.
Banking
Refusal, delay, reduction, conditions and distribution restrictions.
Foreign exchange
Movements of the dirham against the investor’s reference currency.
Hospitality operations
Recruitment, quality, seasonality, length of stabilisation.
Cost overruns
Variances from the approved budget, further capital calls.
Delays
Slippage of receipts and distributions.
Regulatory and tax
Changes in the rules applicable in Morocco and in the investor’s jurisdiction.
10 — Qualify
Qualify.
A first discussion begins with a verification: your investor status, your jurisdiction, and the fit between what you are looking for and what we actually originate.
Capital Partnership
Be Ready Before the Opportunity Appears.
The purpose of a strategic capital partnership is simple: when swissspro360 identifies an opportunity worth pursuing, the relationship, decision framework and capital mechanics are already in place.
Discuss a Capital Partnership