Yesterday Morocco and two United Arab Emirates companies signed eight conventions on tourist and housing projects that are to cost nine billion USD and to be based in several Moroccan towns. The scale of the investments is huge and the implications for the economy, tourism and employment are all positive.
The conventions, signed under the chairmanship of King Mohammed VI, involve the Moroccan State and two UAE companies: "Dubai Holding" and "EMAAR" They provide for investing over a 10-year period in the projects that are to be carried out in Rabat (5.1Bn), Marrakech (2.4Bn), Casablanca (1Bn) and Tangier (0.65Bn).
Investment amounting to USD 3.1Bn is to go to the development of a 330-hectare area around the Rabat ledge. The 110"hectare Amwaj project along the Bouregreg River valley, also in Rabat, is to receive 2Bn of investments.
The 600-hectare tourist project in the Oukaimden Mountain, close to Marrakech, is to be carried out with a budget of USD 1.4Bn. Two other tourist projects in Chrifya (Marrakech-140 hectares) and on the route to Ouarzazate (600 hectares) are getting USD 1Bn.
The convention on the marina project and "Khalij El Hank" project in Casablanca, to cover a 40-hectare area, provides for a fund of USD 1Bn to implement the projects.
The housing and tourism resort project in Tangiers is allotted USD 650Mn and to cover 230 hectares. It includes a marina, several hotels, as well as recreation and shopping facilities.
Tags: Morocco Fes, Maghreb UAE
No comments:
Post a Comment