www.gulf-daily-news.com The first unit of the $1.4 billion Gateway to Morocco project, promoted by Bahrain-based Gulf Finance House (GFH), has been opened in Tangiers, Morocco.
Moroccan Industry and Commerce Minister Mizwar Salahuddin formally opened the Royal Resort Cap Malabata Client Relations Centre (CRC).
The resort is a unique mixed-use tourism, commercial and residential destination in the city of Tangiers.
The $600 million Royal Resort Cap Malabata development is one of the two distinctive but complementary elements of the $1.4 billion Gateway to Morocco project, the second element being Royal Ranches in Marrakech.
The opening of the CRC was followed by a guided tour of the vicinity, a laser show and cultural programme, and ended with a reception.
GFH chief executive officer and board member Esam Janahi thanked King Mohammed VI for his support for the Gateway to Morocco project and his strong commitment in encouraging Foreign Direct Investment (FDI) flow into the Morocco.
He also thanked Prime Minister Driss Jetou for the support provided by the Moroccan government.
"The Moroccan economy has experienced excellent growth over the last few years," said Mr Janahi.
"Additionally, Morocco is a farsighted real estate investment location offering all the right natural elements for a harmonious environment.
"Tangiers with its beautiful beaches, and its close proximity to Europe, Mediterranean environment, language, accessibility, culture, amongst other striking features provided the ideal setting for the Royal Resort Cap Malabata project."
Royal Resort Cap Malabata will positively contribute to the overall social and economic framework of Morocco by enhancing FDI flow, offering investors with a new attractive investment opportunity and by directly and indirectly creating a quantum of new jobs in the Kingdom, Mr Janahi added.
Designed as a one-of-a-kind mixed-use tourism, commercial and residential destination on the Mediterranean coast, Royal Resort Cap Malabata will cover a total area of 127 hectares.
It will feature cafes, galleries, exclusive shopping areas, beach house, 9-hole golf course, equestrian club and convention centre.
It will also provide the international business community with an exclusive destination for corporate meetings, conventions and exhibitions.
The resort will also include a private school as well as a clinic equipped with the latest medical facilities.
The new on-site state-of-the-art CRC will serve as a fully integrated sales and support centre for developers, and also function as a hub for promoting and advertising the development.
Gateway to Morocco adds to GFH's existing investment and project portfolio in Bahrain, Saudi Arabia, the United Arab Emirates, Qatar, Kuwait, Jordan, Egypt, India, Germany, Spain and France. |