Gulf states to invest $737m in Moroccan tourism

Royal cabinet says Gulf fund Wessal Capital will invest in tourism infrastructure in port of Casablanca
Gulf states to invest $737m in Moroccan tourism
By Reuters
Tue 01 Apr 2014 08:33 PM

The Arab Gulf states fund Wessal Capital will invest MD6 billion ($737 million) in tourism infrastructure in the port of Casablanca, the first in a series of other similar projects planned by the Gulf states, a statement from the royal cabinet said on Tuesday.

Wessal Capital is a joint venture focused on tourism development in Morocco, created by Qatari fund QatarHolding, the Kuwait Investment Authority's Al Ajial Investments, Abu Dhabi's sovereign wealth fund Aabar, Saudi Investment Fund and Moroccan Fund for Tourism Development (FMDT).

For all the latest travel news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.