By Courtney Trenwith
Private consortium is investing $1.3bn in tourism, recreation, and health projects in the North African state
A consortium of Saudi and US private firms will invest $1.3 billion on tourism, recreation, and health projects in Morocco, Saudi Gazette reported.
The developments include a theme park featuring a tourist resort and golf course designed to attract 2 million visitors a year, as well as a concrete project that would be used to build low-cost, environmentally-friendly houses, schools, hotels and other facilities.
More than 5000 two-bedroom homes would be built, as well as a 200,000 sqm medical spa specializing in weight loss and women’s health.
The deal was signed between Riyadh-based Knowledge Corner Marketing and Business Services and the Moroccan city of Taroudant.
Gulf states have invested in multiple projects in Morocco to help boost the fellow Arab country’s economy.
A year ago, UAE-based Al Futtaim group announced a joint venture with Moroccan and Portuguese firms to development one of the region’s biggest superregional retail and leisure destinations in Morocco.
Dubai developer Emaar also has built a residential area set around a championship golf course, in the capital, Marrakech.
Erratum: the capital of Morocco is "Rabat" and not Marrakech.
Interesting article and you are right, at the moment Morocco is an important investment destination as it provides all the necessary investment climate and much more.
Marrakech is a beatiful city loved by the Moroccans and adored by foreign tourists and investors but I am "sorry" to inform you that it is NOT the country's Capital as your article mentions.
The Capital is another very beautiful city called Rabat which I encourage you to visit if you have not done so.
But I guess that must have been just a typo.
Thank you again for a captivating artcile.