(MAP) Egyptian company Orascom Hotels and Development (OHD) is to built a USD 1,165 bn tourism resort near the Southern city of Tan-Tan , under an Memorandum of Understanding (MoU) signed, here Tuesday, with the Moroccan Government.
The tourism complex to be built on the banks of the Chkiba river, some 50km of Tan-Tan, on the Atlantic Ocean, will include hotels with 4000 bed capacity and 7000 residences, in addition to leisure centers. The project will provide 4000 permanent jobs and will be built on 1500 plot land.
According to Moroccan Minister of Tourism, Handicraft and Social Economy, Adil Douiri, the technical studies of this "huge" project will be finalized in six months and the works will be launched in 2008. The first Hotel will open early 2011.
ORASCOM Hotels and Development chairman, Samih Sawaris, underlined the tourism potential in Morocco and explained his group’s investing in the region by the “encouraging investment environment” in the North West African country and the climate in the region in addition to the security and stability in the kingdom.
With a land bank of over 91 million square meters and as a fully diversified tourism and real estate developer, OHD specializes in the development of fully self-sufficient destinations, complete with real-estate properties, hotels, marinas, golf courses, shopping centers, and restaurants.
It is also the primary designer, developer, contractor and marketing force behind the highly successful El Gouna (Red Sea, Egypt), Taba Heights (Sinai, Egypt), Tala Bay (Aqaba, Jordan) and The Cove (Ras El Khaimah, UAE) projects.
Tags: Moroccan Morocco Fes, Maghreb news
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