A company recently formed by four Abu Dhabi-based developers will build a massive real estate development in Marakech, Morocco.
The project - estimated to be worth US $1 billion (AED3.67 billion) - is still in the master-planning stage, although a project insider from Sorouh, one of the four developers, confirmed that it would feature high-end property and would be located in the outskirts of the city.
The other developers that make up the new company, called Al Maabar, are Aldar Properties, Reem Investments and Al Qudra Real Estate.
"We are also going to tie up with a Moroccan government agency to develop the project," said the Sorouh spokesperson, who wished to remain unnamed.
"The details are still in the master-plan stage, but it will be a high-end development. We'll be using Al Maabar as a vehicle for venturing into the GCC and the rest of the region."
Tags: Moroccan Morocco Fes, Maghreb news
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