Ground was broken officially in Rabat yesterday on the first phase of the luxury Mazagan Resort, a $350 million joint venture project that involves Dubai World subsidiary Istithmar PJSC, Kerzner International Holdings Limited, and a cluster of Moroccan Government and private investors.
The Moroccan partners include the government pension investment fund, CDG Développement, the Moroccan-Emirati investment fund, SOMED, and the mutual insurance companies, La Mutuelle Agricole Marocaine d'Assurances and La Mutuelle Centrale Marocaine d'Assurances MAMDA-MCMA.
Those present at the ground breaking event for this unique development was the Prime Minister of Morocco, Driss Jettou, and the Minister of Tourism, Craftsmanship and Social Economy, Adil Douiri.
Kerzner International Holdings Limited, a leading international developer and operator of destination resorts, and luxury hotels, will develop and manage the Mazagaon Resort.
This will span 324 hectares of coastal land (when completed the whole resort will cover 514 hectares) and will feature a 500-room, 1,000-bed five star hotel, multiple restaurants including Mediterranean, Portuguese and Moroccan restaurants, a private lounge club, a club House, a buffet restaurant and five light meal restaurants.
Tags: Moroccan Morocco Fes, Maghreb news
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