Qatar Diar plans $335m Morocco resort
Qatari Diar aims to build a resort with hotels, holiday homes and a golf course in northern Morocco worth $335 million. The resort near Tangier will include accommodation of 3,000 beds and a conference centre and should create 1,500 jobs, according to a statement distributed at a government-sponsored conference near the Moroccan capital Rabat.
Qatari Diar for Real Estate Investment, owned by the government of the energy-rich country, has launched 18 projects across the Arab world from Morocco to Oman.
The deal is the latest in a string of investments in Morocco by GCC investors looking for new havens for bumper oil revenue.
Morocco saw $2.24 billion of foreign direct investment in the first nine months of 2006 excluding privatisations, putting the North African country on track for a record year, the government said last month.
India's TATA Consultancy Services also plans to move into Morocco by setting up an offshore services delivery centre for the French and Spanish speaking worlds, the statement added.
Tags: Moroccan Morocco Fes, Maghreb news
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