GFH to launch Morocco projects

Bahrain-based Gulf Finance House (GFH) has announced that it will formally launch both components of the $1.4 billion Gateway to Morocco project in early 2007. Memorandums of Understanding (MoU) for both projects - Royal Resort Cap Malabata in Tangier and Royal Ranches in Marrakesh - were signed between the government of Morocco and GFH in the summer.

"We are committed to timely implementation of all our projects and the planned formal launch of Phase I is a natural extension of this commitment," said Mr Al Jasmi, who is vice-chairman of Royal Ranches Marrakesh and Royal Resort Cap Malabata Tangier, according to the GDN.