Moroccan-Kuwaiti firm establishes hotel in Casablanca
The Morocco-Kuwaiti Development Group has agreed to invest 338 million Moroccan dirhams ($30.7 million) into the construction and refurbishment of hotels in Casablanca, reported MAP.
The investment will finance the construction of a hotel in the northern city as well as the renovation of a series of hotels in Marrakesh, Safi and Rabat. According the Group’s General Manager, Oualid Al-Faysal Al-Fahd, the new venture will creat 80 new jobs and maintain an existing 500 positions in the Moroccan tourism sector.
In a bid to attract 10 million tourists annually to Morocco by 2010, the government recently launched a media campaign geared toward local and foreign companies, promoting a new initiative for the construction of six new seaside resorts along the Mediterranean and the Atlantic coasts. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
- Royal Mirage will run Sheraton Marrakech, Agadir and Fez
- Kuwaiti firm to establish new bank in Iraq
- A new miracle on horizon: is Casablanca about to become the next Dubai?
- Portuguese firm bids for Moroccan resort tender
- From palaces to engine-making: Morocco's stability is attracting billions in foreign investments