A Bahrain Islamic investment bank has sealed a $1.4 billion deal with the Moroccan government for two development projects. According to the GDN, the two agreements were signed between the Gulf Finance House (GFH) and representatives of the Moroccan government to develop the Gateway to Morocco project.
The first phase of Gateway to Morocco will include two distinctive elements - the Marrakech Equestrian City in Marrakech and the Cap Malabata Resort in Tangiers.
The Marrakech Equestrian City will be a mixed-use sporting, leisure and residential complex. Spread over a total area of 380 hectares at Marrakech, it will boast of a world-class horseracing track that will be supported by state-of-the-art stabling, veterinary facilities, and grandstands.
Villas and apartments will be provided amidst spectacular landscaping and superlative waterways in the form of rivers and lakes.
Designed as a one-of-a-kind mixed-use tourism, commercial and residential destination on the Mediterranean coast, the Cap Malabatta Resort, located at Tangiers, will cover a total area of 129 hectares. It will feature cafes, galleries, exclusive shopping areas, marina, beach house, golf course, equestrian club and convention centre, as well as a range of residential and commercial accommodation.
The resort will also provide the international business community with an exclusive destination for corporate meetings, conventions and exhibitions.