Morocco launched a plan to build a new city near the Mediterranean town of Tangier at a cost of MAD 24 billion and built on an area of 1,300 hectares and will contain 30,000 housing units to the benefit of 150,000 inhabitants by 2020.
Le numéro 1 des hypermarchés en Europe, Carrefour, a ouvert son premier magasin au Maroc le 19 février en coopération avec l’enseigne marocaine Label’Vie. Le groupe français avait signé un accord de franchise exclusif dans ce sens avec Label’Vie. Cette nouvelle surface, a ouvert ses portes à Rabat-Salé, s’étale sur un espace de 5,500m² et comptera plus de 30.000 références, 250 employés et 600 places de parking.
The Portugal-based group internationally known for cutting-edge oral health treatment services announced a new project in Dar Bouazza (vicinity of Casablanca) that will include a clinic, a SPA and a 5 star hotel for a total value of MAD 280 million. The Malo Health Group operates mega clinics in many of the world’s major capital cities including Sao Paulo, Milan and Moscow. The project is backed by Palmeraie Group.
A Property Index is due to be released by year end and is aimed at making the real estate market in Morocco more transparent and regulated.
Emaar Hospitality Group’s home-grown 5 star premium hotel brand signed its 1st management contract with Azmi Abdelhadi (AAH) Group to operate a luxury property in Marrakech. Jnan Amar Polo Retreat is scheduled to open in 2011 and is spread over 40 hectares. The Saudi-based developer will begin construction this year of the $85m polo resort and hotel and could save up to 30% on costs if construction began this year.
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