In the latest Gulf investment in the North African region, the foundation stone of a $1.3 billion real estate project was laid in Tangiers. The great potential and strong prospects of the Moroccan economy encouraged the company to go ahead with its plan to start the project despite the financial crisis that is crippling some of the globe's strongest econ-omies, according to executives of the Kuwaiti Gulf Holding Company (GHC).The project is expected to be completed by the end of 2011, while the first part is scheduled to complete by mid 2010. Villa Royale is the 3rd project for the company with investments totalled so far nearly $2.2 billion andspreads over 1.13 million sq.mt. in the prestigious Gulf Finance House (GFH) promoted Royal Resort Cap Malabata Project.
via Jumana Al Tamimi, Gulf News
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