Bouregreg Valley Development in Morocco

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The Bouregreg Valley Development in Rabat, Sale began in 2014 by King Mohammed VI. The project aims to transform an area that spans 4,000 hectares into a brand-new urban district.

Its first phase is Bab al-Bahr. Alongside the Regie de distribution d’Eau, the Hassan II Fund for Economic & Social Development & d’Electricite de Rabat-Sale (Redal) will fund the project. Meanwhile, its development will be under the expertise of a subsidiary of Dubai Holding, Dubai International Properties (DIP).

By 2025, the Bouregreg Valley Development Project aims to have been completed. Its total cost is approximately €394 million, and it covers a total of 6 zones. Its key partners are the French Development Agency and European Investment Bank alongside the European Commission.

Project for the development of the Bouregreg Valley in Rabat (zone 3) - UPFI - Urban Projects Finance Initiative

Reported On Jun 17, 2014

US$1.10bn cultural and leisure center for Morocco

Wessal Capital an investment fund focused on developing tourism in Morocco has announced the launch of its second-largest project worth US$1.10bn. Furthermore, the project aims to build a new cultural and leisure center for both tourists and local residents.

The project is a joint venture by Kuwait Investment Authority’s Al Ajial Investments, Qatari fund Qatar Holding, Abu Dhabi’s sovereign wealth fund Aabar, Saudi Investment Fund, and Moroccan Fund for Tourism Development (FMDT).

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It will encompass the construction of a new marina for promoting tourism, hotels, residential housing, urban green spaces, and a theater. However, the project is the second part of the Bouregreg valley development.

According to Lahcen Haddad the Minister for Tourism, Rabat the capital city of Morocco is starting to become a great cultural destination. More so, the reason for huge investments in theaters and museums. Furthermore, the government plans to also invest 9 billion dirhams (US$1bn) in renovating urban areas of the city.

Tourism is the second largest contributor to Morocco’s GDP after agriculture.