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Property is the fourth real estate project to be unveiled by a Gulf Company in Morocco in the past few years after Dubai's Emaar Properties, Sama Dubai and Qatar's Diyar |
Foundation stone of a $1.3 billion (Dh4.77 billion) real estate project was laid in Tangiers, Morocco. The property of the Kuwaiti Gulf Holding Company (GHC) is the fourth real estate project unveiled by a Gulf Company in Morocco in the past few years after Dubai's Emaar Properties, Sama Dubai and Qatar's Diyar.
The project, which is named Villa Royale, comes in line with the company's mid-term focus on aggressively exploring good opportunities in emerging markets.
Property comprises of a residential part that includes palaces and residential units, as well as a clinic, a school, an equestrian centre and a retail complex of cafes, restaurants and shops. The project is expected to be completed by the end of 2011, while the first part is scheduled to complete by mid 2010.
