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Article: Taghazout plan takes shape: Atlantic coast development is the penultimate Plan d'Azur project.
- Article from:
- MEED Middle East Economic Digest
- Article date:
- August 18, 2006
CopyrightCOPYRIGHT 2006 MEED Middle East Economic Digest. All Rights Reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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A consortium of Colony Capital of the US and Spain's Grupo Satocan Lopesan signed in late July a memorandum of understanding for the development of the estimated $1,400 million coastal resort of Taghazout in the southwest. The development is the fifth of six projects to be awarded under the estimated $3,500 million Plan d'Azur, part of Rabat's programme to boost tourist numbers to the kingdom to 10 million a year in 2010 from 2.3 million in 2004 (MEED 18:8:05; Construction, MEED Special Report, 13:5:05).
The Taghazout resort, located 15 kilometres from Agadir, will feature nine hotels, high-quality housing compounds, a commercial centre and sports facilities. ...