Tasweek plans $55m mixed-use project in Morocco

UAE company has announced plans for new health, residential and tourism project in Agadir

Agadir, Morocco.
Agadir, Morocco.

UAE-based Tasweek Real Estate Development and Marketing on Monday announced plans for a new $55 million mixed-use project in Morocco.

The project, which will include health, residential, retail and tourism components in the city of Agadir, is the second project for the company in the North African nation. It was also behind the 160-bed private hospital built in Marrakesh Healthcare City.

Tasweek said the move to consider another development in Morocco is in line with its "aggressive expansion strategies".

It added in a statement that it aims encourage and facilitate more investment opportunities between the UAE and Morocco.

Masood Al Awar, CEO, Tasweek Real Estate Marketing and Development, said: "The launch of the new $55 million mixed-use development in Morocco reaffirms Tasweek's commitment to strengthen bilateral relations between the two countries.

"The project will offer further avenues for GCC investors in the African nation as an attractive, upcoming and lucrative investment destination."

Last month, Tasweek announced that it is considering a joint venture to build a new 26-hectare mixed-use housing, retail and hospitality complex in Indonesia.

The $300 million mixed-use development will rise in Bintan, the largest island in the Riau Archipelago of Indonesia, and will include one 250-room hotel; six 20-floor condominium towers with 7 units on each floor for a total of 840 units; 34 villas of varying sizes; and a 15,000m2 commercial area.

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