A consortium of Egyptian and Emirati companies has signed an agreement to develop a major tourism project in the Moroccan city of Essaouira. The investment is valued at $2 billion, according to official announcements from the Moroccan government and the involved parties.
The project, named "Mogador Essaouira," will be developed on a 200-hectare site. It is designed to include luxury hotels, residential villas, a golf course, and various leisure and commercial facilities. The development aims to significantly boost the region's tourism capacity and economic profile.
The consortium is led by Egypt's Talaat Moustafa Group (TMG) and includes Emirati partners from Abu Dhabi. The agreement was formalized in a signing ceremony attended by Moroccan officials, including the Minister of Tourism, and representatives from the investing companies. The project is framed as a strategic partnership reinforcing economic ties between Morocco, Egypt, and the UAE.
Authorities state the development will create thousands of jobs during the construction and operational phases. The project aligns with Morocco's national tourism strategy, "Vision 2030," which seeks to attract high-value investment and position the country as a leading global destination.
