Egyptian hotel group Pickalbatros has secured a $200 million loan from the World Bank to finance the construction of four new hotels in Morocco, according to a statement from the company's president, Kamel Abou-Aly. The announcement was made on June 18, 2026.
The financing will support the expansion of Pickalbatros' portfolio in the kingdom, with projects expected to create thousands of jobs and boost tourism infrastructure. The World Bank's involvement underscores confidence in Morocco's tourism sector recovery.
Pickalbatros currently operates several resorts in Egypt and Morocco. The new hotels will be located in key tourist destinations, though specific locations were not disclosed. The group aims to capitalize on growing demand for leisure travel in North Africa.
The loan is part of the World Bank's broader strategy to support sustainable tourism development in emerging economies. No further details on the repayment terms or project timelines were provided.
