Five investment funds from UAE and Morocco have decided to join together to build a huge shopping mall in the capital city of Morocco, Rabat.
The mall would contain at least 200 stores, a luxury hotel and other facilities under a conformity which has been signed last week by the five funds. This project will be established on an area of 60,000 square meters.
It stated that the investors comprise the Wessael Capital, Casablanca-based Aksal Group, the Moroccan fund for touristic development and a Moroccan private equity style investment fund. The two other funds was not mentioned.
Report said the mall would be constructed close to Bou Regreg River, which is situated between the Western towns of Sale and Rabat, in addition that it would give almost 3,000 employments.
The project costs has not been divulged or when it would be unveiled but mentioned the investors as saying the mall is part of major Bou Regreg River advancement commenced by King Mohammed VI in May for the structure of services, houses, cultural and recreation centres, hotels and other facilities.
Report also stated those projects, with an area of 110 hectares (over one square km), would cost approximately 8.7 billion Moroccan dirhams.