UAE's Tasweek in $3bn Morocco investment drive

Abu Dhabi-based Tasweek real estate development and marketing company and other UAE investors intend to inject nearly three billion US dollars into health and tourism projects in Morocco, its CEO was reported on Sunday as saying.

“These projects will be financed totally by UAE investors.

"Tasweek is spearheading these investments in Morocco considering the available business opportunities and the great incentives offered to UAE investors in that country,” Masoud Al Awar told Morocco’s Arabic language daily 'Hespress'.

He said Tasweek has nearly completed a 60-million-dollar healthcare and residential city in northwestern Marrakesh and that it would be inaugurated in September.

He did not identify the other investors but said similar projects would be constructed in the northern port of Tangier, central port of Agadir and the Western Atlantic Ocean port of Casablanca, Morocco’s largest city.