By: Amr Adel
Dubai - Mubasher: Eagle Hills Morocco, a subsidiary of Abu Dhabi developer Eagle Hills, announced plans to invest in a new real estate project in Morocco before the end of 2016, in addition to its current La Marina Morocco in Rabat, a top Eagle Hills official has said.
The company is considering tourist sites for the project and is in talks with government bodies and Moroccan firms, M'hammed El Merini, general manager of Eagle Hills Morocco, told Mubasher on Tuesday.
The subsidiary is expected to launch the new project, which will be the same size as La Marina Morocco or may be larger, before the end of this year, El Merini added on the sidelines of Cityscape Global 2016.
In June, Eagle Hills Morocco commenced construction works on the first phase of La Marina Morocco to establish Fairmont Residences La Marina Rabat-Salé worth around AED 550.97 million ($150 million).
The project is scheduled for delivery in 2019, the top official added.
We are currently in talks with Moroccan and international banks to receive financing for half of the project costs, El Merini stated.
Translated by: Julian Nabil
