Egyptian billionaire to build huge tourist complex in Morocco

Egyptian billionaire Samih Sawiris, at the head of a group of investors, is embarking on a major tourism project on the Moroccan Atlantic coast. Hotels, seaside resorts and other attractions are on the program of this complex which aims to boost the country’s tourism.

The consortium, composed among others of Orascom Investment (Sawiris’ company), Al Nowais and Eastern Investment Ltd, submitted a proposal to the Moroccan Competition Council to acquire all the shares of SAEMOG, in charge of the development of the Essaouira station Mogador.