Morocco to invest $230 million in new Mogador resort

Morocco is planning to build a new Mogador resort, near Essaouira, for a total investment on $230 million.

The new resort will be funded by a consortium of investors, including Samih Sawiri, Hussain Al Nowais, and Hossam El Shaer, who committed to fund 50% of the investment, the head of the government office said in a statement.

The investment will help the resort reach a bed capacity of 3700, which would increase the overall bed capacity in Essaouira by 35%, the statement said.

The new resort will also help create 20,000 direct and indirect jobs.

The project includes extension of the existing Sofitel Mogador and the construction of three hotels with a sea view, a Club Med, and a Beach Club in addition to an entertainment village and a golf course.