FADESA plans to invest €450 million in its first resort on the Atlantic coast of Morocco (MA/ES)

The FADESA Group has been awarded a tender by the Moroccan government to develop an upscale tourist resort in the southern part of the country in Guelmim – Smara, right on the Atlantic coast opposite the Canary Islands. At the foot of Playa Blanca, a beach boasting 40 km of virgin sands, the Spanish company plans to build a large-scale project that will cover an area of some 632 ha., entailing an investment of nearly €450 million.

FADESA plans to build over 5,000 homes, 1,338 of which are earmarked to be residential flats; 865 residential villas; 1,850 tourist flats; and 980 tourist villas. The hotel complex will be made up of eight 4- and 5-star establishments, the first of which are scheduled to open in 2012. Among its many other services and leisure facilities, Playa Blanca will complete its offer with an 18-hole golf course, a retail center, including handicrafts shops and a spa.

Boasting a privileged setting, only 45 minutes from Guelmin's airport and located opposite the coast of the Canary Islands Playa Blanca, aspires to become one of Morocco's major tourist destinations 365 days a year. In this aspect, in addition to its many services, the complex enjoys a mild climate all year round, with temperatures ranging from 17 degrees in winter to 28-30 degrees in summer.

The resort, which targets a medium to upscale clientele from Spain, Morocco and Great Britain, will generate a total of 13,000 jobs, both directly and indirectly and the development will be fully completed in roughly 8 years. This complex is a strategic project of the Plan Azur Visión 2010, designed by the Moroccan Government to attract 10 million tourists a year and to generate 600,000 new jobs.

Source: FADESA

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