Qatari Diar launches sales for luxury tourist resort destination in Tangier, Morocco (MO/QA)

Qatari Diar, a regional leader in sustainable real estate development, has announced the launch of Al Houara Resort, the luxury resort project to be developed in Tangier, Morocco. The $600 million (approx. €416 mln) Al Houara Resort is a luxury tourist resort, spanning 230 hectares of coastal land. The resort will be a top tourist resort destination drawing visitors from Europe, The Middle East and North Africa.

Illustration of the Morocco Al Houara project.

The development comprises two main components: a Tourist Combination including two 5-star hotels (620 beds), a 4-star hotel (888 beds) along side 1278 beds in residences related to Hotel/Tourism (Golf, Forest, Kasbah, Beach Apartments and Golf, Forest Villas), all of it with all the supporting facilities: an International Exhibitions/Convention Center, an 18-holes world-class signature golf club surrounded by state-of-the-art sports-and-recreation clubs, restaurants and cafes, in addition to a 'Kasbah' filled with traditional handicrafts and the typical Moroccan cultural feeling. The other component of this project is the Real Estate Combination: with 199 villas (Golf, Forest and Beach Villas) and 415 apartments (Golf, Forest, Beach and Kasbah Apartments).

With Al Houara Resort, Qatari Diar again committed itself to developing a healthy, sustainable community that puts the experience of its potential residents and visitors at the forefront of the planning process. By combining key elements of traditional Moroccan villages with state-of-the-art facilities and entertainment options, Qatari Diar will build a community that caters to the desires of the most demanding international clientele.

In addition to its focus on potential new residents and visitors, Qatari Diar's long-term investment approach has placed a unique emphasis on the well-being of Tangier's existing communities as well. "We did not come to Morocco just to build world-class hotels and facilities. We have come as representatives of Qatar, and hope that our development will show the people of Morocco that they have a true friend in our country," said Qatari Diar's CEO Nasser Al Ansari. "By taking a long-term approach to this development, Qatari Diar will help drive job creation in the region and will help reinvigorate the tourism industry that has been a staple of the Moroccan economy for decades. Qatari Diar hopes that our focus on enhancing the economic viability of the Al Houara region will have a positive enduring impact on the Moroccan people and on relations between Qatar and Morocco."

The construction process is expected to take approximately 24 months, with a targeted completion date of June 2009. Sales will be handled by Sotheby's International, with agents available in Casablanca, Morocco and Doha, Qatar.

"Qatari Diar is proud to bring our first major international development to Tangier, Morocco," said John Ward, the Chief Operating Officer for Qatari Diar. "We are dedicated to building a community that reflects the history and culture that has been synonymous with the great city of Tangier. Working with the people of Morocco, Al Houara will restore the glamour of old Tangier for future generations of residents and visitors."

Farid Ben Driss, Chief Development

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