|12-17-2014, 08:46 PM||#1|
Skyscraper to be built in Morocco by a Dubai-based company
Africa`s tallest skyscraper is to be built by next June in Morocco by a Dubai-based company Middle East Development LLC owned by the Saudi businessman, Tarek Binladen, as a new starting point for Gulf investment and further mega projects.
The skyscraper will be 540-metre long and will be built in Casablanca and is almost the double of the height of the current tallest tower in Africa that is 223-metre long and is projected to be completed by June 2018.
“It will be Africa’s highest tower,” said project manager Amede Santalo
The project is estimated to cost $1 billion and will most probably be called "Al-Noor Tower", which is Tower of Light in Arabic yet it may eventually be named after the kingdom`s name; King Mohamed VI.
Morocco arise as one of the most attractive destinations since it has various constituents that make it eligible of having new investments.
Also the main reasons behind the increase in Gulf investment in Morocco is the increasing role of Morocco in both Islamic and Arab countries, as well as worldwide. In addition, the political stability, compared to other Arab countries, and vivid developmental and economic policies set by the government have played another key role.
The major investment key area in Morocco is the agricultural sector where a Moroccan-Gulf fund was established by mid-2013 with a capital of $1 billion to enhance investments in the agricultural sector.
The second key investment area of the kingdom is the tourism, especially after the GCC have granted Morocco $5 billion in 2012 to endorse projects related to tourism while further new mega projects are projected
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