Royal Resort Cap Malabata formally launched

Signaling the start of development of the first phase of the US$ 1.4 billion Gateway to Morocco project in the Kingdom of Morocco, H.E. Mizwar Salahuddin, Minister of Industry & Commerce, today formally inaugurated the Royal Resort Cap Malabata Client Relations Centre (CRC).

Mr. Jalloul Samsam, the Director of the Regional Investment Center of Tangier , H.E. Driss Khazani, the Wali of Tetuan, Mr. Mohammed Al Arif - Mayor of Fahs Anjara, Mr. Toufiq Hijaira, Minister Delegate to the Prime Minister in charge of Housing and Urbanism, Mr. A.Rahman Al Jasmi, Deputy CEO of Gulf Finance House, H.E. Salahuddin Mizwar - Minister of Industry & Commerce, Mr. Esam Janahi, CEO & Board Member of Gulf Finance House, Mr. Hassan Barnousi - Director of International Investments for the Government of Morocco


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A unique mixed-use tourism, commercial and residential destination in the city of Tangiers, the circa US$ 600 million Royal Resort Cap Malabata development is one of the two distinctive but complementary elements of the US$ 1.4 billion Gateway to Morocco project, the second element being Royal Ranches in Marrakech.

Royal Resort Cap Malabata was launched at a press conference followed by a high-profile function attended by Mr. Toufiq Hijaira, Minister Delegate to the Prime Minister in charge of Housing and Urbanism, H.E. Driss Khazani, the Wali of Tetuan, Mr. Mohammed Al Arif, the Mayor of Fahs Anjara, Mr. Jalloul Samsam, the Director of the Regional Investment Center of Tangier and Mr. Hassan Barnousi, Director of International Investments for the Government of Morocco.

Other attendees included top government officials, an array of senior dignitaries, VIPs, Gulf Finance House (GFH) senior management, members of the Diplomatic Corps, investors, strategic partners, international tourism operators and hoteliers.

The event commenced with the inauguration of the CRC followed by a guided tour of the vicinity, a laser show and cultural programme, and ended with a grand reception.

Mr. Esam Janahi, Chief Executive Officer and Board Member of GFH, a leading MENA region Islamic investment bank and promoter of the Gateway to Morocco project, said
"On behalf of the Board of Directors of GFH, I would like to thank His Majesty King Mohammed VI for his continuous support for the Gateway to Morocco project and his strong commitment in encouraging Foreign Direct Investment (FDI) flow into the Kingdom of Morocco and developing the economy. I would also like to thank H.E. Mr. Driss Jetou, the Prime Minister of the Kingdom of Morocco for all the support provided by the Moroccan government. We look forward to the continued encouragement of the Government towards foreign investment."

"The Moroccan economy has experienced excellent growth over the last few years. Additionally, Morocco is a farsighted real estate investment location offering all the right natural elements for a harmonious environment.

Tangiers with its beautiful beaches, and its close proximity to Europe, Mediterranean environment, language, accessibility, culture, amongst other striking features provided the ideal setting for the Royal Resort Cap Malabata project.

'Royal Resort Cap Malabata will positively contribute to the overall social and economic framework of Morocco by enhancing FDI flow, offering investors with a new attractive investment opportunity and by directly and indirectly creating a quantum of new jobs in the Kingdom,' Mr. Janahi added.

Designed as a one-of-a-kind mixed-use tourism, commercial and residential destination on the Mediterranean coast, Royal Resort Cap Malabata in the city of Tangiers, will cover a total area of 127 hectares. It will feature cafes, galleries, exclusive shopping areas, beach house, 9-hole golf course, equestrian club and convention centre. Royal Resort Cap Malabata will also provide the international business community with an exclusive destination for corporate meetings, conventions and exhibitions. The resort will also include a private school as well as a clinic equipped with the latest medical facilities.

The new on-site state-of-the-art CRC will serve as a fully integrated sales and support centre for developers, and also function as a hub for promoting and advertising the development. Moreover, the CRC will host guests, investors, events, press conferences, meetings and site tours.

Commenting on the Royal Resort Cap Malabata development, H.E. Mohammed Hassad, the Wali of Tangiers, said: 'We are extremely excited about the launch of the Royal Resort Cap Malabata project and look forward to its completion. This is indeed a significant development as it will position Tangiers as a unique and wholesome destination catering to a broad spectrum of tourists, businessmen and residents. Furthermore, the resort will generate important new business and corporate hospitality revenue by attracting regional and international tourists."

'Gateway to Morocco', estimated at US$ 1.4 billion, adds to GFH's existing investment and project portfolio in the Kingdom of Bahrain, the Kingdom of Saudi Arabia, the United Arab Emirates, the State of Qatar, Kuwait, the Hashemite Kingdom of Jordan, the Arab Republic of Egypt, India, Germany, Spain and France.