The agreement was signed with a consortium of Middle Eastern tourism leaders, including renowned investors Naguib Sawiris, Hussain Al Nowais and Hossam El Shaer, who have committed to making 50% of the investments in the “Mogador” resort by 2030, according to a press release from the Head of Government’s department.
The Mogador Resort project, which is of strategic importance to local and national economy, aims to increase accommodation capacity to 3,700 beds, representing a 35% increase in Essaouira’s current capacity. It will also create 20,000 direct and indirect jobs.
The project includes the extension of the Sofitel Mogador hotel, the creation of three beachfront hotels, a Club Med, a Beach Club, a leisure village and a golf course. This will further enhance Essaouira’s appeal as a boardsports and cultural tourism destination.
In an address on this occasion, Akhannouch emphasized that this project would help strengthen Morocco’s position as a leading tourist destination, given the economic and social momentum it could generate in the tourism sector, particularly in the city of Essaouira.
He recalled HM King Mohammed VI’s call to transform the Atlantic region into a space for human interaction and economic integration, and to make sure it plays a key role at continental and international levels.
Akhannouch also emphasized the importance the government attaches to encouraging investment in the tourism sector, as well as in other sectors that contribute to value chains and the creation of job opportunities, noting that the government provides investors with a wide range of tools and mechanisms for the optimal implementation of their projects.
This ambitious project, located in the heart of Essaouira, a symbol of cultural diversity and universal heritage, is part of a global vision for the development of tourism in Morocco, combining strategic investment, job creation and the enhancement of the Kingdom’s cultural and natural heritage.
The ceremony was attended by the Minister of Economy and Finance, Nadia Fettah, the Minister of Tourism, Handicrafts and Social and Solidarity Economy, Fatim Zahra Ammor, the Minister Delegate to the Head of Government, in charge of Investment, Convergence and Evaluation of Public Policies, Karim Zidane, the Governor of the Province of Essaouira, Adil El Maliki, the Managing Director of SMIT, Imad Barrakad, the President of the Essaouira Local Council, Tarik Othmani, as well as a number of personalities and senior officials, notably from the banking sector.
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