The Moroccan Ministry of Tourism said it recently signed a memorandum of understanding to revive Essaouira Makador Station Development Company (SAEMOG) with an alliance of 4 foreign investors led by Egyptian businessman Recep Samih Sawiris. over 4 billion dirhams ($385 million).
A ministry statement released by the official Moroccan news agency said the MOU aims to refurbish and expand the current hotel, convert the current clubhouse into a “boutique hotel”, build another new clubhouse, develop “Club Med” and three others. hotels overlooking the waterfront, in addition to the creation and expansion of a shopping and recreational area in the village of Mogador, as well as the development of real estate projects.
This investment aims to revive the Mogador resort, increase its capacity and expand its entertainment offer, thereby increasing the attractiveness of Essaouira among international tourist destinations.
The project is of great importance, especially as it will lead to the creation of more than 4,000 jobs, thereby contributing to the socio-economic development of the region.
