Qatari Diar Real Estate Investment Company has plans to venture into a large-scale investment project in the Middle East and North Africa (MENA) in the very near future, an official source told Zawya.
According to the source, speaking on condition of anonymity, the company is looking at the Moroccan city of Tangiers, where it plans to construct a five-star conference hotel complex comprising 300 rooms. Individual villas will surround the main building, with vistas overlooking the shores of the Atlantic Ocean, in addition to an 18-hole golf course, a beach club and a retail commercial center.
The source added that the total cost of the project has been estimated at around USD 300 million, but did not confirm whether the investment firm will be responsible for managing the property, which will be part of an international hotel chain.
The hotel will be the first project for Qatari Diar in Morocco. The company has investments in over 35 countries worldwide, valued at more than USD 45 billion.
