October 30, 2007

Rabat - The Blue and White City

Dubai-UAE: 30 October, 2007 - The Kingdom of Morocco is the most westerly of the North African countries. Fringed by the Atlantic and Mediterranean coastlines, although with a rugged mountainous interior, it has absorbed a rich cultural blend of Arab, Berber, European and African influences. Rabat, the capital city of Morocco, is one of the most popular tourist destinations in the world. It has replaced the ancient city of Fez as the official capital, and hosts the Royal Palace of His Majesty King Mohammed VI. Farhan Faraidooni, Executive Chairman of Sama Dubai, said: "Rabat's stature as an international tourism destination has grown over the years following several government initiatives. At present, new policies are being implemented to further develop the city's tourism infrastructure." Morocco has one of the fastest growing real estate markets in the region. There are several reasons for this, the main ones being Morocco's economic stability and a highly favourable investment climate. "Many foreign nationals have invested in Morocco's dynamic real estate sector. Most of these investments are heavily focused on commercial real estate as well as on holiday homes," added Faraidooni. Under the leadership of His Majesty King Mohammed VI, the Moroccan government's policies to diversify its economy and expand beyond the agriculture sector have met with great success. As part of these initiatives, the government has also put in a concerted effort to develop policies to make the country more attractive to Arab and Gulf investors. As the international real estate investment and development arm of Dubai Holding, Sama Dubai has capitalised on the opportunity provided by Morocco's investment climate with the launch of the US$3 billion Amwaj real estate project. Located on the banks of Bouregreg River Valley in an idyllic setting between the cities of Rabat and Sale, close to the Atlantic Ocean, the 121-hectare Amwaj project aims to evolve as the new heart of the capital, offering an upscale lifestyle to residents and visitors in an exclusive Moroccan setting. "Upon its completion, Amwaj will accelerate the economic development of Morocco, and stand as an icon that epitomises the strong relations between the two countries," Faraidooni added. Complementing the beauty and magic of the Bouregreg River, Amwaj has been designed by TRO/Jung Brannen Associates in cooperation with Reichen et Robert & Associes. Backed by 135 years of combined experience in international architecture, design, engineering and master planning, TRO/Jung Brannen Associates has a strong lineage of exceptional and responsive design. Sama Dubai is also collaborating with top Moroccan and international consultants such as OGER International Maroc in cooperation with CID (Conseil Ingenierie & Developpement). Under construction on a network of navigable canals, Amwaj will be a pedestrian friendly city featuring high quality apartments, landscaped public spaces, offices, retail outlets, signature hotels, a convention centre, and a mix of entertainment facilities. Leisure and entertainment features at Amwaj will include marinas, plazas, cinemas, theatres, souks and malls that charm and enthral residents and visitors. The project will also include modern and luxurious world class hotels dedicated to business and leisure guests. The overall hotel capacity has been suitably designed to ensure enough room to host major international events in Amwaj's world class convention centre. While offering a holistic experience of Rabat's rich historical heritage, the development will provide convenience and connectivity to modern amenities. For a glimpse into the true essence of Morocco and magnificence of Amwaj, visit Cityscape Dubai 2007, the region's largest business-to-business real estate investment and development exhibition, where - for the first time ever - a full scale model of the project will be on display for visitors to experience its grandeur.