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Gulf Company to launch USD-800-million project in Morocco
Economics 9/9/2008 3:17:00 PM
KUWAIT, Sept 9 (KUNA) -- Gulf Holding Company said it would enter the Moroccan market by implementing a project that is part of a royal resort developed by Gulf Finance House with investments of USD 800 million.
The project has a distinguished strategic location at the conflux of the Mediterranean Sea and Atlantic Ocean, Ahmad al-Amir, deputy chairman and CEO of the company, told a news conference.
The project is part of a Moroccan vision purposed to draw 10 million tourists by 2010, he said.
In this context, he pointed to Morocco's advantages, mainly proximity to Europe and trade deals with the EU and US as well as tax exemptions.
The project also comes within the framework of the company's middle-term strategy aiming to explore fresh investment openings in several promising markets, he added. Bahrain-based Gulf Holding Company is a new Gulf investment company where several Kuwaiti institutions and individuals hold influential shares.
Economics 9/9/2008 3:17:00 PM
KUWAIT, Sept 9 (KUNA) -- Gulf Holding Company said it would enter the Moroccan market by implementing a project that is part of a royal resort developed by Gulf Finance House with investments of USD 800 million.
The project has a distinguished strategic location at the conflux of the Mediterranean Sea and Atlantic Ocean, Ahmad al-Amir, deputy chairman and CEO of the company, told a news conference.
The project is part of a Moroccan vision purposed to draw 10 million tourists by 2010, he said.
In this context, he pointed to Morocco's advantages, mainly proximity to Europe and trade deals with the EU and US as well as tax exemptions.
The project also comes within the framework of the company's middle-term strategy aiming to explore fresh investment openings in several promising markets, he added. Bahrain-based Gulf Holding Company is a new Gulf investment company where several Kuwaiti institutions and individuals hold influential shares.