The Head of Government Presides Over the Signing Ceremony of the Agreement for the Development of the "Mogador" Tourist Resort

On Thursday, December 19, 2024, the Head of Government, Aziz Akhannouch, presided over the signing ceremony of an agreement for the development of the "Mogador" tourist resort, in the presence of His Majesty the King’s Advisor, Mr. André Azoulay. The project involves an investment of 2.3 billion dirhams. This major initiative aligns with the goal of strengthening tourism's role as a driver of Morocco’s socio-economic development, in accordance with the enlightened vision of His Majesty the King.
 

 The agreement was signed by a consortium of investors, including Mr. Samih Sawiris, Mr. Hussain Al Nowais (Al Nowais Investments LLC), and Mr. Hossam El Shaer (Eastern Investment LTD). These investors plan to mobilize 50% of the investment for the "Mogador" resort by 2030.
The "Mogador" resort project, strategically significant for both the local and national economy, aims to increase accommodation capacity to 3,700 beds—representing a 35% increase in Essaouira's current capacity. Additionally, the project is expected to create 20,000 direct and indirect jobs.
The development plan includes the expansion of the Sofitel Mogador hotel, the creation of three beachfront hotels, a "Club Med," a beach club, a leisure village, and a golf course, thereby enhancing Essaouira’s appeal as a hub for cultural and sports tourism.
In his address, the Head of Government emphasized that this project will bolster Morocco's position as a leading tourist destination, owing to the economic and social dynamism it will bring to the tourism sector, particularly in Essaouira. He recalled His Majesty King Mohammed VI’s vision of transforming Morocco’s Atlantic coastline into a space for communication, economic synergy, and continental and international influence.
The Head of Government also highlighted the exceptional nature of this project, which represents a cornerstone in Morocco's ongoing process of construction and development. It contributes to the modernization of urban infrastructure in line with His Majesty the King’s vision, may God glorify Him.
He further reiterated the government’s commitment to promoting investments in the tourism sector and other strategic fields, contributing to value chains and job creation. He noted that the government provides a variety of tools and mechanisms to ensure the optimal implementation of such projects.
This ambitious project in Essaouira, a city symbolic of cultural diversity and world heritage, is part of a broader vision to revitalize tourism in Morocco, combining strategic investments, the creation of quality jobs, and the preservation of the country’s cultural and natural heritage.
The ceremony was also 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 in charge of Investment, Convergence, and Evaluation of Public Policies, Karim Zidane; the Minister of Energy Transition and Sustainable Development, Leila Benali; the Governor of Essaouira Province, Adil El Maliki; the Director General of the Moroccan Tourism Engineering Company (SMIT), Imad Barrakad; the President of the Municipal Council, Tarik Othmani; and several other personalities and senior officials, including representatives of the banking sector.