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Al Futtaim plans Morocco project
- United Arab Emirates: Monday, June 15 - 2009 at 12:00
Marwan Shehadeh, managing director of Al-Futtaim Capital, the investment arm of the Al-Futtaim Group, said the firm is in the final stages of acquiring a 7 million square metre plot in Bouznika on the Moroccan Atlantic coast, where up to 42,000 residential units would be built. He said the total development cost of the project will be 'in excess of a couple of billions of dollars', adding the project was subject to Moroccan government approval.
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