MOROCCO — NOREBA, Morocco and Naif Alrajhi Investment have signed a partnership agreement that aims to develop projects worth over a billion Moroccan dirhams.

The contract was signed by both Sulaiman bin Saleh bin Sulaiman Alrajhi, NOREBA’s Managing Director in Morocco; and Naif bin Saleh Alabdulaziz Alrajhi, CEO of Naif Alrajhi Investment.

Sulaiman Alrajhi said the strategic partnership comes as a step further towards developing and enriching the company’s business and that it is the result of extended studies and experience within the real estate market in Morocco. He continued that the agreement aims to develop more premium residential and commercial projects to be sold in the future, turning NOREBA into one of the most influential real estate companies in Morocco and North Africa.

Naif Alrajhi said “our partnership with the leading real estate development company in Morocco, NOREBA has a great added value to our company and a gateway for us to enter the Moroccan Markets that will shape a starting point for more investments in North Africa, as it all falls within the framework of our strategic plan to diversify our investment range and to strengthen our presence in several markets and fields.”

Both parties have reassured that the partnership serves in strengthening the Saudi-Moroccan relations through business initiatives that reinforce the two countries’ cooperative scheme on all economic levels, and comes in line with thriving economic relations both countries have planned for coming few years; as well as the great interest shown by the Saudi and Moroccan business sectors for investments that serve the best interest of both countries.

Founded in 1988, NOREBA is considered to be among the leading and most active companies in the field of real estate development. The company’s towers and residential complexes are known across the region for their elegance and premium quality with over 30 years of experience in the field. — SG