ABU DHABI - Abu Dhabi Investment House (ADIH), a leading investment firm in the region, announced the commencement of infrastructural work in the last phase for its latest project, Porta Moda Marrakesh, Morocco. The project’s total cost is approximately $1 billion and will be developed on a total area of more than 306,000 sqm.
Porta Moda Marrakesh is an extension to the unique $7 billion Porta Moda concept ADIH launched earlier this year. The project encapsulates the idea of redefining quality of living and streamlined education.
The concept’s main elements which will be implemented within Porta Moda Marrakesh include luxury living, culture, fine dining, exclusive retail shopping, fashion and design education, renowned boutique spas and resorts, entertainment - all with a concentration of style and fashion.
Porta Moda Marrakesh, like all other Porta Modas ADIH intends to launch internationally, is designed to be established as the hub of fashion and style within Morocco and the area surrounding it, given its geographical proximity to Europe and the Middle East altogether.
Fawaz Ali Al Jowder, deputy CEO - ADIH, said: “We have already started the infrastructural work for the last phase of this exciting project in Marrakech. Once this is completed, development work will start immediately after. We have on-board a highly professional team including international experts in master-planning, development and consultancy in the field. We aim to add value to this great destination and help redefine luxury and uniqueness.”
In addition to governmental stability, Morocco enjoys numerous advantages as a destination. It is considered one of the leading cultural hubs in North Africa, as well as, being a major destination for Europeans and people from the region to visit. The real estate market in Morocco is one of the growing and booming sectors as there is high demand for housing - with increased tourist traffic to the country.
ADIH’s Porta Moda Marrakesh will help address housing issues, employment, as well as, providing education and training on the hands of international experts in the fields of fashion and design.
Porta Moda Marrakesh is located 7km from the city’s airport, taking advantage of the popularity of the area surrounding it.