In 2007, the Group entered into a development agreement with the Government of Morocco to develop Chbika, an integrated self-sufficient tourist destination in the south of Morocco. Located approximately 300 km south of Agadir on the Atlantic Ocean, the project's total land bank amounts to 15 million sqm.

The project is intended to be developed in collaboration with the Caisse de Depot et de Gestion (CDG), where the Group has signed a shareholder's agreement with CDG. Among the planned components are 8 hotels with a capacity of 2,500 guest rooms, 1,166 apartments and 685 villas, and atmospheric riads. Chbika like all other Orascom Development signature towns will feature state-of-art facilities including an 18-hole championship golf course, a world class marina with a capacity of 100 berths, shops, dining outlets, as well as a medina-style handcraft center and a medical facility. The first phase will encompass five hotels and approximately 1,100 real estate units.

www.chbika.ma