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, 2 golf courses, a marina and city center facilities. The first phase will encompass five hotels and approximately 1,100 real estate units.

www.chbika.ma