By Karima Rhanem | Morocco TIMES 12/11/2005 | 1:05 pm
Dubai International Holding (DIP) has begun the work on the USD 2 billion Amwaj project in Rabat. The master plan of the project is close to completion. Construction work should begin in the first quarter of 2006, reported the company release.
Located on 100 hectares of land, Amwaj will include components that will make the Bouregreg area of Rabat an attractive tourist destination. It will feature a harbour for yachts, five-star hotels and resorts and a convention centre to host international events and conferences.
The Project Management Contract has been given to Hill International consulting company. The Architectural and Engineering Design Contract has been awarded to Bernard Reichen Company, and the Interior Design Contract has been granted to world-renowned designer Jean Nouvel
Morocco and the United Arab Emirates signed on May the USD 2 billion agreement to carry out the first phase of the 'Amwaj' project which DIP will execute in the Oued Bouregreg valley, which separates Morocco's capital Rabat from Salé.
The agreement was signed by DIP and two Moroccan partners, including the Caisse de Dépôt et de Gestion (CDG), and SABR Management.
This plan aims at putting the Moroccan capital on the map as one of the most important coastal cities. The project will boost trade and tourism sectors in the city.
Amwaj is part of the Oued Bouregreg project launched by HM King Mohammed VI last year in the historic Bouregreg valley. The plan covers over 4,000 hectares, starting down river from the Sidi Mohammed Ben Abdellah dam.
The planning and development project of the 'Bouregreg' banks guarantees the preservation of the spirit and the cachet of the site through safeguarding the ecological environment of the valley.
The project will create 74,000 indirect job opportunities and 34,000 direct job opportunities. This will boost the income of the citizens and catalyze the economic growth by developing the tourism sector in Rabat, Salé and its region.
DIP is the International Investment arm of Dubai Holdings, the Dubai-based real estate company, which has a variety of real estate projects not only in Dubai but also outside the UAE.
Dubai Holdings was initially established to undertake real estate projects like Dubai Health Care City, Dubai Humanitarian City, Arab Radio Network. Some of their other real estate projects include Business Bay, Jumeiarh Beach Residence, The Villa and the World Trade Center.