(MENAFN - Arab News) Abu Dhabi Investment House (ADIH) has launched 400 million Porta Moda Marrakech project in Morocco. The celebration to mark the launch was attended by senior Moroccan government officials, foreign investors and international media.
Porta Moda Marrakesh is the first project of the company in North Africa. The 7 billion Porta Moda project is ADIH's latest mixed-use venture designed to be implemented in Marrakech, Tunis, Qatar, Abu Dhabi and India.
It consists of components such as living, hospitality, retail, fashion and entertainment as well as education — all with a focus on style and design aspect.
Rashad Y. Janahi, board member and managing director of ADIH, said in a speech at the press conference, "Firstly, I would like to take this opportunity to express our gratitude to His Majesty King Mohammed the Sixth, King of the Kingdom of Morocco for his patronage and support to investment projects within Morocco and his flexible economic policies and approach."
Porta Moda Marrakech offers job opportunities to the local community as well as creates a hub for style, retail and high-end living. It will be located on an area of more than 306,000 sq m with investments of up to 450 million.