Sep 28 2005 |
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The King of Morocco Visits Fadesa's Mediterrania Saïdia Development
Accompanied by the Chairman of FADESA and around fifty Moroccan public figures and dignitariesSaïdia (Morocco) - The King of Morocco, Mohammed VI, accompanied by the Chairman of FADESA, Manuel Jove Capell?n, and around fifty public figures and dignitaries from the political and business world in Morocco, made an official visit to Mediterrania Saïdia, the Spanish company's star development on Morocco's Mediterranean coast.
The event was organised as a result of the Moroccan King's interest in visiting "business projects which are of great socio-economic importance to the country". FADESA's resort is included among these projects, under the framework of the National Human Development Initiative (NHDI).
FADESA's team in the area informed the delegation headed by Mohammed VI of the progress being made at the Mediterrania Saïdia development. This was followed by the symbollic ceremony of laying the first stone to mark the start of the building of the social housing which is part of the development. This housing will be used by the people working at the different establishments which make up Mediterrania Saïdia. Finally the King, accompanied by the other dignitaries, made a tour of the the whole development.
One of the most important Spanish investors in Morocco
FADESA has had a presence in Morocco since the year 2000. It started its activities in the country with two large social housing projects in Rabat and Agadir, with over 3,000 homes where the residents are currently moving in, as well as a 4-star hotel right in the centre of Casablanca, which will be completed before the end of the year. Following on from this, and after being awarded the Mediterrania Saïdia development, one of the country's largest holiday resorts, in 2003, FADESA strengthened its position as one of the most important Spanish investors in Morocco. On 16th June last year the company, chaired by Jove Capell?n, together with the property group Anjoca, was awarded Tangiers City Center, a large residential, holiday and shopping development in the city of Tangiers. The company is also considering other major projects in Morocco.
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About FADESA
FADESA is one of Spain's major property companies and specialises in the development of large-scale first and second home residential complexes, combined with ownership of hotels and golf courses linked mainly to its residential business. The company, chaired by Manuel Jove Capell?n, has been operating for more than 20 years and has more than 27,000 homes under development, with over 100,000 homes in its portfolio. It is active in Spain, Portugal, Morocco, Hungary, Poland and France and is currently involved in a programme of international expansion. In 2004 FADESA achieved consolidated net profits of €120.3 million, or an increase of 41% compared with 2003. Its consolidated sales in 2004 amounted to €686.5 million. As at 31 June 2005 FADESA's land bank comprised buildable area of 18.4 million square metres.
For further information please contact:
Belén Rey
Head of Communication
FADESA GROUP
Tel. 981 17 92 00
Tel: 981 17 92 38
Fax: 981 17 00 50
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