31 July 2007
The construction work at RealMaroc, Bahrain-based RealCapita's one of the largest housing projects, kicked off yesterday paving the way for the construction of 2,300 social housing units by Jet Sakane on a103,000 square metres land at Kenitra City, located at the west of Morocco.
"Since the launch of RealMaroc till today, every step we're taking in RealMAROC's project is a successful move, and here we are today committed to our initial plan and have started the construction activities on Kenitra City" said Mohammed AlTawash, the Vice Chairman-President of RealCapita and the Chairman of "House Invest".
"Today we stand proud and announce the construction in one of our best projects at RealCapita," said Qais AlMaskati, Executive Vice President of RealCapital. "One of the main reasons for choosing this location is the proximity to the Capital Rabat and the boom in the level of economic activities witnessed in the city recently" he added.
RealCapita has formed a joint venture in the Kingdom of Morocco with country partner Jet Asset Management to undertake the development of 22,400 Social Housing Units costing approximately $450 million, with assistance of the government of Morocco. The development seeks to develop the entire project over a period of four years across a number of major cities in Morocco.
Jet Sakane is among the most specialised affordable housing unit development and management companies in Morocco. In addition it was awarded the Ministry of Industry and Commerce's real estate quality award in 2005.
Kenitra is a city located at the west of Morocco, on the coast of the Atlantic Ocean, with a 40km distance from the capital Rabat, and estimated population of 400,000.
The construction work at RealMaroc, Bahrain-based RealCapita's one of the largest housing projects, kicked off yesterday paving the way for the construction of 2,300 social housing units by Jet Sakane on a103,000 square metres land at Kenitra City, located at the west of Morocco.
"Since the launch of RealMaroc till today, every step we're taking in RealMAROC's project is a successful move, and here we are today committed to our initial plan and have started the construction activities on Kenitra City" said Mohammed AlTawash, the Vice Chairman-President of RealCapita and the Chairman of "House Invest".
"Today we stand proud and announce the construction in one of our best projects at RealCapita," said Qais AlMaskati, Executive Vice President of RealCapital. "One of the main reasons for choosing this location is the proximity to the Capital Rabat and the boom in the level of economic activities witnessed in the city recently" he added.
RealCapita has formed a joint venture in the Kingdom of Morocco with country partner Jet Asset Management to undertake the development of 22,400 Social Housing Units costing approximately $450 million, with assistance of the government of Morocco. The development seeks to develop the entire project over a period of four years across a number of major cities in Morocco.
Jet Sakane is among the most specialised affordable housing unit development and management companies in Morocco. In addition it was awarded the Ministry of Industry and Commerce's real estate quality award in 2005.
Kenitra is a city located at the west of Morocco, on the coast of the Atlantic Ocean, with a 40km distance from the capital Rabat, and estimated population of 400,000.
© Bahrain Tribune 2007
