Rabat, May 4th, 2007 (WAM) -- DAMAC Properties, the largest privatesector master developer and luxury lifestyle provider, is planning toenter the promising Moroccan market by next year, Hussain Sajwani, Chairman of DAMAC Holding, parent company of DAMAC Properties.

''We are on the process of conducting feasibility studies to builda mega tourism project on one of Morocco's coastal cities at the valueof US$ 1 billion,'' Sajawani said as quoted by Moroccan daily paper ''AlSabah''.

He noted that making foray into the Moroccan market was motivatedby the booming Moroccan economy.

He disclosed that executives of the Group had held a series of talkswith Moroccan ministers and a deal is expected to be signed before theend of the year.

The investment project in Morocco is part of a five-nation expansion plan launched by the Group. The other four countriesare Egypt, Tunis, India and Pakistan.