DOHA: An investment agreement has recently been signed in Rabat between Qatar National Hotels Company (QNH) and the government of Morocco for the rehabilitation of Tazi Palace in Tangier.
The agreement was signed by the Minister of Industry, Trade and New Technologies, Ahmed Reda Chami and the Chief Executive Officer of QNH, Hamad Abdulla Al Mulla.
The signing ceremony was also attended by representatives of the Ministry of Economy and Finance and Ministry of Tourism and Heritage in Morocco and the Moroccan Agency for Investment Development.
QNH is to invest $55m for converting the former palace into a high-end five star hotel consisting of 120 luxurious rooms, two VIP villas and one Royal villa, a spa, a fitness centre and a business centre, in addition to state-of-the-art conference and banqueting facilities.
The project is expected to cover a total area of 36,000 sq m which includes an overall built up area of 9,500 sq m and gardens with lush vegetation and areas for walking and relaxation, water bodies, an outdoor pool and a golf course. The project is forecasted to generate more than 200 jobs for the local residents.
"Our investment in rehabilitating the Tazi Palace in Tangier aligns with QNH's strategic plans for international expansion, being our second venture in North Africa. Located in an area with rich cultural heritage and tourist attractions, Tazi Palace will become one of the gems in our portfolio of luxury hotels that carry the glory of ancient times of magnificence," said Al Mulla.
© The Peninsula 2011
