Pierre and Vacance 270 million euro to invest in Morocco

France and Pierre Vacance, operating in holiday resorts, will invest in 270 million euro tourism project in Morocco property as 10 000 beds.

The investment program includes the construction of tourist resorts in the cities of Marrakesh and Agadir, and tourist homes and apartments in Tangier, Rabat and Casablanca.

A total of 2 264 units/apartments will be built by 2013, in accordance with the memorandum of understanding signed between the biggest operator in Europe on holiday resorts and the Moroccan government during the 9 ministers, the joint meeting held in Rabat.

The project will create 700 direct jobs and stable, Ministry of Tourism said.

During the meeting, co-chaired by Moroccan property prime-minister, Abbas El Fassi, and its French peer, Francois Fillon, the two countries signed 16 tie-ups.