Invest in Tangier: Bonyan signs with Veritas for USD 1.4 billion Gateway to Morocco

Bonyan International signs joint agreement with Bureau Veritas to manage Morocco & North Africa projects
Bonyan International, which recently established its Head office in the Kingdom of Bahrain, announced at a press conference yesterday its joint partnership with Bureau Veritas, an international company based in Paris, to jointly handle the project management of the USD 1.4 billion 'Gateway to Morocco' project, owned by Gulf Finance House (GFH).

The agreement was marked by an official signing ceremony between Mr. Imad Nesnas, Chairman and CEO, Bonyan International; and Mr. Bruno Ferreyra, Regional Chief Executive for Middle East, Bureau Veritas.

"Bonyan International is proud to form this solid alliance with Bureau Veritas for the successful implementation of this unique and culturally imbued project, which comprises two distinctive and prestigious developments: Royal Ranches (Marrakech) and Royal Resort Malabata (Tangier)," explained Mr. Nesnas"

Currently, infrastructure works completion is projected for 2008, and I am confident that 'The Gateway to Morocco' project will represent an unprecedented era in the Kingdom's high-end hospitality, and will absolutely redefine recreation and leisure benchmarks," Mr. Nesnas continued.

"We are thrilled to work with Bureau Veritas- a well-established international company that produces premium quality results- with its 30 year heritage in Morocco, and particularly its expertise pertaining to Morocco's rules and regulations, and the North Africa region in general," Mr. Nesnas concluded.

Mr. Ferreyra commented saying, "Bureau Veritas is delighted to embark on this exciting partnership towards the success of the prestigious 'Gateway to Morocco' project by GFH. We look forward to collaborating with Bonyan International to create the most aptly organized and experienced team, thus ensuring optimum service and quality control."

Bureau Veritas, a subsidiary of Wendel Investissement- which own 99.5% of shares, is present in 140 countries through its network of more than 700 offices and laboratories. In 2005 revenues totaled of 1.647 billion euros. Every day, more than 23,000 staff members, including many experts, serve over 280,000 customers throughout the world. Bureau Veritas is recognized and accredited by the largest national and international bodies.

The first element of Gateway to Morocco, the Royal Ranches (Marrakech), is a vibrant cultural secluded resort, surrounded by a breathtaking natural environment, at the foot of the stunning Atlas mountains. Dedicating a total area of 380 hectares- a large portion of which is for the equestrian world- the development, valued at approximately US$ 800 million, includes a world-class racing track supported by state-of-the-art stabling, veterinary facilities, and climate controlled grandstands.

Further to gratifying the most ardent equestrians, the Royal Ranches boasts spectacular villas and apartments amidst stunning landscaping in the form of rivers, lakes and waterfalls- this of course alongside the finest spas, an 18-hole mountain-view golf course, upscale retail outlets, and other world-class sporting and leisure facilities.

The second element is the 127 hectares Royal Resort Malabata (Tangier): a unique mixed-use tourism, commercial, and residential destination in the city of Tangier- distinguished by its beautiful beaches on the Mediterranean coast and its close proximity to Europe.

The resort which is valued at approximately US$ 600 million, boasts a unique location with splendid natural scenery reflecting the contrast between the sea and the mountains. Accessibility and culture provide the ideal setting for the project, which features the most decadent cafes, galleries, boutique shopping, beach houses, and a 9-hole golf course. Furthermore; Royal Resort Malabata's fully equipped Convention Centre will provide the international business community with an exclusive destination for corporate meetings, conventions and exhibitions. The resort also comprises a private school, as well as a clinic equipped with the latest medical facilities.

With an impressive portfolio, Bonyan International involves management, sales and marketing for a range of developments region wide including the US$ 2 billion Energy City in Qatar, and the US$ 600 million Beirut Gate Project in Lebanon. It is also currently the managing consultant for two of Bahrain's most exclusive projects: the Lagoon in Amwaj Islands- a development worth $90 million; and the US$100 million Sunset Hills in Al Areen - both developed by Abu Dhabi Investment House.

Bonyan International S.A main activity involves the development of real estate projects through ownership, partnership, or as development consultants. The company also offers integrated and research based services that include real estate project development, project management and value engineering, along with their reputable international affiliates, in addition to real estate sales & marketing and Facility and Property Management.