France's Pierre et Vacance Europe's largest operator of vacation resorts will invest Euro 270m in a tourist project in Morocco with a capacity of 10,000 beds.
The investment program includes the building of resorts in the tourist cities of Marrakech and Agadir, and tourist residences and apartments in Tangier, Rabat and Casablanca.
In total, 2,264 units/apartments will be built by 2013, under a memorandum of understanding signed between Europe's largest operator in vacation resorts and the Moroccan government during the 9th ministerial joint meeting held last week in Rabat.
The project will allow for creation of 700 direct and stable jobs, the Tourism Ministry said. During the ministerial meeting, co-chaired by Moroccan PM, Abbas El Fassi and his French peer, François Fillon, the two countries signed 16 tie-ups, including the sale of the multi-mission naval warship, FREMM.
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