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8 December 2006 - Gide Loyrette Nouel Casablanca advised an international consortium led by Colony Capital on a real estate development project worth US$ 2 billion:
The Gide Loyrette Nouel Casablanca Office advised an international consortium comprising the US real estate developer, Colony Capital, and the hotel and tour operators, Satocan and Lopesan, in connection with the planning and development of the Taghazout coastal tourist resort, situated to the north of Agadir. The project involves a total investment of some US$ 2 billion.
The Casablanca Office assisted the consortium in negotiating the development agreement with the Moroccan government and forming the development company to be responsible for the project.
The project works are due to commence at the end of 2006. They involve the building of a new generation tourist resort with an accommodation capacity of some 21,000 beds, including around 16,000 hotel beds, two golf courses and several other related leisure, entertainment and handicraft trade amenities.
The Gide Loyrette Nouel team assisting Colony Capital with this transaction included Hicham Naciri, partner, Thomas Urlacher (handling the deal's corporate aspects) and Richard Cantin (responsible for real estate law issues).
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