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26 September 2007 - Gide Loyrette Nouel Casablanca advised Orascom on a EUR 530 million tourist and real estate programme in Morocco:
The Casablanca office of Gide Loyrette Nouel advised Orascom Hotels & Development Group on a tourist and real estate programme in Morocco involving the development of a new integrated tourist resort in Tan-Tan (Southern Morocco) covering 1,500 hectares.
The investment required for the first phase of the programme of 500 hectares is estimated at EUR 530 million. This programme was concluded by way of an investment agreement and signed on 12 September 2007 between the Moroccan government and Orascom Hotels & Development, under the presidency of King Mohamed VI.
The Gide Loyrette Nouel team advising Orascom Hotels & Development in its negotiations with the Moroccan government comprised Hicham Naciri, partner, and Lamiae El Abbouti, senior associate.
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