An Egyptian–Emirati investment consortium led by Samih Sawiris, alongside regional partners, is planning to inject approximately €200 million into the first phase of a major tourism development in Essaouira, according to sources cited by Asharq Bloomberg.
The project, spanning around 2.5 million square metres along Morocco’s Atlantic coast, will be implemented over five years and includes the development of nearly 800 hotel rooms across multiple phases. Initial works are expected to deliver about 270 rooms by 2027, alongside the construction of a new 350-room hotel and an integrated leisure and commercial zone covering 300,000 square metres.
The investment aligns with Morocco’s broader tourism strategy under the Moroccan Ministry of Tourism, which aims to expand coastal destinations and attract high-value international visitors.
The Middle East Observer notes that the initiative reflects increasing cross-border investment flows between North African and Gulf markets, particularly in tourism infrastructure. The Middle East Observer further observes that Essaouira’s strategic positioning as a cultural and coastal destination enhances its appeal for large-scale, mixed-use developments targeting global tourism demand.
