Saudi holding to invest in Morocco's tourism, finance sectors

The Saudi "Della El Baraka" holding is to build a tourism compound in the southern Moroccan city of Agadir.

The related agreement was signed in Rabat on Saturday by the holding's owner, Sheikh Saleh Kamel, and Moroccan ministers of economy and finance, Fathallah Oualalou, and of tourism, Hassan Sebbar.

The holding, already active in Morocco's fisheries sector, is planning to diversify its activities through investments in the sectors of tourism, finance, information and real estate.

It is also projecting to build other tourism compounds in the northern city of Tangier and in the Atlantic city of Essaouira.

The Della El Baraka holding manages some 300 companies in 44 countries and operates in various sectors such as construction, financial and banking sectors, audiovisual and agribusiness