Morocco and UAE group sign tourism investment convention

Morocco and "Liwa" group, an international tourism investment company, signed in Rabat on Friday a convention, worth 200 million DH ($ 19,04 Mln), for the renovation and extension of the Liwa-owned three Sheraton hotels.

Under the convention, the United Arab Emirates firm will increase guest capacity in the three hotels located in Marrakesh, Fez and Agadir. The group will also build 300 new rooms, restaurants and conference halls, says a statement of the Moroccan economy and finance department.

The agreement was signed by Morocco's minister of economy, finance, tourism and investments, Fathallah Oualalou, and chairman of Liwa administrative board, Said Manea Al Outaiba, who is also personal advisor to the UAE president.