Richard Branson buys Moroccan Casbah for $ 2.8 million

British tycoon and adventurer, Richard Branson, who visited lately Morocco to renew his world Balloon tour attempt, has bought a Moroccan Casbah (castle) for $ 2.8 million.

Moroccan "La vie Economique" weekly reports that the Casbah called "Tamadot" is located in southern Morocco.

Branson's Virgin group said it will invest over $ 2 Mln for the rehabilitation and renovation of the castle to make of it a unique tourism resort allowing foreign tourists to discover the charms of the Moroccan culture, local traditions, dishes and enjoy mountain tourism.

Local construction materials will be used in the renovation works of the casbah considered among the major Moroccan historic sites.

The project, to be launched next February 1999, will help create several job opportunities and will contribute to the development of tourism in the region.