RABAT, 1 May 2006 — Emaar Properties, described as the largest real estate developer in the world, broke ground at the Rabat waterfront, the site of its fourth luxury planned community in Morocco yesterday.
Situated on the Moroccan capital’s western side, the 11 km long, 330-hectare AED12.5 billion ($3.4 billion) Saphira development will have high quality residential communities and a vast array of hotel and leisure facilities, in addition to the infrastructure needed to turn the area into a world-class tourism, retail and leisure hub. Rabat Province Governor Hassan Amrani and Emaar Chairman Mohamed Ali Alabbar led a delegation that met Rabat city government officials and Emaar’s board of directors at the site for the ceremony. Amrani welcomed the development and said it would add immensely to the attraction and reputation of Rabat. “Rabat is one of the country’s most famous historic and cultural centers and the plans for Saphira will bring something new and refreshing to it. The community will become an integral part of Rabat City,” he said. “Emaar has shown vision in its planning for the historic city and we certainly welcome its involvement in Morocco which can only benefit and enhance lifestyle options for our people,” Amrani added.
“The Saphira development is a vital step in returning the capital to its historical stature as a city coveted by the world. Just as Morocco is a proving ground for Emaar’s international expansion, we envision Saphira as the launch pad for the Rabat of the new millennium,” Alabbar said. “What we’re doing here today is giving Rabat a window on the ocean once more,” Alabbar added.
“Saphira is the first fruit of Emaar’s special relationship with the government of Morocco, a relationship that will position us both as pioneers of millennial living,” he said. The groundbreaking follows the signing of a Memorandum of Understanding between the government of Morocco and Emaar at the end of March, which allows Emaar to begin work on three unique developments stretching from the Atlas Mountains to the Atlantic coast and includes world-class golf and ski communities, Riviera living and luxury spas and resorts.
