Royal Ranches Marrakech closes EMS land deal
Manama, September 29, 2008
Royal Ranches Marrakech, one of Gulf Finance House’s flagship projects in Morocco has announced the sale of approximately 40 per cent of purchasable land to Equestrian Management Services (EMS).
This announcement marks the third in a series of recent EMS projects across the Mena region and promises to deliver a world class equestrian centre complete with the latest equestrian facilities to the Royal Ranches initiative.
Located in the foothills of the Atlas Mountains, Royal Ranches Marrakech will populate 380 hectares, becoming one of the world's first five star Equestrian Resorts.
EMS have track record of establishing unique equestrian venues and operate similar ventures in both Ajman and Dubai.
Their plans for Royal Ranches include an equestrian centre for 200 horses and other residential components comprising villas and apartments.
The design of the project will draw upon numerous aspects of Moroccan culture and reflect the historical significance of horses throughout the kingdom.
Royal Ranches Marrakech will deliver a unique equestrian experience for enthusiasts worldwide while simultaneously offering an economic stimulus to the local and regional economy.
Today’s announcement will further capitalise on a Moroccan real estate boom that has attracted huge sums of Foreign Direct Investment (FDI) in recent years.
The trend saw FDI reach a record high of over $4 billion at the end of 2007 alone, an increase of 18.8 per cent over the same time last year and a 77 per cent increase over the average of the past five years.
Royal Ranches Marrakech chairman Esam Janahi said the Royal Ranches Marrakech has been designed as a world class equestrian resort which fuses the luxuries of a five star resort with an advanced wildlife haven, and Equine Management Services bring with them vast experience in this arena.
'Their involvement will enrich the whole initiative and offer a truly unique experience for equestrian enthusiasts the world over,' he observed.
EMS president Eileen Verdieck said, 'We are passionate about creating unique equestrian experiences but finding the right partner and selecting the most appropriate location is critical to success of our ventures.'
'In Royal Ranches we have a partner that shares our goals, and in Morocco we benefit from a rich and historical equestrian tradition which will be fully reflected in our work,' she remarked.
The new equestrian center will be designed and developed by EMS, and will introduce the company’s HoofbeatZ™ Program.
A comprehensive and sustainable equestrian management system, HoofbeatZ™ Program, is designed to broaden the base of equine enthusiasts through the use of innovative, educational, and entertaining activities and games all centered around the horse.
Royal Ranches Marrakech is the second of two Resorts that infrastructure development experts Gulf Finance House have launched in Morocco, the second being Royal Resort Cap Malabata.
The beginning of infrastructure development for the two projects was announced earlier this year, and construction on the Royal Ranches Marrakech is expected to begin by the year’s end as negotiations with contractors and real estate developments are currently underway.-TradeArabia News Service
More Construction & Real Estate Stories
- Bahrain mulls disabled-friendly buildings
- Damac launches waterfront luxury project
- Ebrahim Kanoo buys key plots at Manara project
- Arabtec wins $108m Saudi hospital contract
- Bahrain awards $16m road projects
- UAE office fitouts shifting to modular layouts
- Bahrain set to revamp fish market
- Bahrain issues 4,402 building permits in 5 months
- BIME awarded key Saudi contract
- Sabic unveils green plastics for construction