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PRESS RELEASE BY COLONY CAPITAL
Date: January 21, 2007
The magnificent development of the coastal resort at Taghazout, just north of Agadir, Morocco, was awarded to global real estate investment firm, Colony Capital and its partners, Grupo Satocan and Grupo Lopesan, the tourism leaders in the Canary Islands, in 2006. The resort at Taghazout is part of King Muhammad VI’s Plan Azur, which plans to develop six coastal resorts in the country and attract 10 million visitors by 2010, within the scope of the “Vision 2010†policy defining tourism as a national priority.
The resort at Taghazout stretches over five km (3.1 miles) of stunning, pristine beach on the Atlantic coast boasting some of the Atlantic’s best surf spots in the world. Under the $2 billion development plan, the resort at Taghazout is poised to fulfill its destiny as an internationally renowned, exotic, five-star coastal resort destination that will define the essence of the Moroccan Riviera. The enviable all-season climate with more than 330 days of sun and mild year-round temperatures make this an ideal setting for indoor/outdoor living.
The multi-generational luxury resort is being planned to include several five- and four-star hotels (including the Raffles Hotel, Fairmont Hotel and Residences, and several other leading hotel chains). The luxury residential areas will comprise a range of custom homes, gated estates, town houses and apartments. In addition the resort will offer 36 holes of golf designed by world renowned Golf Course Architect David Kidd with dramatic views of the Atlantic Ocean and the Atlas Mountains, extraordinary health spas, athletic training center, creative arts workshop, equestrian facilities, a lively village center with an array of ethnically diverse eateries and night life, private beach clubs, and dozens of residential, leisure and retail facilities, including a traditional souk and haute couture houses. Groundbreaking will occur in early 2007 with the first residential units, hotel, medina and golf course expected to open in early 2009.
The architecture will reflect the major influences that have shaped Morocco for centuries: The Berbers, the oldest known inhabitants of North Africa who originated the Kasbahs (castles) of red earth as well as crafts like colorful carpets and carved wooden doors; the Islamic-Arabic palette, famous for calligraphy, blue and white glazed Persian tiles and elaborate patterns of stars, plant forms and geographic shapes; the Hispano-Muslim style, also known as Andalusian or Moorish, which converged ideals in architecture, gardens, music and cuisine; and the French with its bold geometrics, rich motifs and grand edifices of the European Art Deco style.
Taghazout will also be home to the Institute of Global Peace and Sustainability (GPS),an international assembly for exchanging ideas between all nationalities and strategically located in Morocco where East meets West.
Adhering to eco-centric development practices, Taghazout is based on the philosophy of living lightly on earth through an integrated land management plan. Three different neighborhoods will reside on separate upland plateaus comprising hotel and resort residences varying from beach and hillside to village to orchard and golf settings. Taghazout aims to create an exquisite resort that values local heritage, both in terms of culture and environment, while providing an economic stimulus to the region. It is anticipated that the program will generate over 50,000 direct and indirect jobs.
For those who can be drawn away, Taghazout is the ultimate base camp for day trips into the Atlas Mountains, Paradise Valley, Souss-Massa Draa National Park, the Tamri Reserve and the medieval town of Taroudant.
PRESS RELEASE BY COLONY CAPITAL
Date: January 21, 2007
The magnificent development of the coastal resort at Taghazout, just north of Agadir, Morocco, was awarded to global real estate investment firm, Colony Capital and its partners, Grupo Satocan and Grupo Lopesan, the tourism leaders in the Canary Islands, in 2006. The resort at Taghazout is part of King Muhammad VI’s Plan Azur, which plans to develop six coastal resorts in the country and attract 10 million visitors by 2010, within the scope of the “Vision 2010†policy defining tourism as a national priority.
The resort at Taghazout stretches over five km (3.1 miles) of stunning, pristine beach on the Atlantic coast boasting some of the Atlantic’s best surf spots in the world. Under the $2 billion development plan, the resort at Taghazout is poised to fulfill its destiny as an internationally renowned, exotic, five-star coastal resort destination that will define the essence of the Moroccan Riviera. The enviable all-season climate with more than 330 days of sun and mild year-round temperatures make this an ideal setting for indoor/outdoor living.
The multi-generational luxury resort is being planned to include several five- and four-star hotels (including the Raffles Hotel, Fairmont Hotel and Residences, and several other leading hotel chains). The luxury residential areas will comprise a range of custom homes, gated estates, town houses and apartments. In addition the resort will offer 36 holes of golf designed by world renowned Golf Course Architect David Kidd with dramatic views of the Atlantic Ocean and the Atlas Mountains, extraordinary health spas, athletic training center, creative arts workshop, equestrian facilities, a lively village center with an array of ethnically diverse eateries and night life, private beach clubs, and dozens of residential, leisure and retail facilities, including a traditional souk and haute couture houses. Groundbreaking will occur in early 2007 with the first residential units, hotel, medina and golf course expected to open in early 2009.
The architecture will reflect the major influences that have shaped Morocco for centuries: The Berbers, the oldest known inhabitants of North Africa who originated the Kasbahs (castles) of red earth as well as crafts like colorful carpets and carved wooden doors; the Islamic-Arabic palette, famous for calligraphy, blue and white glazed Persian tiles and elaborate patterns of stars, plant forms and geographic shapes; the Hispano-Muslim style, also known as Andalusian or Moorish, which converged ideals in architecture, gardens, music and cuisine; and the French with its bold geometrics, rich motifs and grand edifices of the European Art Deco style.
Taghazout will also be home to the Institute of Global Peace and Sustainability (GPS),an international assembly for exchanging ideas between all nationalities and strategically located in Morocco where East meets West.
Adhering to eco-centric development practices, Taghazout is based on the philosophy of living lightly on earth through an integrated land management plan. Three different neighborhoods will reside on separate upland plateaus comprising hotel and resort residences varying from beach and hillside to village to orchard and golf settings. Taghazout aims to create an exquisite resort that values local heritage, both in terms of culture and environment, while providing an economic stimulus to the region. It is anticipated that the program will generate over 50,000 direct and indirect jobs.
For those who can be drawn away, Taghazout is the ultimate base camp for day trips into the Atlas Mountains, Paradise Valley, Souss-Massa Draa National Park, the Tamri Reserve and the medieval town of Taroudant.
