Yes, it is part of "Azur". It is being done by the same developer as Port Lixus. I think its a Belgian Company. Only Villas etc, very lavish but pricy and near Agadir as appose to northern Morocco.
So, longer travel time and need to speak French/Arabic need to get your normal daily life to go smoothly.
Mogador actually is the old name for Essaouira. The development is a few kms from Essaouira in the small village of Diabat which is being removed to make way for the development.
As of the other week the golf courses are nearly finished and the roads are being put in but no building has started yet.