Abu Dhabi Investment House in Morocco:

• Total investments – US$ 1 billion
• Commencement of infrastructural work in Porta Moda Marrakech project
• Area: more than 306,000 sqm of land
• Project includes 3 elements to be developed: residential, hospitality and commercial 
• Porta Moda Advisory Board to include leading international brands in fashion, jewellery
• Porta Moda is to appear in: Abu Dhabi, Qatar Marrakech, Tunis and India

Abu Dhabi, UAE – Abu Dhabi Investment House (ADIH), a leading investment firm in the region, announced the commencement of infrastructural work in the last phase for its latest project, Porta Moda Marrakesh, Morocco. The project’s total cost is approximately US$ 1 billion and will be developed on a total area of more than 306,000 sqm.

Porta Moda Marrakesh is an extension to the unique US$ 7 billion Porta Moda concept ADIH launched earlier this year. The project encapsulates the idea of redefining quality of living and streamlined education. The concept’s main elements which will be implemented within Porta Moda Marrakech include luxury living, culture, fine dining, exclusive retail shopping, fashion and design education, renowned boutique spas and resorts, entertainment – all with a concentration of style and fashion. Porta Moda Marrakesh, like all other Porta Modas ADIH intends to launch internationally, is designed to be established as the hub of fashion and style within Morocco and the area surrounding it, given its geographical proximity to Europe and the Middle East altogether.

Mr Fawaz Ali Al Jowder, Deputy CEO – ADIH said, ‘We have already started the infrastructural work for the last phase of this exciting project in Marrakech. Once this is completed, development work will start immediately after. We have on-board a highly professional team including international experts in master-planning, development and consultancy in the field. We aim to add value to this great destination and help redefine luxury and uniqueness.’

In addition to governmental stability, Morocco enjoys numerous advantages as a destination. It is considered one of the leading cultural hubs in North Africa, as well as, being a major destination for Europeans and people from the region to visit. The real estate market in Morocco is one of the growing and booming sectors as there is high demand for housing – with increased tourist traffic to the country. ADIH’s Porta Moda Marrakech will help address housing issues, employment, as well as, providing education and training on the hands of international experts in the fields of fashion and design.

Porta Moda Marrakech is located 7km from the city’s airport, taking advantage of the popularity of the area surrounding it.

About Porta Moda (Style City)

The first of its kind ‘Style City’ concept, launched by ADIH earlier this year, as a concept of a mixed-use development comprising residential and retail components while focusing on fashion and style. The ‘city’ will feature a grand fashion district containing premium and luxury brands in the fashion, jewellery and interior design fields; an educational district containing institutions for the same, as well as museums and exhibition centres; as well as, a residential and a leisure district with town houses, studios, luxury villas, cafes, restaurants and renowned boutique hotels and spas.

The masterplannig of the Porta Modas around the world is being developed based on high international standards and on due-diligence to best serve the market segments targeted. The selection of destinations that ‘Porta Moda’ will appear in comes as a result of studies that show flexible governmental regulations and the economic growth potential these countries enjoy. Moreover, study has also shown that young adults are moving towards studying aesthetics and arts. With Style City being within their geographic reach, they will be able to get their education at the hands of international talents and expertise.

Mr Al Jowder said, ‘There is such a wealth of talented young designers in the region who are traditionally drawn to cities such as London, Paris, New York and Milan to develop their skills in these very competitive markets. We want to help provide environments where the same people can nurture their chosen profession in the world of style, design and fashion but be given the chance to stay close to the markets and consumers they serve. This undoubtedly the dawn of a new era in fashion and design.’

Additionally, the real estate industry is booming within the countries we intend to launch Porta Moda in (Abu Dhabi, Qatar, Marrakech, Tunis and India) – with growing populations representing an extremely big middle class consumer market, resulting in the inherent attraction of major multinational companies.

Developments in the real estate sector as a whole are being driven by demand for more housing units in cities and towns because of growing urbanization of these countries’ population, burgeoning middle class, increased disposable income, easy availability of housing finance at cheaper rates and tax incentives.

Built upon such a combination of factors, Port Moda presents an unprecedented investment opportunity for investors who are looking to diversify their portfolio by industry and region.