Dubai, November 27, 2005: Emaar Properties, the largest real estate developer in the world in terms of market capitalization and ONA Group, the leading Moroccan industrial and financial group, today unveiled its second international venture in Morocco - Bahia Bay. The AED 4.5 billion (US$1.2 billion) project will see the joint venture develop a large scale residential golfing community along the picturesque Moroccan coast.
In close proximity to Casablanca, the 530 hectare development will combine all the benefits of an Emaar golfing community along with the advantages of a coastal location. This announcement closely follows the ventures first project launch last month in Morocco - Amelkis II, the luxury residential golfing complex in Marrakech which allows individual buyers to purchase plots of land and design and build their ideal home.
Mr Mohamed Ali Alabbar, Chairman Emaar Properties said: “Situated along the breathtaking Moroccan coast, Bahia Bay is a unique development in an idyllic setting. Following the success of our existing golfing communities in Dubai – Arabian Ranches and Emirates Hills – the Bahia Bay community will become a flagship development for Emaar’s expansion in the North Africa region.”
Residential units in the Bahia Bay project will range from luxury villas and spacious semi-detached houses to townhouses and apartments with views overlooking the golf course and spectacular views of the Atlantic Ocean.
The development will also feature a beach hotel, golf hotel, beach clubs, equestrian facilities, retail and entertainment and a community and recreation centre making Bahia Bay an ideal location for residents and visitors alike. The development is expected to be completed in five years.
This latest announcement sees the continuation of Emaar’s roll out strategy of undertaking prestigious master-planned residential developments in strategic locations – whether in the heart of the city or coastal picturesque locations. As it bids to consolidate its position as the world’s premier property developer, Emaar continues to provide buyers with quality lifestyle projects and shareholders with value.
Added Alabbar: “Morocco is a significant part of Emaar’s international expansion plans. Already we have seen the great potential in the Moroccan market with our Amelkis II development. Not only will this project benefit the people of Morocco, but it will also boost tourism within the area. Our mission is to offer our customers world class communities – constantly integrating parks, landscaped areas and retail centres into master-planned themed lifestyles.”
With rock pools and breakwaters to help create sandy white beaches and an array of water sports and leisure options provided by the beach clubs, the latest Emaar offering in Morocco makes the most of the beautiful coastal views and surrounding natural beauty. Golfing facilities provide residents with the perfect opportunity to improve their golf as well as making the most of the relaxed and friendly clubhouse.
Located in close proximity to the Casablanca/Rabat coastal freeway, Bahia Bay is within easy reach of both major cities and is the ideal getaway for those in search of a premier luxurious lifestyle. Extensively landscaped with an array of indigenous plants and featuring picturesque water features, expansive open parks and a world-class golf course, the lifestyle offering is beyond compare.
For further information on Bahia Bay please visit www.emaar.com
