A shopping center built on 6 hectares, with a multiplex cinema and a large hotel, will be integrated to the proposed development of the Bouregreg valley in Rabat.
A MoU for the construction of a shopping center in the framework of the “Wessal Bouregreg” was signed between Wessal Capital, which includes five sovereign wealth funds (from Morocco and the Gulf countries) and the Aksal group, a statement This Wednesday, March 4th.
According to the statement released by Aksal, the future Rabat shopping center to be built on a total area of nearly 6 hectares and house more than two hundred retail stores and restaurants. There will also be leisure facilities including a cinema complex. In fact, if we exclude the hotel “An internationally” which should be connected directly to the shopping center, this new project reminds Morocco Mall in Casablanca developed by Aksal.
The mall should include many of the more than 30 stores managed by Aksal, who owns franchises including Zara, Massimo Dutti, GAP, and Gucci, Fendi and Ralph Lauren, or FNAC and Galeries Lafayette.
The project must also be designed by the same architect Davide Padoa. However, its design should differ from that of the “mall” of Casablanca. According to the release, the design of the future Rabat mall will “reflect the rich architectural and historical heritage of the city of Rabat, while drawing the Grand Theatre designed by Zara Hadid.” It should also be less monolithic, since incorporating “indoor and outdoor sequences [with] shopping promenade inserted in lush greenery and vegetation environmentally friendly” and open parts and semi-covered.
The MoU was signed by the CEO of Aksal Salwa Akhannouch and the CEO of the Moroccan fund tourism development and member of Wessal Capital Board, Tarik Senhaji. The realization of this project will be done through the creation of a joint venture whose capital will be held jointly by Wessal Capital and Aksal group, the statement that advances the project is expected to create more than 3,000 direct and indirect jobs.
According to investors, the Rabat mall intends to position itself as a true landmark in the overall project “Wessal Bouregreg” which was launched in May 2014 was chaired by the king and involves the construction of the sequence II Bouregreg Valley, which includes over an area of about 110 hectares, cultural infrastructure, recreational, residential, hotel and service program as well as a marina, with an investment budget of 8.7 billion dirhams .