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Rabat - A new 6 hectares shopping mall featuring a big screen, a luxury hotel is set to be built in the capital Rabat.
Aksal group, a group that holds exclusive rights in Morocco to distribute various fashion brands, has signed a Memorandum of Understanding with Wessal Capital, a Moroccan private equity investment fund with key partners from Kuwait, Qatar, Saudi Arabia and the United Arab Emirates, for the construction of new shopping mall in Rabat.
A joint-venture company was created on the occasion. The capital will be held jointly by the two groups.
The new shopping mall will be located in the Wessal Bourgereg project, a mega project on the banks of River Bourgereg that aims to reinforce the urban development of Morocco's capital with an investment totaling $1.1 billion.
The Wessal Bourgereg project will include the construction of Rabat Grand Theater (2,000 seats), an Archaeological and Geological national museum, several cultural centers, a residential compound, hotels, commercial and recreational centers, green spaces, and a Marina.
The mall will feature 200 international brands of retail and restaurants, a hotel, a cinema, a national library, an Archeological museum, and a house of culture. It will create around 3000 direct and indirect jobs. It will be designed by the same architect of Casablanca's Morocco Mall, Italian David Padoa.
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