Egyptian-Emirati Alliance Plans €200 Million Tourism Investment in Essaouira
Agadir – An Egyptian-Emirati investment alliance is preparing to invest €200 million in the first phase of a large-scale tourism project in Essaouira, on Morocco’s Atlantic coast, strengthening the region’s hospitality infrastructure and expanding its tourism capacity.
The consortium brings together Al Nowais Investments, Sunrise Group, and Egyptian billionaire Samih Sawiris. According to Asharq Business, the investment will focus on developing the first phase of a broader tourism project spanning approximately 2.5 million square meters.
The project plan includes the construction and upgrade of around 800 hotel rooms, to be deployed over a five-year period
The same source noted that the first phase of the project will involve the completion of 270 hotel rooms by the end of 2027, alongside the construction of a new 350-room hotel expected to be delivered within four years.
The first phase will also feature a leisure and commercial village covering 300,000 square meters. This project is set to include 150 hotel rooms, golf courses, and approximately 30 boutique hospitality units, designed to diversify the tourism offering in the area.
Such investment positions Morocco as an attractive destination for touristic projects, boosted by the country’s touristic appeal as a global destination.
According to Morocco’s Ministry of Tourism, the tourism sector welcomed 4.3 million tourists in the first quarter of 2026, representing a 7% increase compared to the same period last year.
In March alone, Morocco attracted nearly 1.6 million tourists, up 18% compared to March 2025.
Commenting on these results, Fatim-Zahra Ammor, Minister of Tourism, stated that “these figures confirm that Morocco as a destination is on track. March 2026 is a strong signal. We continue to work to ensure that this momentum is consolidated throughout the year.”
Last year, Morocco welcomed nearly 20 million tourists, an increase of 14% compared to 2024. Tourism revenues reached MAD 124 billion ($ 13 billion) by the end of November, up 19%, while total overnight stays rose by 9%.
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