Kuwait's Alargan Real Estate to invest in Morocco

Kuwait - Alargan International Real Estate Company has announcedthe plan to invest $199 million in the Moroccan marketto develop commercial and residential projects. The projects, which will take place in Casablanca, will be established on an area of 10,000 square metres. The real estate company will provide commercial and residential services to the customers. The Kuwaiti firm will also provide long-stay hotel rooms and office. Alargan's stake in the aforementioned projects will reach 35%.Moreover, the company also plans to develop residential projects for the low-income segment, as the unit’s total cost will not exceed KWD 8,000. The company is also eyeing both the Indian and Egyptian real estate markets for big investment as part of its regional expansion strategy.