Rabat's green district - a bet for investors

The high tech citadel a 'model' for Islamic Bank, Arab Fund

16 April, 10:47

    (ANSAmed) - RABAT, APRIL 16 - The Arab Fund for Economic and Social Development and the Islamic Development Bank are investing in a green district in Rabat. ''For intelligence and energy efficiency, as well as for social responsibility'', Green Tech Valley, the high-tech project on renewable energy, is becoming the first in Morocco in which 80% of funds are financed through so-called clean funds. The cost is expected to total 2.5 million dirham, or some 250 million euros.

    The citadel of the future, which is being set up on the banks of the river Bouregreg, between Rabat and Sale, will include a business district with offices with a high energy performance, a medical center set up in cooperation with Milan's European Institute of Oncology, a mall with over 120 shops, offices and an amusement park.

    A parking lot for 1,200 cars will complete the structure which will stretch over a surface of 3.5 hectares.

    Green Tech Valley, of Moroccan company Marita, which does business in Italy as well as in seven African countries, will be completed by the end of the year.

    It has garnered the attention of the Islamic Bank and Rabat Fund for its ''conformity to environmental rules and use of renewable energy'' and thus is a ''model construction site for Morocco and Islamic Bank member countries'', according to statements when the agreement was signed. (ANSAmed).

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