(ANSAmed) - TANGIER, JULY 4 - The real estate subsidiary of Russian giant Gazprom, Inteco, will invest 1 billion euro in real estate and tourism projects in northern Morocco. For this purpose Inteco has set up a Moroccan juridical structure, Kudla Group, which holds 13.5 million euro capital, a member of the group, Mohamed Ghalat, said. The company will invest 488 million euro for the launch of the first residential project ''Paradise Golf Resort'', on a surface of 48 hectares, in the resort of Aouchtam with luxury villas and apartments, golf fields, tennis courts and trade centres; the second project, on a 58-hectare surface, envisages real estate investments between Tangier and Tetouan. The Russian giant has on its agenda also another project in the Mediterranean resort of Azla, with an investment amounting to 436 million euro, which envisages a luxury hotel, golf field and industrial complexes. ''We are very much interested in investing in Morocco as the Spanish market is already saturated. The charm of Morocco's north has seduced also the Gazprom group, which has decided to invest in tourism projects in Maghreb,'' Ghalat said during the 13th international real estate fair for the north of Morocco underway in Tangier. In addition, a number of companies - mainly Spanish, French, and Gulf ones - are about to implement large real estate projects in Morocco's northern part. (ANSAmed)