A memorandum of understanding (MoU) has been signed between Marchica Med, a subsidiary of the Agency for the Development of the Marchica Lagoon, and HB Holding NV, a real estate and technology investment firm. This agreement sets the stage for a major real estate and tourism project in Atalayoun, with an estimated investment exceeding 800 million dirhams (over $80 million).

Revitalizing Atalayoun: A modern, eco-Friendly destination

The strategic partnership aims to transform Atalayoun, part of the broader Marchica Lagoon development program in Nador province, into a premier tourist destination. The project will blend modern amenities with environmental stewardship, highlighting the region’s natural and cultural heritage. According to a statement from Marchica Med, the development will feature high-quality infrastructure, including a four-star hotel with approximately 130 rooms, premium residences, and luxury villas. Landscaped areas will emphasize sustainability and ecological preservation.

Economic and social benefits for the region

With a total investment of over 800 million dirhams, the project is expected to create around 100 permanent jobs, offering significant socio-economic benefits to the region. “This MoU marks a pivotal shift in the implementation strategy for the Marchica Lagoon project,” stated Loubna Boutaleb, General Manager of the Agency for the Development of the Marchica Lagoon and CEO of Marchica Med. “It will accelerate the realization of this strategic initiative launched by His Majesty the King in 2008, aiming to promote progress and sustainable development in the Oriental region, ensuring dignified living conditions for its citizens.”

Boutaleb emphasized that developing partnerships and creating significant synergies with the private sector will inject new dynamism into the region’s socio-economic and tourism development. “This collaboration with HB Holding NV will help establish a modern, environmentally-friendly project that will have significant positive impacts on Nador province and the entire region,” she added.

Commitment to sustainable and high-quality development

Henri Broen, CEO, and Solayman Bouharrou, partner at HB Holding, expressed their confidence in the project. “Our expertise in real estate and tourism development, combined with Marchica Med’s vision for sustainable growth, will enable us to create a project that meets high-quality standards and enhances the Marchica Lagoon. This will be a benchmark for responsible tourism and sustainable development in Morocco and particularly in Nador,” they stated.

A resort that marries sea and land

Atalayoun, the first jewel of Marchica, is a residential and tourist resort spanning 154 hectares on the peninsula of the same name. The development includes a 140-berth marina, a golf academy, a variety of residences, and numerous dining and entertainment facilities. The first of four planned hotels, a five-star establishment, opened in 2019.

This new partnership aligns with Marchica Med’s medium-term action plan, which was approved at its last board meeting. The plan aims to initiate a new phase of the project, accelerating the development of Atalayoun through increased private investment.