FY 2012 Annual Report - Orascom Development
FY 2012 Annual Report - Orascom Development
FY 2012 Annual Report - Orascom Development
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46 <strong>Orascom</strong> <strong>Development</strong> <strong>2012</strong> <strong>Annual</strong> <strong>Report</strong> 47<br />
CHBIKA, MOROCCO<br />
Developing Destination<br />
Marina<br />
Nearly 75% of the marina basin works have been<br />
finished as of end <strong>2012</strong>.<br />
Construction<br />
Two on-site riads were intensively renovated and are<br />
currently operating as the administration offices.<br />
Club Med and Melia<br />
During <strong>2012</strong> we signed management agreements<br />
with Club Med and Melia regarding the management<br />
of one of Chbika’s first-phase hotels.<br />
Mansions<br />
At the end of <strong>2012</strong> two mansions were fully<br />
developed in our destination in Morocco.
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