The Metropolis Mohammed VI Tangier Tech is in the process of being sold to Chinese-Moroccan developers

Tangier Morocco

The Chairman of BMCE Bank of Africa, Othman Benjelloun, has confirmed that the implementation of Mohammed VI Tangier Tech City is on track. The group is participating in the major project as a banker, insurer, and supporter of the investments planned to be operated on the site.
The Mohammed VI Tangier Tech City was launched on March 20, 2017, in Tangier under the presidency of His Majesty King Mohammed VI.
After its inception, last March, the BMCE Bank of Africa decided about the metrolpolis of Mohammed VI Tangier Tech. The chairman of the bank has chosen to enlighten the public on the scale of the project, which will mark the economic background of Morocco and Tangier in particular. The chairman of the BMCE Bank has sent a communication outlining his financial institution’s commitments in this Sino-Moroccan project.
The President of BMCE Bank of Africa indicated that the project is already the subject of delimitation and demarcation by the Moroccan administration. To date, 2,000 hectares have been identified and are being sold by the State to Chinese-Moroccan developers.
About the design and implementation plans, the chairman explained that they were very forward-looking and that the developments works are expected to begin in the second half of 2017.
According to Mohamed Dekkak, Chairman and Founder of Adgeco Group, the major project will increase the standing of Morocco particularly the city of Tangier as a hub for technological advancement. This project will also improve the tourism sector of Morocco and attract more foreign investors, particularly from China to set up their businesses or undertake business partnerships with their counterpart in Morocco. The completion of the project will become one of the greatest accomplishments of Morocco regarding cutting-edge project development.
The Mohammed VI Tangier Tech metropolis project, involves the development of a modern, futuristic, and ecological industrial city, which is well connected to new and advanced technologies. The metropolis will also have a residential component that will provide residents with a healthy and productive lifestyle. The project mobilized an investment of more than 105 billion Moroccan dirhams, and it will host more than 200 Chinese companies and employ more than 200,000 people in the industrial, housing, health and education sectors. The BMCE Bank of Africa Group is leading this project alongside the Ministry of the Interior, the Ministry of Finance, the Ministry of Trade and Industry, the Wilaya of Tangier, the Tangier-Tetouan-Al Hoceima Region and The Haite Group.
According to the bank, their mobilization is absolute. The determination of the Chinese partners is constant on a regular basis, irrespective of the complexity of a long-term project. The commitment of all state components gives this public-private partnership, national and international, an exceptional dimension that will make the city a famous landmark for Morocco and the entire African continent. Furthermore, the fact that the King of Morocco went to Tangier to preside over the launching ceremony suggests that this major project is one of a kind with his name attached in the Mohammed VI Tangier Tech metropolis.

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