According to Al-Khaleej newspaper (June 8, 2005), Kerzner International Limited (NYSE:KZL), a leading international developer and operator of destination resorts, casinos and luxury hotel properties, announced an agreement with the Moroccan Emirates Development Group, of which an Abu Dhabi-based enterprise owns 50%, to build a tourism resort in Morocco by MD 1.1 billion ($300 million) costs.
Kerzner reported that it will work with all involved partners to assure the necessary financing for this project through the next few months. Kerzner also reported that the project execution will start this year to end in 2009.
