logo

Morocco's $3bln 'airports 2030' targets 80mln passengers

Zawya10-06-2025
Morocco has approved a $3 billion plan dubbed 'airports 2030' which aims to increase the number of passengers using its airports to a record 80 million.
The plan, outlined by Morocco's Transport Minister Abdul Samad Qayouh in parliament this week, involves expansion of existing facilities and the construction of new airports in preparation for the 2030 FIFA world cup games.
Nearly half the targeted number of passengers will be achieved through the $1.5 billion expansion of Mohammed V airport in the Western Atlantic port of Casablanca, Morocco's largest city and business hub.
Qayouh told parliament that the plan includes building a second airport in Casablanca, new airports in other cities and expansion of some existing facilities.
"The plan is designed to increase the capacity of the country's airports to 80 million passengers in 2030...besides new airport projects and expansions, it also includes upgrading services and the infrastructure,' he said, quoted by Sabah Akadir newspaper and other Moroccan news outlets.
Qayouh said the plan also comprises quadrupling the fleet of Royal Air Maroc from around 50 to more than 200 aircraft during 2023-2037.
(Writing by Nadim Kawach; Editing by Anoop Menon)
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

New four-lane tunnel opens in Dubai to ease traffic
New four-lane tunnel opens in Dubai to ease traffic

The National

timean hour ago

  • The National

New four-lane tunnel opens in Dubai to ease traffic

An 800-metre tunnel with four lanes in each direction has opened in Dubai as part of a project to ease traffic flow in the city. The tunnel extends from the junction with Al Khail Road to the intersection with Sheikh Mohammed bin Zayed Road as part of the Umm Suqeim Street development project. The project is part of plans by Dubai's Roads and Transport Authority (RTA) to ease the flow of traffic and improve the road infrastructure in the emirate. 'The Umm Suqeim Street development project extends from the intersection with Al Khail Road to the intersection with Sheikh Mohamed bin Zayed Road, covering a distance of 4.6km," said Mattar Al Tayer, RTA director general, on Sunday. "The works included upgrading the intersection of Umm Suqeim Street with Al Barsha South Street, near Kings' School, where an 800-metre-long underpass with four lanes in each direction was constructed, in addition to a signalised surface-level intersection. "This development is considered one of the most important strategic projects for developing transverse east-west roads to enhance connectivity with vertical north-south roads. The completion of the project complements RTA's efforts to upgrade this corridor." The tunnel is part of plans to develop the Umm Suqeim-Al Qudra corridor, which extends from the intersection with Jumeirah Street to the junction with Emirates Road, spanning a total of 16km.

BlueFive Capital announces Mumtalakat's acquisition of a stake in the global investment platform
BlueFive Capital announces Mumtalakat's acquisition of a stake in the global investment platform

Zawya

time4 hours ago

  • Zawya

BlueFive Capital announces Mumtalakat's acquisition of a stake in the global investment platform

Manama, Bahrain: BlueFive Capital announced today that Bahrain Mumtalakat Holding Company, the sovereign wealth fund of the Kingdom of Bahrain, has acquired a stake in the firm, underscoring Mumtalakat's commitment to supporting emerging financial players. Mumtalakat's stake follows BlueFive Capital's successful close of its Founding Shareholders Circle, and it joins the 25 prominent GCC and global investors backing the firm. This latest investment provides BlueFive with long-term institutional backing as it continues to scale internationally. Founded in 2024, BlueFive Capital has rapidly grown to manage more than $2.6 billion in assets. As well as a flagship office in Manama, the firm operates across key global centres including London, Abu Dhabi and Beijing. It is founded by private equity veteran Hazem Ben-Gacem and chaired by Sheikh Mohamed Isa Al Khalifa, the former Chief Executive Officer of Bahrain's national pension fund. BlueFive Chairman Sheikh Mohamed Isa Al Khalifa, said: 'Welcoming Mumtalakat as one of our anchor shareholders is both a milestone and a strong statement of confidence in our vision and capabilities. This partnership provides stability and credibility as we accelerate our global expansion, firmly rooted in Bahrain's dynamic financial landscape." About BlueFive Capital BlueFive Capital is a global investment platform that today has $2.6 billion in AUM and targets opportunities in high-growth economies with the goal of transforming traditional financial models and fostering sustainable growth. Incorporated in Abu Dhabi Global Market and with offices in London, Manama, Abu Dhabi, Dubai and Beijing, the firm provides strategic exposure to sectors that will define the next generation of economic prosperity through consolidating parts of the financial services industry across insurance, private wealth and public markets. BlueFive Capital was founded in late 2024 and is led by Hazem Ben-Gacem, one of the longest tenured professionals in the global private equity landscape. About Mumtalakat Established in 2006 by Royal Decree, Mumtalakat is the sovereign wealth fund of the Kingdom of Bahrain. It manages a globally diversified portfolio of non-oil and gas assets spanning Strategic Investments, Global Asset Management, Local Impact Investments, and Government Holdings. The fund is focused on creating long-term value for Bahrain through collaborative, sustainable investment strategies.

Owagik launches new visual identity
Owagik launches new visual identity

Zawya

time10 hours ago

  • Zawya

Owagik launches new visual identity

Owagik Real Estate Development Company has announced the start of a new chapter in its journey by launching a refreshed visual identity that reflects its forward-looking vision and expansion strategy, in line with the rapid developments in Egypt's real estate sector. In this context, Eng. Mohamed Emad Kassem, CEO of Owagik, stated: 'The launch of the new visual identity is not merely a cosmetic change, but a strategic move aimed at expanding our business scope and delivering integrated, innovative real estate projects that meet the aspirations of the Egyptian market and keep pace with its evolution.' He added that this relaunch coincides with the announcement of a fully administrative tower featuring 12,000 square meters of saleable space, as part of a new phase of administrative units within the Owagik Towers project — one of the most prominent mixed-use developments in the heart of Downtown, New Administrative Capital. The project spans 8,000 square meters. Eng. Mohamed Emad confirmed that the investment volume of the new phase of the administrative tower amounts to approximately EGP 2.5 billion. The project consists of three towers, each rising to G+15 floors, in addition to four underground levels covering the entire plot area. It enjoys a strategic location on two main streets, near key landmarks such as Central Park, the Tourist Towers, Egypt Mosque, Al-Massa Hotel, the Gold Market, and the Monorail Station. The project also includes the largest open plaza in the area, covering 5,300 square meters. Kassem revealed that the new phase includes operational administrative units starting from 50 square meters, with prices starting at EGP 66,000 per square meter (after discounts for installment plans up to 7 years), along with flexible payment options extending up to 10 years and discounts reaching up to 50%. This offers real opportunities for investors and companies to combine prime location with financial flexibility and credibility. He noted that construction progress on the project has surpassed 50%, affirming the company's commitment to timelines and execution quality, leveraging the extensive experience of its parent company, Global Integrated Contracting, which boasts over 20 years of expertise and a proven track record of more than 15 integrated urban projects with a total business volume exceeding EGP 7 billion. Eng. Mohamed Emad Kassem concluded his remarks by emphasizing: 'Owagik holds a distinguished land portfolio in several key cities, and we are working on developing diverse projects with an innovative vision in the coming period. Our goal is to meet the demands of the evolving Egyptian market and strengthen our role as a trusted real estate developer and active contributor to shaping a sustainable urban future.'

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store