{"id":695581,"date":"2026-04-23T00:00:00","date_gmt":"2026-04-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?p=695581"},"modified":"2026-04-23T03:34:06","modified_gmt":"2026-04-23T03:34:06","slug":"sawiris-led-consortium-starts-rebuilding-eur-200-mn-moroccan-mogador-resort","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/04\/23\/sawiris-led-consortium-starts-rebuilding-eur-200-mn-moroccan-mogador-resort\/","title":{"rendered":"Sawiris-led consortium starts rebuilding EUR 200 mn Moroccan Mogador resort"},"content":{"rendered":"

A <\/strong>consortium<\/strong> led by b\u2019naire Samih Sawiris is investing EUR 200 mn (c. <\/strong>USD 215 mn) to kick off the first phase of rebuilding the long-stalled Mogador resort in Morocco<\/strong>, a source with knowledge of the project tells EnterpriseAM. The second phase is expected to cost between EUR 100-150 mn, the source added. Phase 1 will see the development of 800 rooms across three hotels and a club, our source tells us.<\/p>\n

The players:<\/strong> The consortium consists of Sawiris\u2019 SOSTNT, his Luxembourg-based investment company, we were told back in 2023<\/a>. The three other investors are Emirati investment company Al Nowais, Egyptian hotel chain Sunrise Resorts & Cruises, and Orascom Construction JV Besix.<\/p>\n

Why it matters:<\/strong> Morocco is preparing to host the 2030 World Cup and needs every room it can build to hit its target of 26 mn tourists annually<\/a> by the time stadiums are full. \u201cEssaouira's proximity to Marrakech and Agadir positions it as a natural extension of Morocco\u2019s key tourism corridors [with the developments directly supporting] the country's ability to absorb increased visitor volumes,\u201d our source tells us.<\/p>\n

IN CONTEXT-<\/strong> The original Mogador resort project dates back to 2004, but eventually went bankrupt and stalled. The Sawiris-led consortium took over in 2023<\/a> to revive the resort with an investment ticket of MAD 4 bn (c. USD 390 mn) at the time. The consortium\u2019s acquisition of the resort\u2019s management company SAEMOG \u2014 through Dubai-based Orascom Investments LLC \u2014 got clearance from Morocco\u2019s Competition Council in 2024<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Phase 1 of the AED 4 bn re-development project will feature 800 hotel keys<\/p>\n","protected":false},"author":1,"featured_media":695582,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7272],"tags":[903,72,125,7128,363,1844,6729,238],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-695581","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-al-nowais","tag-enterpriseam","tag-investment-watch","tag-ma-watch","tag-orascom-construction","tag-samih-sawiris","tag-sunrise-resorts-cruises","tag-tourism","wpautop","entry"],"acf":{"mongo_id":"842aa745-7ed4-4b49-8fe5-6a063bf426e0","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/11\/1212.jpg","photo_position":"above","homepage_title":"","full_issue_title":"The Sawiris playbook heads to Morocco","related_issue":[695573],"teaser":"Phase 1 of the AED 4 bn re-development project will feature 800 hotel keys"},"yoast_head":"\nSawiris-led consortium starts rebuilding EUR 200 mn Moroccan Mogador resort - 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Sawiris purchased a 30% stake in the company from founder and sole shareholder Dietmar\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/4\/75.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591471,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/08\/egyptian-bnaire-samih-sawiris-acquires-defunct-thomas-cooks-german-business\/","url_meta":{"origin":695581,"position":4},"title":"Egyptian b\u2019naire Samih Sawiris acquires defunct Thomas Cook\u2019s German business","author":"enterpriseam admin","date":"8 December 2019","format":false,"excerpt":"M&A WATCH- Samih Sawiris acquires Thomas Cook\u2019s German business: The Samih Sawiris majority-owned Raiffeisen Touristik Group (RT) has acquired the German subsidiary of now-bankrupt British travel giant Thomas Cook, Sawiris\u2019 Orascom Development Egypt (ODE) said in a press release (pdf). The acquisition, for which no value was disclosed, will bring\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":577021,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/07\/ifc-could-help-finance-500-mw-al-nowais-sumitomo-wind-farm\/","url_meta":{"origin":695581,"position":5},"title":"IFC could help finance 500 MW Al Nowais-Sumitomo wind farm","author":"enterpriseam admin","date":"7 November 2022","format":false,"excerpt":"IFC money for 500 MW wind project? The International Finance Corporation (IFC) could provide USD 83 mn to an Emirati-Japanese consortium to part-fund their planned 500 MW wind farm in Ras Ghareb, according to the lender\u2019s website. The financing is pending approval and would consist of a USD 75 mn\u2026","rel":"","context":"In "Development finance"","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/106.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/695581","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=695581"}],"version-history":[{"count":1,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/695581\/revisions"}],"predecessor-version":[{"id":695624,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/695581\/revisions\/695624"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/695573"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/695582"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=695581"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=695581"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=695581"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=695581"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=695581"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}