Ithmar Capital and QInvest Plan 3 Mega Projects

Operating through a new company, Oryx Capital, Morocco’s sovereign fund Ithmar Capital is cooperating with QInvest in developing three tourism-related projects in Morocco.  Orxy Capital mobilizes with an initial budget of $5.5 million for initial feasibility studies.

The projects include:

  • A resort in the mountainous region of Oukaimeden, featuring sports and entertainment around a medina;
  • An amusement park in the Marrakech region; and
  • A seaside resort now nicknamed the “White Beach” or Al Chatii Al Abdyad.

Back in May 2016, Ithmar Capital received approval of Moroccan public authorities to launch such a venture.  Ithmar was formerly operated as the Moroccan Fund for Tourism Development (FMDT).