Moroccan investment firm Libra Capital has appointed Mourjan Marinas IGY, the luxury developer and manager of marinas and yachting lifestyle destinations, to start the master planning process for its Riviera Waterfront project.

Located South West of Morocco, the development plans a range of commercial, residential and leisure facilities such as luxury hotels, golf courses, a host of exclusive retail and dining outlets and a recreational marina and is due for completion in 2012.

As well as accommodating smaller yachts, there are also plans to capitalise on the trend for larger vessels with a substantial number of berths being planned for megayachts.

To begin planning the framework for the marina components, Mourjan Marinas IGY have been engaged to lead a variety of marine environmental studies ahead of construction.

This will also include commercial viability and feasibility studies to further spearhead the master planning process of this vibrant development.

CEO of Mourjan Marinas IGY, Michael Horrigan said "We are very much looking forward to working on this exciting new development facing the vibrant Atlantic Coast as we aim to stand tall as the region’s premier marinas and yachting lifestyle developer and operator."

"It is with great pleasure that we start work with Libra Capital to ensure successful and smooth operations in the run up to the construction, development and management of this world class venture for Morocco," he noted.

The Riviera Waterfront project highlights Morocco’s dynamic vision for the future of the country, as this exciting new development will promote it as a country dedicated to modern and efficient development projects.

CEO of Libra Capital, Rachid Laaouimir said: "We are delighted to be working with a company as reliable and experienced in successful marina development and management as Mourjan Marinas IGY for The Riviera Waterfront Project."

"We remain committed to providing the very best projects and so we look forward to working closely with the Mourjan Marinas IGY team to ensure we achieve success for the future of The Riviera Waterfront project and the country of Morocco," he added.

This announcement further emphasises Mourjan Marinas IGY’s own vision to be at the forefront of the maritime industry in this region.

As well as the recently announced Grand Sochi Marina in Russia and the Marsa Al Seef Development in Bahrain, the company is also in the process of developing other marina projects in the Middle East, Horrigan said.-TradeArabia News Service