Kuwait-based Alargan International Real Estate Company has announced plans to develop commercial and residential projects worth KD60 million ($199 million) in the Moroccan real estate market.

These projects will come up on a 10,000-sq-m area in the city of Casablanca, reported Al Qabas daily, citing Alargan's vice chairman and CEO Khaled Al Mashaan.

The Kuwaiti firm will also provide long-stay hotel rooms and offices, Al Mashaan said.

The company is also eyeing both the Indian and Egyptian real estate markets for big investment as part of its regional expansion strategy, said the report.