Saudi King Gets New Neighbors as Morocco Evades Regional Turmoil - Bloomberg:
"Beyond the walls of a palace outside Casablanca owned by Saudi Arabia’s King Abdullah, Moroccans are buying housing plots that one of the Middle East’s biggest construction firms will fold into a new mini city.
The $346 million plan by Jeddah-based Saudi Binladin Group will turn 250 hectares of former local-authority land into homes for 150,000 people, hospitals and an artificial lake.
“The plots are selling like hot cakes,” Nahid Iraqi, a sales executive at Garan, the local affiliate of Saudi Binladin, said in a Sept. 27 interview. “We expect to close the sale this month.”"
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