HB Holding N.V. and Marchica Med Establish a Groundbreaking Strategic Partnership with the Signing of a Memorandum of Understanding

HB Holding N.V. and Marchica Med Establish a Groundbreaking Strategic Partnership with the Signing of a Memorandum of Understanding*

Eindhoven, July 2, 2024

Marchica Med, a subsidiary of the Agency for the Development of the Marchica Lagoon (Morocco), and HB Holding N.V. (ISIN: NL0015000NA2), a Dutch real estate and technology investment firm, have signed a memorandum of understanding to develop a unique real estate and tourism project in Atalayoun, in northern Morocco.

The city of Nador, located directly on the Mediterranean Sea, has established itself over the past two decades as a flagship project on the African continent and in the Arab world with its impressive infrastructure and tourism development. The Atalayoun Peninsula is a particular highlight in this context. The region is also gaining additional momentum with the soon-expected commissioning of the Nador seaport. Experts predict that Nador will develop similarly to Tangier, the Moroccan port city on the Strait of Gibraltar, which has grown into one of Africa's most important ports since 2007. Many European companies have settled there as part of market expansion into West and North Africa, leading to numerous positive spillover effects.


The Marchica Lagoon Project

The strategic partnership between Marchica Med and HB Holding N.V. aims to transform Atalayoun, part of the development program for the Marchica Lagoon in the Nador province, into a premier tourist destination. The project, with an estimated investment volume of over 800 million Dirhams (approximately 80 million Euros), will combine modernity with ecological responsibility and highlight the region's natural and cultural heritage. It will include excellent infrastructure, a four-star hotel with around 130 rooms, high-quality residences, and luxury villas, with a decisive focus on sustainability and ecological protection.

Atalayoun, the first "jewel" of Marchica, is a residential and vacation complex spanning 154 hectares on the namesake peninsula. The project includes a marina with 140 berths, a golf academy, various residential complexes, and numerous dining and entertainment facilities. The first of four planned hotels, a five-star establishment, opened in 2019.

New Dynamics

"This memorandum of understanding marks a crucial turning point in the implementation strategy for the Marchica Lagoon project," said Loubna Boutaleb, Director General of the Agency for the Development of the Marchica Lagoon and CEO of Marchica Med. "It will accelerate the implementation of this strategic initiative, launched by His Majesty the King in 2008, aimed at promoting progress and sustainable development in the Oriental region and ensuring dignified living conditions for its citizens."

Boutaleb emphasized that developing partnerships and creating significant synergies with the private sector will bring new dynamism to the socio-economic and tourism development of the region. "The collaboration with HB Holding N.V. will help realize a modern, environmentally friendly project that will have significant positive impacts on the province of Nador and the entire region," she added.

This new partnership aligns with the mid-term action plan of Marchica Med, approved at the last board meeting. The plan aims to initiate a new phase of the project and accelerate the development of Atalayoun through increased private investments.

Commitment to Sustainable and High-Quality Development

The realization of the large project is expected to create around 100 permanent jobs, bringing significant socio-economic benefits to the region.

Henri Broen, CEO, and Solayman Bouharrou, partner at HB Holding, expressed their confidence in the project. "Our experience in real estate and tourism development, combined with Marchica Med's vision for sustainable growth, will enable us to create a project that meets high-quality standards and enhances the Marchica Lagoon. It will be a benchmark for responsible tourism and sustainable development in Morocco, particularly in Nador," they stated.

Company Profile HB Holding N.V.:
HB Holding N.V. is a Dutch holding company listed on the German stock exchange (ISIN: NL0015000NA2), specializing in real estate investments and new technologies. Of particular significance is the subsidiary HenriPay, www.henripay.com, which aims to position itself as a NEO Bank alongside providing innovative payment services. Their activities are primarily focused on Europe.