Abu Dhabi-based property developer, IMKAN, which is a subsidiary of Abu Dhabi Capital Group (ADCG) has awarded SOGEA MAROC a three-year, $81.7m (AED300m) contract to construct Phase 1 of the 100,000m2 Le Carrousel mixed-use project located on the coastline of the Morocco’s capital, Rabat.
The megaproject was launched by IMKAN in January 2020, and is valued at $408.3m (AED1.5bn), featuring 10ha of surface area.
As part of the contract, SOGEA MAROC, which is a subsidiary of French concessions and construction firm Vinci, will build the residential areas, seafront promenade, and over 40 retail outlets across Le Carrousel.
Speaking about the contract award, chief executive officer of IMKAN, Walid El Hindi, said: “This is the first contract to be awarded for the flagship Le Carrousel community in Rabat.”
El Hindi added that the company is “analysing and finalising partnerships for construction of the shopping mall and hotel”, announcement for which is imminent.
“When choosing a construction partner, whether here in the UAE or globally it is important that we work with a company that shares our beliefs and ethos to deliver to the highest standards, and importantly, on time.”
El Hindi added: “We work with world-class partners across our international sites and we’re proud to collaborate with the VINCI group and SOGEA MAROC in Morocco. We are confident that our new partner will play a pivotal role in the seamless delivery of Le Carrousel.”
According to IMKAN, upon being fully operational, Le Carrousel is expected to create more than 1,100 jobs. More than 30% of Le Carrousel’s area will be reserved for green spaces, while 12,000m2 of the area will be dedicated for office spaces.
The development will also feature 500-metre seafront promenade. It will also be home to a five-star hotel and a mall with an area spanning 30,000m2, featuring 120 shops.
IMKAN had revealed earlier that the circular design of Le Carrousel was inspired by Dutch artist M.C. Escher, whose work often includes paradoxical architectural designs of seemingly infinite loops.