"Conventions (worth) about six billion US dollars were signed today," Dubai Holding CEO Mohamed Abdellah Guergaoui told reporters, adding that further large-scale investments were planned.

He said the deals had been signed at the Royal Palace in Casablanca.

"It's mainly real estate and tourism projects," Guergaoui said.

More tourists were coming to Morocco "so we have to build hotels and entertainment now," he explained.

The company was interested in Morocco "because it's close to Europe and free-trade agreements were signed with both the US and the European Union".

Dubai Holding was also eyeing other sectors of the Moroccan economy, such as agriculture, and discussing projects with Tunisia and Egypt.

Dubai Holding was set up in October 2004 to run a host of "mega-projects" designed to turn the affluent Gulf emirate of Dubai into a business and leisure hub.

Established on the instructions of Crown Prince Sheikh Mohammed bin Rashed al-Maktoum, the company was set up to help start ventures in the fields of media, healthcare, tourism, property, energy and industry.

- Nampa-AFP

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