Ithmar has invested in large scale and transformational projects supporting long-term strategies and with a strong socio-economic impact. Ithmar’s portfolio is invested in two strategic sectors, tourism and real estate.





Sponsored by Ithmar and launched in 2011, Wessal is a joint-venture that brings together 5 Sovereign Wealth Funds: Al Ajial Investment Fund Holding (Kuwait), Mubadala Investment Company (United Arab Emirates), Public Investment Fund (Saudi Arabia), Qatar Holding (Qatar) and  Ithmar.



Wessal is an investment vehicle with a unique partnership structure, as it is equally owned by the five partners, with a total equity commitment of EUR 2.5 billion.



Since its establishment, Wessal has launched two large scale projects:


Wessal Bouregreg: a mixed used project related to the development of the second segment of the Bouregreg valley that includes shopping malls, hotels, a business center and a residential and leisure center.


Wessal Casa-Port: a mixed used project that aims to create a new destination in the heart of Casablanca, based on the reconversion of the old fishing port and shipyard into an integrated project combining leisure, shops, offices and residential components.

Company for the promotion and development of Taghazout Bay (SAPST)

Established in 2011, the Company for the promotion and development of Taghazout Bay’s objective is to enhance the Taghazout Bay coastline and to strengthen the positioning of the seaside resort offer by developing a destination for all, around sport, nature and discovery. In 2012, Ithmar has acquired a stake in the capital of the SAPST, alongside CDG, Sud Partners and SMIT.

Saidia Development Company (SDS)

Established in 2011, Saidia Development Company’s objective is the repositioning of the seaside resort and valorization of the Oriental region through a diversified proposition and a tourism offer driven by a sustainable development approach.