According to Islam Zahid, Vice President of Menara Holding, Saudi investors are eyeing a strategic partnership to organize a Formula 1 event at the Moulay El Hassan circuit in Marrakech, thereby entering the International Automobile Federation (FIA) category.
In related news, Zahid, who oversees MARRAKECH GRAND PRIX, a subsidiary of MENARA HOLDING, confirmed ongoing negotiations with Saudi investors. They have proposed an investment of €23 million as part of a strategic collaboration.
Many international investors believe Marrakech possesses top-tier infrastructure and amenities necessary to host a Formula 1 event, potentially setting new global standards.
Zahid, known for his pivotal role in Menara Holding, leverages his extensive networks in investment, tourism marketing, and real estate to directly engage in negotiations with Saudi counterparts, ensuring the success of this significant venture. The project is expected to greatly benefit Marrakech and elevate its standing on the global stage.