CASABLANCA, Morocco (AP) — Towering over the Moroccan capital’s historic cityscape, a $700 million, 55-story skyscraper opened this week in a move that underscores the country’s expanding global ambitions.

Named for King Mohammed VI and inspired by a rocket on its launchpad, the 820-foot Mohammed VI Tower will feature a luxury Waldorf Astoria hotel, offices, shops, restaurants and upscale apartments.

Among Africa’s tallest skyscrapers, the tower is expected to generate 450 direct jobs and 3,500 indirect ones, Leila Haddaoui, director of development company O Tower, told reporters.

It stands in Salé, the twin city of the capital, Rabat, and was built over eight years with the involvement of more than 2,500 workers from over a dozen countries. It has already appeared on Morocco’s 200-dirham (about $20) banknote.

It stands near the Grand Theatre of Rabat, designed by the late Iraqi-British architect Zaha Hadid, and offers views of the Atlantic Ocean and the twin cities.

With the project, Morocco is positioning Rabat and Salé — often overlooked by tourists — on the international stage, as part of a broader tourism push, Haddaoui added.

Already Africa’s most visited country, Morocco relies on tourism economically and is seeking to attract more visitors, as regional conflicts are believed to steer travelers toward perceived safer destinations. The effort comes as it prepares to co-host the 2030 FIFA World Cup.

For its founders, the newly inaugurated tower is a symbol of Morocco’s growing soft power in Africa and the Middle East. It reflects the country’s ambition to position itself as a leading regional player through high-profile development projects aimed at expanding its influence.

Critics say development is concentrated along Morocco’s Atlantic corridor, while other areas remain underdeveloped. Gen Z-led protests last year highlighted grievances over high unemployment and struggling public services.

The tower, with a total area of more than 102,800 square meters (about 1.1 million square feet), was conceived by Othmane Benjelloun, a 93-year-old billionaire who owns Bank of Africa, a Moroccan bank once state-owned and now highly influential across the continent.

The magnate was invited by NASA in 1969 to a spaceflight simulation ahead of the Apollo 12 mission to the moon, and the idea for the skyscraper was born from that visit, according to a statement by tower management.