Can Casablanca recreate the success of Dubai's financial center?

The United Arab Emirates brings to mind opulent luxury: the seven-star Burj Al-Arab, swank hotels with an array of fine-dining options, caravans of exotic sports cars cruising along the JBR Walk, and the world’s tallest building at 828 meters — all symbols of progress, wealth, and success.

Each of these icons has contributed to Dubai’s identity and led to it becoming one of the world’s preeminent tourist destinations. Yet, there are other measures of economic success — albeit less visible to the casual visitor.

Since its launch in 2004, the Dubai International Financial Centre (DIFC) has grown steadily and is now classified as a global contender, according to the March 2013 Global Financial Centres Index, alongside Beijing and Moscow. This success has not gone unnoticed in Casablanca, which seeks to emulate Dubai’s example in hopes of attracting foreign investment and bulge-bracket financial institutions. Morocco’s largest city will attempt to build the Casablanca Finance City (CFC), the first of its type and scale in North Africa.

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Can Casablanca recreate the success of Dubai’s financial center?