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Update: Saturday, 15 May 2010    

Emaar to Invest $20b in Algeria

Monday Oct 09 2006.

Dubai, Asharq Al-Awsat - Emaar Properties have obtained the necessary government licenses for commencing its huge real estate and tourist projects in Algeria with investments of over $20 billion, according to Algerian Minister of Participation and Investment Promotion Hamid Temmar.

Work on these projects is expected to start in the first half of next year according to a report in The Gulf Today.

The UAE news agency "WAM" quoted the report as saying that Emaar’s five projects will be carried out in different parts of Algeria including the capital Algiers and Algerian western coastline stretching to the borders of the State of Tibaza.

The first project is concerned with developing Algiers’ seafront while the second project is concerned with rehabilitating the central railway station in the centre of the capital and the third project is concerned with setting up a tourist city and a health city in the capital. While the fourth project includes building of a tourist vessel on Colonel Abbas Beach, the fifth project is concerned with setting up a 90-hectare information city in Sidi Abdullah, 25 kilometres south-west Algiers.

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