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Message: Big Bucks going to northern Africa
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Big Bucks going to northern Africa

posted on Feb 12, 2008 03:36AM

Emaar targets $30bn for Algeria

12/02/2008 10:51:12 AM GMT Comments (0) Add a comment
Dubai-based Emaar Properties has offered to boost its investments in Algeria to $30bn, reported Al-Bayan. Abdelhamid Temmar, Algeria's minister of industry and investment promotion, said the company's first project, worth $5.5bn, will start in the next few weeks. In October, Emaar had agreed to develop four residential and leisure projects around Algiers at a cost of $20bn.

Dubai-based Emaar Properties has offered to boost its investments in Algeria to $30bn, reported Al-Bayan. Abdelhamid Temmar, Algeria's minister of industry and investment promotion, said the company's first project, worth $5.5bn, will start in the next few weeks. In October, Emaar had agreed to develop four residential and leisure projects around Algiers at a cost of $20bn.
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