“Eimar” group to depart from Algeria

Dubai- based real estate company “ Eimar” yesterday announced the closure of its office here in Algiers for failing to concretize its projects, conforming thus the news reported last Thursday by “Echourok”.

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• A formal declaration released by the group revealed that the company was about to launch four major projects valued at $ 20 billions, but for various reasons out of the group’s reach, these projects didn’t start forcing the consortium to close its office.
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• The economic expert Mohammed Behloul has indicated that the Group’s decision to quit Algeria will have a negative impact on the future Algerian investments’ guidelines, knowing the company’s weight at the international level and its presence in various Middle- East, North African and Asian countries.
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• The Algerian authorities signed a protocol accord with the group “Eimar” in March 2008 stipulating that company would invest $ 20 billions, considered as the biggest accord ever signed.
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