Assure Immo CEO provides details on 65,000 housing-unit project in Algeria

CEO of Assure Immo, a real estate promotion company, the new name of Cnep Immo said the 65,000 housing-unit project, sponsored by AADL and Cnep Banque, is making huge progress.

• “The company aims to achieve 20,000 new housing units  in Algeria within this year. The 65,000 housing unit project funded by Cnep and AADL will be completely achieved as part of the president’s one million houses project, Mokhtar Boufatite told “Echorouk” in an interview.
• Cnep Immo used to belong to Algeria’s Cnep before selling it to public insurance companies.   
• Mokhtar Boufatite said his company’s message to the public opinion is that its main activities and missions will not be changed even if the owner is different.
• He stressed the necessity of a comprehensive evaluation of the process of dealing with foreign construction companies. “This would help to take a strict position concerning the appropriate way to set up a real national construction system.”
• He said his company had made remarkable progress in the achievement of  a 65,000 housing unit programme. “A total of 10,981 flats are in the process of construction while 10,623 are under preliminary study.
• “More than 10,000 flats will be  in the process of construction when the government announces the new price agreement on the new square metre reached a few days ago,” he added.
• Applicants’ files via newspapers to be examined
• Mokhtar Boufatite said people who applied in 2006 following the offers on national newspapers will be taken in consideration. “All applications will be examined in order to determine beneficiaries and the demand volume.”
• He added that huge real estate promotion projects will be delivered in 2009 including El Hamma commercial project. “It will be ready before the end of June after turning it into business towers and offices.”
• The Chief Executive Official said a commercial centre in Boumerdes province (50 km east of Algiers) will be delivered between July and December. It includes a business centre, a hotel, a cinema and many facilities.
• “It will be delivered before the end of 2009. That would reinforce infrastructures in terms of business offices, leisure and shopping centres in Boumerdes.”