EIIC will keep up investment projects in Algeria: CEO

Emirates International Investment Company (EIIC) branch in Algeria will continue its investment activities worth $17 to 20 million, CEO Kamil Antoine Nassar says.

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• EIIC’s activities in Algeria include investment projects outside hydrocarbons and Dounya Parc, a $5billion urban park project.
• Nassar’s remarks come to deny allegations that the Emirati company is selling Dounya Park plans to foreign investors.
• “The company did not sell any proposed villas included in Dounya Park to foreigners.  These are no more than baseless rumours,” he told Echorouk in Algiers.
• “The company still confirms that Dounya Park is an investment project open to all Algerians without exception,” he added.
• He also said his company principally relies on Algerian competences and manpower as most of its employees are Algerians.
• Previously, the Emirati company had announced that Dounya would offer nearly 12,260 apartments and 986 villas. It would also create 22,000 to 25,000 permanent new jobs.