Lebanese ambassador kicks off real-estate project in Algeria

Lebanese ambassador to Algeria gave the go-ahead on Thursday to the real-estate promotion project in the area of Ouled Fayet west of Algiers conducted by the Lebanese company of real-estate development on 20,000 square metres worth $1.5 billion.

• The project will be delivered in 2011 after 30 months of works. It includes 10 luxurious with 419 apartments, two business towels, a trade centre, a sport centre with a swimming pool and a gym.
• The Company’s CEO Mohamed Laarissi told Echorouk the project is part of real-estate development in Algeria especially that the Lebanese company achieved important results in the Arab Gulf and France’s markets.
• The project is funded by Algerian banks while the Lebanese company had sold the apartments on designs before the launching of the project.