Saudi SNASCO to invest $ 400 million in Oran

The saudi real estate group Snasco announced a $ 400 million investment plan to develop the Oran Coast path west of Algeria. The project comprises touristic and commercial facilities as well as residential units

• Talal Essarie said during the seminar on the presentation of the large investment’s details, “The complex opposite to the Palace of conferences would completely change the seafront of Oran with an area of 150.000 square meters, that’s why we allocated 400 million euros for this implementation. It also contains more than 2000 houses for 10.000 people, as well as shops, green spaces and a large mosque and Islamic Institute”.
• SNASCO had earlier opened a regional office in Algiers in order to supervise its projects and investments in Algeria and the Arab Maghrab countries, “We want to create good relationships with the Algerian partner that’s why we dealt with the most important Algerian experts in order to get a better design for Oran and its inhabitants”.