SNASCO operations begin in Algeria

Leading real estate firm, SNASCO, whose intention to enter the Algerian real estate market was recently reported, has announced the opening of its offices in Hidra- Algeria, following an intensive examination of the market and the opportunities inherent therein.SNASCO Deputy Chairman, Mr Talal Al Sorayai, said during the announcement, “We’ve been looking into the possibilities in the Algerian market for some time, and are very pleased to announce the opening of our new offices here. We look forward to establishing ourselves in this exciting market, forming new relationships and partnerships and contributing to the growth of this vibrant economy.”

The firm has partnered with several strategic partners, and purchased number of wide prime development land.

SNASCO’s offices in Algeria will service that country as well as the general North Africa region, where studies have shown a significant increase in investment across a number of economic sectors.

Al Sorayai says of the firm’s plans for Algeria, “We’ll continue to explore the opportunities open to us in this market, conducting studies and researching new projects in the next half of the financial year.”

Algeria is rich in natural resources and ideally situated just south of the European continent, making the region are a prime target for investment, while the demand for housing and other property development is high, resulting in favorable circumstances for real estate developers to set up shop.