UAE EMIRAL to Pay a $50,000 Fine in Algeria

Algeria government is still awaiting the embodiment of Gulf companies projects that entered the national market years ago with kites that carried designs of hotels and tourism cities, that stunned Algerian officials at the time, but they stay then just ink on paper, and are experiencing a significant delay in the achievement, which made Ahmed Ouyahia describe them, in one of his statements, as “Paper projects.”

“Algeria Forum” project, which completion was signed between an Algerian and UAE EMIRAL company, in Algiers Coast of Moretti on 16 hectares, is one of the most important projects, which valued exceeds half a billion dollars, and it remains until today awaiting for delivery, as it was supposed to finish works in a matter of 30 months, an overall rating, as was declared in 2012, but the project was never completed to the present day, and even the 4 residential towers, which are adjacent to the city of water, hotels, commercial center, and villas that are located on the Paint Maritime road, as this comes at a time the government is asking for the delivery of tourism projects, that will be one of the most important alternatives, to the oil price collapse and treasury revenues by 50%.

Algiers Tourism Director, Mohamed Salah Ben Akmoum, said the government will not accept delays in delivering hotel projects, that can help Algeria’s economy, during the next phase, to cover the shortfall.

“Government will impose fines of 5 to 10% on the companies that did not respect the contract of delivery, including Emiral, if it will not comply with the content of the contract with the Algerian authorities. Algeria preferred to rush the completion of residential towers and postpone the hotels’ construction, and other structures that are contained in the “Algeria Forum” project.”

“Four buildings that include residential apartments, will be delivered on the most by the end of the year, while the apartments of the first building, will be sold by the beginning of the first four months of 2017, I.e in a matter of two months at the latest. Government will not tolerate the companies that offend the provided deadlines, whether it comes to the UAE Emiral or the American TRUST or other companies, which proves that Emiral will be forced to pay $25 m to $ 50 m fine, if they will not deliver the project.”

“A set of projects will improve the conditions of the reception and tourism in Algiers, like increasing the number of green spaces and recreation areas, and did not rule out the hiring of foreigners for the construction of an amusement park and major entertainment city in the capital during the coming stage. Government is making large efforts to achieve the underlined objectives, and cover the deficit in beds which reached 25,000 beds, as 10 hotels were delivered last year, and 12 others are expected to be delivered during 2016”.