$20 billion worth of deals in the works for Emaar and Algeria
UAE Property giant Emaar is reportedly negotiating some $20 billion worth of deal with Algeria.
Emaar Chairman Mohammad Ali Al Abbar recently met with Algerian Prime Minister Abdelaziz Belkhadem to discuss cooperation between the two countries.
"The visit aimed at completing the final details related to five huge real estate projects that Emaar is planning in Algeria, with a total cost exceeding $20 billion," El Khabar said, according to Reuters.
The projects reportedly include hotels, shopping malls, residential blocks, office towers in Algiers and its coastline. The company also plans to establish a local subsidiary in Algeria at some point in the future.