Qatar, Algeria to dive into tourism, real estate investments

Original Story Published by: Asmahan Qarjouli, Doha News, www.dohanews.co
Photo Source: Benallal Mourid

Qatar is the largest Arab investor in Algeria, accounting for 74% of all foreign investments as the two countries share numerous memoranda in different sectors. 

Qatari and Algerian businessmen discussed bilateral investment opportunities in the real estate and tourism sectors during a meeting in Algiers, the Gulf state’s news agency (QNA) reported on Saturday.

The meetings were attended by the Qatari Businessmen Association (QBA).

Algerian officials at the meetings included the Minister of Tourism and Handicrafts Yacine Hamadi, as well as Minister of Housing, Urban Planning and City Mohamed Tarek Belaribi.

QBA Chairman Sheikh Faisal bin Qassim Al-Thani suggested the establishment of an integrated touristic city that will enable the investment of the two countries and beyond. The officials looked into the latest investment trends in both sectors, with Sheikh Faisal pointing towards the rise of transferring state-owned hotels to the private sector to better manage them.

Hamadi also delivered the QBA delegation with a presentation about Algeria’s tourism and hotel investment opportunities. Some of the potential investment sites include the Msida area near Annaba and the Tunisian border, as well as the Ghar Daya area, along with various others.

The tourism minister said the opportunities come as the two sides continue to renew “their will to strengthen and intensify efforts” to develop their business ties “in a way that serves the interests of the two countries.”

Meanwhile, Algeria’s minister of housing said that a new investment law is being studied that will enable the free investment of foreign and Algerian investors.