Finance

Algeria: Dounia Park scandal

Thursday, 01 September 2016 21:12

In Algeria, Abdelouahab Nouri, the Minister of Land Development, Tourism and Craftsmanship, on an inspection tour in the tourism expansion zones (ZET), complained about land grabbing which impaired the optimal implementation of the Parc des Grands Vents (Dounia Park) project in Algiers.

The complex which was to become a recreation park with playing zones, green spaces and restaurants, has obviously been poorly handled. “The project took dangerous turns and now requires strict and urgent measures. I was really surprised when I found out about and studied the status of this project. It is true that some executives previously told me that plots were being illegally distributed but I couldn’t believe them because the park is supposed to be well-protected. Sadly, everything was true. Against the law, plots are indeed being distributed for fake projects, mainly portrayed as fast-foods,” the minister told El Moudjahid.  

Out of the 1,059 hectares dedicated to the project, nearly 65 hectares were illegally distributed. This drove land management offices to cancel contracts for a hundred projects as the minister said “it was impossible to promote the development of tourism by encouraging such non-respect of the law”.

Souha Touré

On the same topic
GuarantCo issues $20 million, 23-year guarantee to Kenya’s Dhamana Guarantee boosts local-currency infrastructure financing in East...
Mali denies reports of imminent AES single currency launch Denial aims to curb uncertainty amid high financing needs Investor caution...
WAEMU states target 12.7 trillion CFA francs in 2026 auctions 2025 issuance hit record 11.9 trillion as external funding tightened Secondary...
XSML Capital closed African Rivers Fund IV at $142m, above its $135m target The fund aims to finance about 50 small and medium-sized...
Most Read
01

The BoxCommerce–Mastercard Partnership introduces prepaid cards, giving SMEs instant access to e...

South Africa’s BoxCommerce Partners with Mastercard on SME Fintech Solution
02

Circular migration is based on structured, value-added mobility between countries of origin and host...

Circular migration as a lever to turn Africa’s student exodus into value
03

Except for Tunisia entering the Top 10 at Libya’s expense, and Morocco moving up to sixth ahead of A...

Global Firepower Index 2026: Egypt, Algeria, Nigeria Lead Africa's Military Rankings
04

BRVM listed the bonds of the FCTC Sonabhy 8.1% 2025–2031, marking Burkina Faso’s first securitiz...

BRVM Lists Burkina Faso’s First Securitization Fund Bonds
05

President Tinubu approved incentives limited to the Bonga South West oil project. The project tar...

Nigeria approves targeted incentives to speed up Shell’s Bonga South West project
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.