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
Congo raises $700 million in 2035 bond issue Proceeds to refinance 2032 Eurobond, ease near-term pressures Order book topped $2...
Project would support up to $230M in trade finance with Standard Chartered IFC plans up to $40M in funded and unfunded risk...
Bilateral deal follows $3.5B debt relief agreed with official creditors France also signs €81.5M financing plan for reform program Ethiopia...
Absa Kenya hires M-PESA’s Sitoyo Lopokoiyit, signalling a shift from branch banking to a telecom-style digital platform mindset. The move shows that...
Most Read
01

Deposits grow 2.7%, supporting lending recovery Average loan sizes small, credit risk persists ...

Togo Microfinance: Deposits and Loans Rise Simultaneously in Q3 2025
02

Oil majors expand offshore exploration from Senegal to Angola Gulf of Guinea accounts for about 1...

Gulf of Guinea regains appeal as a key exploration hub for oil majors
03

Rwanda, partners break ground on $2 billion Kigali Innovation City Smart city targets ...

Rwanda Mobilises Global, Local Finance for $2Bln Innovation City Targeting Africa’s Digital Economy
04

MTN is considering buying back telecom towers it sold years ago, signalling that control of infras...

MTN’s Talks to Buyout IHS: A Strategic Reversal That Could Reshape African Telecoms
05

The government is asking SOTEL and Airtel to amend a 2025 agreement The N’Djamena–Mberé route...

Chad Reopens Talks with Telecom Operators Over Strategic Fiber Link
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.