EIIC restarts phase one of $5.9bn Algerian project
1,059 hectare Dounya Park project to be completed by 2017 following significant disruptions
Emirates International Investment Company has recommenced work on phase one of the $5.9bn Dounya Park project in Algiers, the capital of Algeria, it was announced on Wednesday.
An official of the Algeria National Investment Development Agency said that the project was scheduled to finish within the next 18 months. Phase one includes the establishment of an international school, villas and residential buildings, along with green spaces and recreational areas.
The project has faced numerous delays in the past that has resulted in all work on the project stopping.
The second phase of the project will see the construction of two five star hotels, a hospital, commercial facilities and business centres. All phases of the Dounya project are expected to be completed by 2017.
Built on 1,059 hectares, the park has expanded from the originally planned 630 hectares. The extension came in April 2012 via a government decree.
According to Zawya Projects Monitors, the project is located in the west of Algiers and will include 12,260 apartments and 986 villas. In addition it will contain facilities such as a 200 bed hospital and a 500 room hotel.
It is expected to create more than 25,000 jobs for the local economy during its construction period.
