Oil companies operating in the region will co-finance the 4,483 hectare project
An international tender is set to be floated by Algeria before the end of this year, inviting firms to bid for a $6bn city project.
A report by Zawya said the 4,483-hectare New City Hassi Messaoud will be co-financed by the oil companies operating in the region, including Algeria’s state-owned Sonatrach.
It consists of over 18,000 residential units, divided between collective and individual residences, 32 nurseries and kindergarten facilities, 22 elementary schools, six high schools and complementary schools, an Algerian Petroleum Institute, a Research and Development Institute, several sports fields, a hospital with a capacity of 240 beds, a health centre and a multi-service clinic.
“Construction, which is expected to begin in the first quarter of 2013, will take 96 months to complete,” Yousef Qureshi, president of the Popular Council of Ouargla, told Zawya.
The North African Arab country needs 225,000 housing units per year to meet demand, of which the government builds 75,000 units annually, leaving a shortage of 150,000, according to data from the Ministry of Housing and Urbanisation.