ID :
69112
Sun, 07/05/2009 - 15:28
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Shortlink :
https://www.oananews.org//node/69112
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Emaar International shuts down its Algerian office
Dubai, July 5, 2009 (WAM) - Emaar International has shut down its office in Algeria due to the lack of progress on business, said a statement from the parent company, Emaar, in Dubai. The Algerian office was opened to follow up progress of work on developments envisaged earlier.
'Emaar created designs for key developments in the country and the master plans were submitted to the authorities for necessary approval', said the statement. The company chose its presence in Algeria as part of its strategy to expand its regional domain in Middle East and North Africa.
'Due to a lack of progress which is beyond the company's control, the office set up to drive these projects forward has now been closed', said the statement. Alluding to promising development opportunities existing in Algeria, Emaar said that it is open to investments in the country in line with its long term strategy of developing its projects in international markets.
'Emaar created designs for key developments in the country and the master plans were submitted to the authorities for necessary approval', said the statement. The company chose its presence in Algeria as part of its strategy to expand its regional domain in Middle East and North Africa.
'Due to a lack of progress which is beyond the company's control, the office set up to drive these projects forward has now been closed', said the statement. Alluding to promising development opportunities existing in Algeria, Emaar said that it is open to investments in the country in line with its long term strategy of developing its projects in international markets.
