Emirates International Investment Company (EIIC) has recommenced work on the first phase of the USD 5.9 billion Dounya Park project in Algiers, the capital of Algeria, and expects to complete it within 18 months, an official at the Algeria National Investment Development Agency told Zawya.
The first phase includes the establishment of the green spaces, recreational areas, an international school, villas and residential buildings, the official said. The project has faced several obstacles in the past that resulted in halting construction.
The second phase will include the construction of two five-star hotels, a hospital, commercial facilities and business centers. All phases of Dounya Park are expected to be completed by 2017.
Dounya Park will be built on 1,059 hectares instead of the 630 hectares initially approved. The extension came last month via government decree. According to Zawya Projects Monitor, the project is located at the west of Algiers. It will include 12,260 apartments and 986 villas in addition to facilities such as a 200-bed hospital and a 500-room hotel. Dounya Park is expected to create about 25,000 jobs.
© Zawya 2012
