Feb 12 2008 |
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UAE firm to build $5b park in Algeria
12 February 2008
Dubai: Emirates International Investment Company (EIIC) yesterday said it will develop a Dh18.3 billion ($5 billion) urban park project, Dounya Parc, at Algiers's first Assises du Tourisme exhibition.
The development is being developed by EIIC 's subsidiary, Societe des Parcs d'Alger. The project will soon begin the initial construction phase and be completed in 2012.
"The 6.6 million square metre project will be a central metropolitan park, with 25 per cent dedicated to high quality commercial and residential development," a company statement said yesterday.
EIIC will also plant one million trees around the periphery of the park, as well as plant Mediterranean trees, olive groves and several themed gardens.
By Staff Reporter
© Gulf News 2008. All rights reserved.
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