PARIS- The banking sector will participate strongly in the first Algerian Real Estate and Investment Exhibition, to be held from 25 to 28 October at the Palais des Congres of Montreuil (east of Paris) according to organizers.
‘All Algerian national banks expressed the wish to participate in the exhibition (…). We started to receive in-principle participation agreements from private banks operating in Algeria, including BNP-Paribas,’ Mohamed Rahmani, the event’s chief promoter, told a joint press conference Wednesday evening in Paris.
According to exhibition manager Khaled Zeghdane, this demonstrates the degree of interest that public authorities attach to the event which is aimed mainly at making accessible information on the Algerian real estate market and highlighting the different mechanisms to acquire properties by bringing closer the members of the banking community.
Besides banks, the organizers announced the participation of agencies in charge of investment in Algeria (ANDI, ANIREF, ANAT…), the Forum of Algerian Business Managers, the National Chamber of Notaries, companies seeking to invest in Algeria, joint and national real development companies as well as other bodies coming under the sector of housing and building.
The purpose is, according to Mr. Zeghdane, to create a business dynamic to help the substantial Algerian community in France find ample opportunities in its country of origin and to generate growth based on capital flow to Algeria.
A business seminar will be held on the side-lines of the exhibition, which is expected to bring together over 80 exhibitors. It will comprise nine topics falling into two main panels. The first is the sociocultural panel, focused on the contribution of immigration yesterday, today, and tomorrow, and the myth of returning to the need to “put a foot on the ground”. The second panel will take the form of business forum which is to examine the outlooks of real estate development in Algeria and the legislative and fiscal environment.
Among participants, there will be experts who will take part in the workshops and the advisory boards and renowned speakers from both professional and academic milieus from Algeria, France, and Europe.
The First Algerian Real Estate & Investment Exhibition has been initiated by Transmed Invest & Consult, a Paris based consultancy, bringing together experts in finance and economics, which puts itself forward as an instrument to build closer and optimized relations between international and Algerian stakeholders and economic players.
Algeria Organizes Its First Real Estate & Investment Exhibition in Paris
Algeria’s first real estate and investment exhibition will be held between 25 and 28 October 2013 at the Palais des Congrès in Montreuil (Eastern Paris).
Initiated by Transmed Invest & Consult, a Paris based consultancy, the Algérie Immo-Invest exhibition is aimed at bringing together the Algerian diaspora in France and Europe with different players and stakeholders in the field of real estate and investment in general.
According to Khaled Zeghdane, Development Officer at Transmed, the main purpose of the event is to build awareness among the members of the Algerian community home and abroad on the regulatory aspects of property development in Algeria and assist them in implementing their projects in the country.
‘This is mainly about the need to provide information on the Algerian real estate market and to build a relationship between the Algerian community and economic agents in order to attract and channel the savings of Algerian households abroad towards investing in real estate in Algeria’, he told the APS, adding that the role of his consultancy is not to act as a substitute for the public authorities, but to ‘bring together’ the products of the population concerned.
A dozen developers, mostly private, representatives of public and private banks (CPA, Baraka Bank, AGB, Salem Bank), and local investment agencies (ANDI, ANIREF, ANAT) are expected to attend the exhibition which is targeted at Algerian residents abroad, but also at potential Algerian or French investors.
To the purpose, the organizers are planning an investment forum to be held in Algeria as an extension of the Algérie Immo-Invest.
‘The idea is to supply the Algerians and Europeans willing to invest in the country with useful information on the prevailing business environment, in conformity with the objectives set by the public authorities’, Zeghdane noted. He announced the coming opening of a Transmed office in Algiers to facilitate doing business with Europe and establish the ‘connections’ necessary to the purpose.
Some 5.685 Million Algerians live in Europe; of these, 5 Million reside in France, according to the International Association of the Algerian Diaspora. This population is composed of 800,000 households with annual saving potential of 10,000 Euros per household, according to the same source.
A report published by the World Bank in 2009 estimated the savings of the Algerian community abroad at USD 4.2 bn or 3% of the country’s GDP.
SOURCES: Lemag.ma, a Moroccan electronic daily paper
International Association of Algerian Diaspora
Khaled Zeghdan, Transmed Invest & Consult
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