Algeria: Qatari insurer to complete property project this year

Source: Middle East Insurance Review | May 2018

Qatar General Insurance and Reinsurance Company (QGIRCO) is developing a huge real-estate project in Algeria, expected to be completed by the end of this year, said media reports.

“We are concentrating more in the North African market, particularly in Algeria, where we have one of the biggest real-estate projects in the capital city of Algiers,” said QGIRCO Group’s chairman and managing director Sheikh Nasser bin Ali Al Thani. The development is a mixed used project consisting of 11 buildings, including a hotel (Marriott), office buildings and shopping centres.

Sheikh Nasser said, “We are expecting the project to be the biggest revenue and profit generator for the group for the coming years.” The plot of land for the development was purchased way back in 1996.

He said that QGIRCO is a well-diversified company with business interests in a wide range of industries, including banking, insurance, reinsurance, real estate and hospitality sector among others. M

Comment | Print

Name*

Email*

Comment*

Code Verification*

Enter the code shown above in the box below.

Note that your comment may be edited or removed in the future, and that your comment may appear alongside the original article on websites other than this one.