(Ecofin Agency) - On Feb 8, on the sidelines of the International fair on real estate and urban development held in Algiers, the head of the national organization of real estate developers (ONPI), Maâmar Boumdal mentioned heavy land procedures which are detrimental to real estate investors.

The official shared concerns over the “various constraints that real estate developers face, such as difficulty to obtain some approvals like building and subdivision permits, those for leveling as well as other technical dossiers. Moreover, delays are much long and exceed those of banks and meetings with clients,” says El Watan.

Boumdal also asked for conditions of access to land permits to be revised. “The only way to get land is by obtaining a land concession, however banks do not lend for land purchase anymore. What the ONPI is now asking is for authorities to, even if they will not lend them money to buy lands, at least insure that developers get proper lands for the projects,” he said.

As El Watan reports, Algeria has about 6,000 developers, of which 1,600 registered at ONPI.

Souha Touré