Cheikh Saoud Ben Saqr Al Qassim arrived Monday May 7th 2007 in Algiers on a two-day working visit to Algeria .

The United Arab Emirates will invest over 33 billion dollars in Algeria in the next 5 years. The Emirati real estate group “EMAAR” has already secured the green light from the Algerian authorities to invest 28 billion dollars in the country.

In July 2006, the “EMAAR” chairman, Mohamed Ben Ali Al Abbar, presented Algerian President Bouteflika with the scale models of several urban restructuring projects for Algiers , whose central part has practically witnessed no alteration since the country’s independence in 1962.

Furthermore, 2 major Emirati enterprises namely “Mubadala Development Company” and Dubai Aluminium (DUBAL) are intent on investing a financial package estimated at 5 billion dollars for the creation of an aluminium production plant in Algeria.