JLL MENA real estate services in Algeria
As with other MENA economies, Algeria’s economic reforms are being implemented to diversify the economy away from oil & gas revenues and create a broader economic base from which to achieve growth. These diversification plans extend to sectors such as telecom, real estate, construction and tourism etc. The country has sought to increase its transparency in doing business and improve security. This, coupled with its strategic location (as a supply base for the European and African markets) has created increased interest from a number of multinational companies over the past 5 years.
Most real estate sectors of the market are currently facing a shortage of international quality supply. Continued population and economic growth on the back of reform and privatisation initiatives is likely to fuel additional demand for quality products across all asset classes. However, particular opportunities appear to exist in the residential, hotel and commercial office sectors of the market.