Private Group Issues Bond to Finance Mega City Development Project in Algiers

Lead promoter and Dahli Group CEO Mohamed Rahim

The lesser-known Dali Group, specialized in the hotel and services industries in Algeria is the first private enterprise to issue a bond to raise money for its real estate development project.

This is the first time a private company seeks general investors within the Algerian market to finance its project. The company is looking to fetch DZD 8.3 billion to build what it calls the Algiers Medina, according to its Chief Executive Mohamed Abdelouahab Rahim. Continue here.