The law was issued in Issue No. 73 of the Official Gazette specifying the conditions and modalities for granting economic real estate belonging to the state’s private property for the implementation of investment projects.
The provisions of this law, No. 23-17, which was signed by the President of the Republic, Abdelmadjid Tebboune, on November 15, apply to economic real estate belonging to the state’s private property on developed lands belonging to industrial zones and activity areas, developed lands located within the vicinity of new cities, as well as lands Developed areas related to tourism expansion areas and tourist sites.
It also applies to prepared lands belonging to technological parks, remaining real estate assets belonging to local public institutions, surplus real estate assets belonging to public economic institutions, lands intended for real estate development of a commercial nature, in addition to other prepared lands belonging to the state’s private property.
Exceptions to the application of the Economic Real Estate Law
Its application to agricultural or agricultural-oriented lands belonging to the state’s private property excludes lands located within mining areas, areas located within areas for searching for and exploiting fuels, areas for protecting electrical and gas installations, as well as lands belonging to the state’s private property intended to accommodate areas for aquaculture activities.
This law also excludes lands located within the vicinity of archaeological sites and historical monuments, lands intended for real estate development benefiting from state subsidies, as well as lands belonging to the state’s private property intended for the implementation of public investment projects.
According to this new law, the National Agency for Investment Promotion, through its single window and with a mandate from the state, is tasked with consulting with the sectors concerned with directing the real estate abundance for the purpose of preparing it, managing and promoting the state’s economic real estate portfolio in order to grant a concession on it, and maintaining and updating the economic real estate registry capable of forming the real estate offer directed to investment and including The characteristics of each real estate property, with the obligation to place all information about real estate abundance at the disposal of investors through the investor’s digital platform.
The agency also undertakes the granting of economic real estate belonging to the state’s private properties to investors in the form of a concession by mutual consent that can be converted into a waiver. It also follows up and accompanies investors until the completion of their investment projects and contributes to the preparation of reconstruction tools for the purpose of expressing needs in the field of investment.
Anyone who wishes to benefit from economic real estate must register an application through the digital investor platform run by the Algerian Investment Promotion Agency, which “is considered the only way to deposit.”
The economic real estate is granted by the Algerian Agency for Investment Promotion, with the authorization of the state, through a single window for the benefit of investors in the form of a “concession by mutual consent that can be transferred to a waiver” according to a model book of burdens that is determined by regulation and includes general administrative items and special items that take into account strategic directions and their impact in the field of economic development. And social.
The concession, which is transferable into a concession, is granted for a period of 33 years, renewable, for investment projects, with the exception of lands intended for real estate development of a commercial nature, for which the conditions and methods for granting the concession are determined by legislation.
This law requires the investor to complete the project within the specified deadlines while not changing the direction or use of all or part of the property for purposes other than those recorded in the burden book except with a license from the agency, in addition to maintaining the economic purpose of the granted property after the completion of the project.
The agency can exercise, in the name of the state, the right of pre-emption over real estate properties relinquished by the beneficiary of the economic property, as well as over every other real estate property belonging to a natural or legal person subject to private law that is capable of embracing an investment project and located within the oceans and prepared areas, in accordance with this new law.
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