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Algeria Overview 
Within its inspection over the emerging markets of the MENA region, RED House detected in 2007 that the Algerian real estate’s development and investment sector denotes considerable potentials.
In fact, RED House perceived that Algeria anticipates significant returns in the residential, hospitality and tourism sectors supported by the growth in economy led by rising oil prices. 
On the other hand, RED House highlighted the shortage of housing units in the Algerian residential segment (estimated for 1,000,000 units) and that the actual demand for housing is estimated to range between 250,000 and 300,000 units a year, going forward while supply, however, is anticipated at approximately 130,000 housing units a year.
Algerian Residential Segment – the facts
Algeria has been facing a severe housing crisis with demand outstripping supply by more than a million units in 2006. The government is trying to address this shortage in housing units which is primarily caused by the state ownership of land. Also, the role of the private sector has been negligible in the country's residential development, leading to an acute shortage in housing. Recently, the government is undertaking liberalization and privatization initiatives, which could pave the way for the entry of foreign construction companies. Algeria’s population is growing at around 2% annually and labor force at 5%, making it more attractive for real estate investors to enter the residential market. 
Algeria’s ministry of housing estimates actual demand for housing to range from 250,000 to 300,000 units per year, going forward. Consequently, total additional demand for new housing is expected to be around 2 million units by 2013. 
On the supply side, approximately 130,000 housing units are expected to be built every year, of these, 30,000 to 40,000 will be privately constructed, while, under the National Housing Program, the government will construct 1 million housing (low and middle income housing) units by 2009. However, the government may not be able to achieve its goal, given the construction industry's lack of resources. Consequently, industry sources estimate that shortage in housing units will amount to 3 Million units over the next 15 years.
RED House Algeria
Based on the above assessment, RED House Algeria was established in 2007 as RED House arm for the group operation in Algeria with the determination to notably contribute with the Algerian Real Estate’s Development Sector. RED House Algeria mission was to develop specific and exclusive residential projects with contemporary perception and taking into consideration the opportunistic environment and the remarkable investment potentials. 
Residence Des Pins
In June 2007, RED House succeeded to set up the development of an exclusive project in a prime location in the Algerian Capital (Cheraga): “La Residence Des Pins”.
RED House Algeria created the project concept, inspected and selected the proper location and land, set up the project business plan including the investment and financing plans, configured the financial structure and secured the required equity. La Residence Des Pins” was set as the first high standing residential project in Algiers erected on a plot of over 23,000m2 areas and including over 80,000m2 constructions. 

The project consists of 12 buildings of which 10 high standing residential buildings including 420 apartments in simplexes and duplexes of F2 to F7 entirely independent of another two office buildings. The project ground floor is reserved for “Deluxe Boutiques” shops, a health club with covered swimming pool, a nursery, a restaurant and a terrace coffee shop.
The project total sales volume exceeds 200,000,000 Euros. 
La Residence des Pins is presently managed by HEG and completed. 
As an investment opportunity, La Residence Des Pins was a success story of RED House Algeria and RED House Group with revenue of invested equity exceeding 300% and an IIR exceeding 55%.
RED House Algeria Featured Projects 
With the remarkable success of project “Residence Des Pins in Algiers” and the prominent setting up of RED House in the Algerian market, RED House Group is determined to pursue its operation in Algeria; RED House Algeria anticipates the development of other selective projects especially in the residential, and retail.
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