October 21th, 2024
In accordance with the provisions of Law 23-17 of November 15th, 2023, which defines the conditions and modalities for granting economic land falling under the State private domain intended for investment projects, and particularly Article 17, which stipulates the possibility of converting a concession into cession, the Algerian Investment Promotion Agency informs project holders, interested by this procedure, that it has begun processing related requests.
As stated in Article 17, hereinabove mentioned, the concession can be converted into cession by the Algerian Investment Promotion Agency at the request of the concession holder, provided that the project is completed in accordance with the terms of the specifications, a conformity certificate is obtained, and the project is operational. These provisions also apply to concessions granted prior to the issuance of this law.
It is also important to note that the conversion of the concession to cession is based on the commercial value at the time the concession was granted, with the paid rental fees being deducted. The conversion of concession to cession process is formalized through a contract prepared by the relevant domains services, locally competent, at the request of the Algerian Investment Promotion Agency.
Interested parties wishing to benefit from this procedure are requested to submit their applications to the relevant decentralized one-stop shop of the Agency, along with the following supporting documents:
– The application form, which can be downloaded from the official website of the Algerian Investment Promotion Agency;
– The concession contract;
– The specifications related to the concession;
– The conformity certificate;
– The operational commencement certified report;
– An operating license for regulated activities and classified establishments;
– A release document from any mortgage on the real estate right resulting from the concession.
The Agency also informs project holders that concessions for lands falling under the State Private Domain directed for housing development projects benefiting from the State subsidies are not included in this procedure, as they are subject to specific legal provisions.