Feb. 11 (Bloomberg) -- Emirates International Investment Co., the Abu Dhabi-based investor in industrial, financial and real-estate ventures, plans to spend $5 billion on building homes, shops and a park in Algiers, Algeria's capital city.

The Dounya Parc project will span 6.6 million square meters when completed in 2012, a quarter of the area comprised of commercial and residential space and the rest open parkland, closely held Emirates International said in a statement posted on Dubai-based business Web site Ame Info today.

To contact the reporter on this story: Will McSheehy in Dubai at wmcsheehy@bloomberg.net

Last Updated: February 11, 2008 08:38 EST