Red Sea Housing Facing Investment Law Charges in Algeria, al-Watan Reports

Red Sea Housing Services, a Saudi Arabian company providing ready-made housing units for the oil industry, is facing charges in Algeria after the authorities there accused the company of violating investment laws, al-Watan reported.

The investment authorities said the Algerian unit of the Saudi company provided many services that are not included in the company’s investment license including financing and catering services, the newspaper added.

The first court hearing will be on April 28, al-Watan reported.

To contact the reporter on this story: Wael Mahdi in Jeddah wmahdi@bloomberg.net

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