One of the most valuable natural resources of North African countries like Algeria and Morocco is the scenic, natural real estate that is available to investors.
“If you have traveled to Algeria, you may have noticed that there are quite a few properties for sale in that country,” reads a landing page at the Algeria.com real estate web site. “And, in a country where the currency is weak and properties are subsequently affordable, the idea of purchasing real estate in Algeria may be quite appealing.”
However, the site does list some potential down sides related to Algerian real estate: for example, hot summers and political strife. To some, there’s the idea that real estate in Algeria and surrounding areas is inherently risky, just because of the political context.
New technologies could help, according to some experts.
In the Maghreb, as well as in other emerging markets, there’s a push to outfit real estate systems with new ways of handling property transactions. Some of these promise stability and a more consistent approach to real estate in nations where tradition is still the dominant model.
“With blockchain, Algeria and Morocco could attract an incredible flow of foreign investments,” Nick Evdokimov told Maghreb New Wire on Aug. 28, describing situations where the turbulence of local real estate could be partly offset by greater transparency and better financial models. Evdokimov is a co-founder of ICOBox, the world’s first SaaS ICO solution provider.
“Both of these North African countries have a highly valuable, non-renewable resource: their lands,” Evdokimov said. “ICOBox’s experts believe that it is absolutely feasible to turn these lands into tokens offered for sale via an ICO, a market which is expanding at lightning speed.”
The proposed token sale, Evdokimov said, will generate significant money to support the economies of the two countries.
“Blockchain can also be used to create fully transparent economic, legal and political systems, which will likewise facilitate an increased flow of foreign funding,” Evdokimov said. “Establishing a system of reputable, transparent, and blockchain-friendly banks may in the long run create the world’s Top 10 economy.”
