An open letter to the President of the Republic – La Nouvelle République Algeria

An open letter to the President of the Republic

Mr President,
We, the undersigned, acting as co-owners in the Brise Maritime residence located at 06 rue Tenania Abdelhalim Ain Benian in Algiers, have acquired apartments through a real estate development called SARL Tao Construction . This company, which consists of five (5) partners including one (1) Algerian and four (4) of Spanish nationality who all run in Spain and France where, with hundreds of millions of dinars received from the public. banking institution transferred and moved to Europe, they operate several businesses they created there (see internet searches). Credits that are not paid back because the beneficiaries are still running abroad.
We are twenty-six (26) Algerian families who have put all our savings from a lifetime of honest work to provide a roof for our families. Among us are (8) eight families of migrant workers who have invested all their savings to get housing for their family to return to their country and end their lives there with dignity.
Our apartments were seized by the managers of this public banking institution, to avoid their responsibilities in the fraud of Sarl Tao Construction’s allies. However, these apartments were acquired and fully paid for by the twenty-six (26) families completely legally by notarial act. We have been living in the property for over six (6) years after obtaining notarial documents confirming our full ownership rights to our accommodation.

Mr President,
Until the end of 2018, we were in complete ignorance of the credit agreements concluded between this public banking institution and the partners of Sarl Tao Construction as part of the acquisition of two plots of land in Aïn Benian ( Algiers) for the construction of twenty-one. six (26) housing units against mortgage subscription. In addition, the information about this mortgage does not appear in the deeds of sale of the land base. In addition, the source of financing the construction of the same foundation with a bank loan does not appear on these sales documents either.
We ask in this situation how these sales activities could have been the subject of a mortgage for the benefit of this bank without recording a reference to the origin of the finance with bank credit in the those same actions, if not to deceive our confidence by doing us. believe that there is no mortgage charge on that land at the time we were about to engage in the process of buying our homes.
In addition, reading the mortgage contract allowed us to realize that it does not comply with the original credit agreement. The latter shows that the first loan is intended for “land construction”, while the mortgage contract states that the first loan is for “house construction”. What our lawyers describe as “deception in the notary’s documents”.
All the evidence in the file we put together clearly shows the operation of public funds (and the illegal movement abroad?) as a result of the fraud of which we are victims.
Mr. President: according to our status as victims, according to the facts and crimes mentioned, we have created a bond with the aim of working in solidarity to protect our rights . That is why we ask you, Mr. President, to:
• Cancellation of the order for seizure and sale at auction of the apartments in which our families live and which we have already paid for and of which we are the legal owners;
• Major audit conducted by competent and independent authorities.
We rely on your high protection, Mr. President, because you are our last resort against a huge real estate scam that, if not stopped, will throw our families on the street with the loss of their savings to all of them as a result of institutional work. their whole life. We have a detailed file on this dramatic situation for your Excellency to give us so that Your Excellency can order a thorough investigation into this dark affair.
You, President, accept our highest opinion and our respectful greetings.
Sea Brise Residential Association
6 rue Abdelhalim Tenania
0541618826