
The Algerian state is reportedly offering the El Palace hotel in Barcelona for sale, with a transaction amount exceeding 100 million euros. The Spanish media outlet El Confidencial reported on April 16 that the property, recovered by Algerian authorities in 2025, is now on the market. Inaugurated in 1919, the five-star "grand luxury" hotel is located near Passeig de Gràcia and spans over 12,500 m², featuring two basement levels, nine upper floors, 125 rooms including high-end suites, six large event lounges, and a 1,500 m² panoramic rooftop terrace. The hotel attracts an international clientele, with room rates ranging from several hundred to several thousand euros per night for suites. It also boasts a strong cultural and gastronomic identity, with catering by Spanish chef Rafa Zafra and suites honoring artists like Salvador Dalí and Carlos Ruiz Zafón. The hotel was initially acquired in 2011 for approximately 80 million euros by Algerian businessman Ali Haddad, former head of the ETRHB group. Following his conviction in Algeria for corruption, his assets were targeted for recovery. The transfer of ownership to the Algerian state occurred in 2025 through a dation in payment mechanism, allowing authorities to recover the asset without a forced sale. Algerian authorities are now considering selling the hotel to investors, including specialized funds and asset management firms, as part of a broader strategy to monetize recovered assets, generate public funds, and finalize corru
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This summary was AI-generated from a story originally published by Algérie360.