You are here

HomeNewsTameer Holding announce Libya project that exceeds $20billion...

Tameer Holding announce Libya project that exceeds $20billion

Tameer Holding announces a new project in Libya that comes at a total investment of over $20 million. The announcement follows a series of successful projects launched by Tameer in its home base –the UAE and neighboring Middle Eastern countries. The new project represents the largest Gulf investments in North Africa and the largest Arab investment in Libya.

This massive project comes in the context of the progressive development that Libya is witnessing and is consistent with the vision the Libya Government has for itspeople.

Embodied in this new Libyan development company is the real estate   development company, Tatweer, which is a strategic partnership between Tameer¤s International arm and the Libyan fund for international and social development. Tameer is the master developer of this ambitious project that has been formed through a strategic partnership represented by Tatweer Property Co – Tatweer and Tameer International. The creation of Tatweer Libya has received unlimited support from the Libyan government.

The articles of association for the new company were signed under the auspices of the Secretary of the General People¤s Committee, Dr Baghdadi Al Mahmoudi with Mr. Omar Ayesh from Tameer and Mr. Hamid Elhouderi general manager of the Fund for Economic and Social Development.

Speaking of this announcement, Mr. Omar Ayesh, President of Tameer Holding, said “This project will be the gateway that combines both the modern designs and the unique heritage and history of Libya. This ambitious development will be the gateway that combines the modern urban design and the unique attributes of the great jumamiah and its deep historical and authentic tradition. The project will be the impetuous for the new phase of the development of tour project, which is representative of the booming property, tourism, and trade sector in Libya."

He added: “Tameer is always on the lookout to penetrate new markets to invest in as we always enter new markets other companies have failed to enter into yet, by striving to reach new heights. Our investment today comes within this context, and we believe in the significance of this step as it will open the door for even bigger projects across the whole region."

The project is located on the Eastern Valley that borders the Libyan Capital, Tripoli, on an area that exceeds 40 square kilometers, and is distinguished by its beach which is recognized as one of most beautiful beaches on the coast of the Mediterranean. The project is city sized and includes residential and commercial towers, business centers, and tourism facilities that comprise of various services such as schools, universities, hospitals, gardens, playgrounds, in addition to entertainment centers, clubs, gyms, amongst other amenities. These facilities will be used when the residential base is completed and is expected to house a population that exceeds half a million people.

The project will have a unique and developed infrastructure that suits the size of the development and includes the construction of smart homes, which with feature advance technology that will put it on a par with the world¤s leading international cities.

The importance of this development is that it is a complete city that serves all economic sectors, where it provides investment opportunities for the Libyan people in the fields of property investment, business development, construction and infrastructure. The project is expected to provide ample job opportunities in different specializations and for individuals of all abilities and experiences and levels. All of this is under an investment plan that combines the modern on one side and the heritage from the other. The benefit of the project is expected to include all the people in Libya through in both economic and social terms.