After a series of pilot projects in the United Arab Emirates and beyond, and in accordance with plans to enter the markets of North Africa, Tameer announced its new project in Libya, the cost of which will exceed 26 billion Libyan dinars (US $ 20 billion). This project will be the largest investment project of the Gulf countries in the North African region as a whole, and the largest Arab investment in Libya, in particular.
This ambitious project will become part of the country's wide-ranging development program, which the Libyan Government is pursuing for its citizens. The success of this program is visible now. In the announced ambitious project, which was planned jointly by the strategic partners of Tameer Property Co - Tatweer, Tameer International and the Arab Fund for Economic and Social Development with the support of the Libyan government, Tameer acts as the main developer.
The cooperation agreement was signed by Omar Aish, president of Tameer, and Hamid Elhudeyri, general manager of the Arab Fund for Economic and Social Development, with the assistance of Dr. Baghdadi Al Mahmoudi, Secretary of the People’s Committee.
Speaking at the presentation, Omar Aish, President of Tameer Holding, in particular, said: “This project will be a way in which modern design and the unique ethnographic heritage of Libyan culture converge, presented in its history, traditions, origins and roots. The project will become the hallmark of rapidly growing sectors Libyan economy: tourism, real estate and trade.
Tameer Construction and Investment Holding has always sought to open up new markets in order to place investments, and we always develop markets that other companies could not enter. We hope that our investment policy will help us open the door to even larger projects in the region. "
The project in question will be located in the Eastern Valley, bordering the Libyan capital - the city of Tripoli, on an area of more than 40 square kilometers along the most picturesque beach line on the Mediterranean coast. The project is a traditional urban development concept for Tameer with residential and commercial towers, business centers, tourist facilities, as well as schools, clinics, universities, shops, sports and recreation centers, parks, gardens and playgrounds. All this will be available to residents of the "town", whose population, as expected, will be about half a million people.
The project will have a modern and well-developed infrastructure, including the construction of "smart" houses, which will allow it to take its rightful place among similar "towns" already existing in other countries of the world.
The most important point is that this project will give an impetus to the development of various sectors of the Libyan economy: from providing investment opportunities to the residents of Libya to improving the construction sector, road construction, urban infrastructure. In addition, the project will create a huge number of jobs for people of different specialties, with different levels of education and work experience. All this, in the framework of a new investment project, which will combine modernity and historical heritage of the country, meets the needs and aspirations of the Libyan people.
It is assumed that the advantage of this project will be the involvement of Libyan citizens in the economic and social life of the country. What will contribute a lot to the participation of the Arab Fund for Economic and Social Development.
