Thursday, August 10, 2006

Real Estate: UAE's Tameer Holding unveils $20bn project in Libya

The UAE's premier real estate company Tameer Holding, has unveiled a $20bn commercial and residential project in Libya. The company claims it is the largest Gulf investment into North Africa.

The complete city development will be built in stages over 40 sqkm in the Eastern Valley bordering Tripoli. Tameer's partners are Tatweer Property, Tameer International and the Arab Fund for Economic and Social Development.

According to a company media release, the project is supported by the Libyan government.