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FINANCIAL NEWS
Abu Dhabi’s Al Maabar takes on USD200m construction project in Libya
21 Apr 2013
(MENAFN) Al Maabar Managing Director, Yousuf Al Nowais announced that a green light has been given to get started with Al Waha project in Tripoli, reported Gulf News.
The Abu Dhabi-based developer has made a 50-50 joint venture agreement with Libyan Investment and Development Company to start the USD200 million project.
Al Waha will occupy 40,000 square meters of land, which include many facilities such as a 20 floor hotel, 196 living spaces, commercial offices and many recreation activities and services covering a total area of 145,000 square meters.
Many experts expect Libya to experience a massive growth in foreign investments due to post-war reconstruction.
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