Tag Archives | Corinthia Group

Corinthia Hotel to Stay Open

The Corinthia five-star hotel in Tripoli is still open, “with minimal maintenance work being carried out by our skeleton staff, but we are not operating because there is no business at the moment.” Alfred Pisani (pictured), founder of the Corinthia Group, told The Malta Independent that infrastructural damage from the attacks in January, in which […]

Tax Break for Malta’s Libyan CEOs

Malta Today reports that the bosses of Libyan companies operating in Malta will not be paying any income tax in 2013. According to the report, the then Maltese Finance Minister, Tonio Fenech, decreed in February 2013 that various Libyan directors and managers employed in Maltese-owned companies are to be exempted from income tax. The exemption […]

MIH Considers Fundraising for Libya Projects

Bloomberg reports that Malta-based developer Mediterranean Investments Holding is considering a 100 million-euro ($132 million) share sale in London to fund home-building in Libya. The company, set up in 2006 as a joint venture between the Corinthia Group of Malta and the National Real Estate Company of Kuwait, has purchased land in the northwestern town of […]

Misrata gets One-Stop Shop for Foreign Investors

Misrata has become the second city, after Tripoli, to set up a ‘one-stop shop’ to fast track overseas investments. According to a report from Libya Herald, the move is part of Libya’s drive to attract foreign investors, with the shops having local powers to sort out new projects and speed their way through cumbersome bureaucracy. […]

Benghazi Grand Hotel Project to be Abandoned?

The €130-million redevelopment of Benghazi’s abandoned Qasr al-Jazeera Hotel — formerly the Grand Hotel and Berenice Hotel — will be abandoned if the owners are not given permission to demolish the building and replace it with a modern structure, reports Libya Herald. Joseph Farrugia, of the Malta-based Corinthia Hotel Group, has told Libya Herald: “We are […]

Corinthia Signs First Contract for €320m Medina Tower

Turkish contractor Koray has been awarded the contract for the sub and superstructure works for Tripoli’s Medina Tower project. Medina Tower is a 40-storey building which will comprise luxury residential units, class A office space, a commercial centre housing some of the top fashion brands, restaurants offering a wide international cuisine and a luxury spa […]

Maltese firm to resume massive Tripoli project

Malta-based Mediterranean Investments Holding has restarted its preparatory work on the €300m Medina Tower in Tripoli. The work was brought to an abrupt halt by the uprising in Libya, but the company has now reconvened the project team to get the project going again. “The directors are of the opinion that the opportunity for the […]