Tag Archives | Housing

Egypt’s El-Abd Halts Work on Libyan Projects

El-Abd, an Egyptian ontracting company, has stopped work on housing projects in Libya, valued at $102 million. Said Fattouh, Vice-Chairman of the Board of Directors and Managing Director of Technical Affairs at El-Abd, told Amwal Al Ghad that the reason was the ongoing security tensions in the country. The company has carried out many housing projects […]

Indian Company to Restart Housing Project

India’s Simplex Projects has said it received approval for the resumption of its stalled project in Libya. The project reportedly involves the construction of 2000 housing units, service buildings and related infrastructure at Ghira, Shabiyat of Ashati. It was stalled since the outbreak of political unrest in February 2011, and is to be completed within […]

30,000 New Houses in 2013

The Minister of Housing and Utilities, Ali Sherief, has said that 30,000 housing units with 131 contracts for infrastructure had been activated last year, some of which are completion projects and some newly activated. Through a central committee his department had reviewed over 40,000 housing units totaling in value LD 1.88 billion ($1.5 billion), adding […]

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4,500 New Houses for Shahat

A deal has been signed with the eastern Libyan city of Shahat to build 4,500 new residential housing units. According to a report from Magharebia, the city is home to many slums and has been neglected in terms of new building, and the project was announced following protests by local residents. A residential project planned […]

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AECOM Wins $209m Housing Contract

AECOM has announced that it has signed an agreement with the Libyan government’s Housing and Infrastructure Board (HIB) authorizing work valued at $209 million over a 25-month period. This agreement establishes AECOM as the lead program manager for the Libyan HIB for all urban areas throughout the country. According to the contract, AECOM will serve […]

Jumhouria Bank on Mortgages and SME Loans

By Osama Humaydan. In the recent speech, Mr. Akkari, chairman of Jumhouria Bank, the largest bank in Libya, noted that the upcoming period will witness major developments by the Central Bank of Libya. These developments are related to new products and services, and, most importantly, to housing loans, which will be given out to those […]

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 […]

Libya to Invest $140bn in Next Decade

Libya Herald reports that Libya is expected to invest $140 billion in projects over the next ten years. Among the areas earmarked for development are: A programme by the General Electric Company of Libya (GECOL) to increase capacity from  about 13,000 MW in 2012 to 19,000-20,000 MW by 2020; A $2.5-billion upgrade of the state’s […]