The Libyan Arab Foreign Investment Company (LAFICO) plans to invest between $80 and $100 million to build a new 5-star resort in Tunis.
According to a report from DirectInfo, the development would be on the site currently occupied by the Hotel du Lac, which is expected to be demolished in early 2014.
With one or two towers of 30 floors, it would be the tallest building in Tunisia, and would include a 5-star luxury hotel, in addition to office space and shopping centres.
The scheme, designed by Italian architects, should be completed within 24 months.
LAFICO currently has 9 companies in Tunisia.