View Full Version : LIBYA | Tripoli | Medina Tower | Residential | 40 fl | Under Construction
February 8th, 2010, 10:18 AM
Name: Medina Tower
February 8th, 2010, 10:19 AM
Medina Tower high rise development in Tripoli
Mediterranean Investments Holding plc (MIH), a joint venture between the Corinthia Palace Hotel Company Limited and the Kuwait National Real Estate Company has signed a shareholders agreement with the Economic Development Real Estate Company (EDREICO) of Libya for the development of a 40 storey high rise tower on the seafront of Tripoli’s centre in Libya.
Established in 2006, MIH has to-date been actively engaged in the ownership and development of the Palm City Residences in Janzour, Libya, – a luxury, self-contained, residential village comprising 413 different sized villas and apartments on the waterfront in Janzour – Libya. With a couple of months left to completion, Palm City has already received its first tenants and leasing of units has significantly increased over the last few months as Palm City has received tremendous interest from foreign companies and individuals who are seeking to secure their preferred units.
As part of its real estate investment strategy, MIH has over the last 12 months sourced and evaluated a number of investment opportunities. Following the signing of an MOU on the 21 July 2008, MIH and EDREICO have confirmed the investment strategy to jointly develop an exclusive high-rise iconic building in the heart of Tripoli’s financial and business district. Medina Tower, the name given to this high-end development, will be constructed over 12,500sqm of land neighbouring other high-rise developments and facing the open Mediterranean Sea. The project will comprise 180,000sqm of construction spread over 40 floors above ground level and four levels of underground parking.
The final plans for the project have been submitted to the planning authority for approval. Excavation works are scheduled to commence on site shortly once planning permission is received.
Completion date for the project has been set for December 2012.
Medina Tower is the second landmark real estate development undertaken by MIH since its inception in 2006. Backed by several years of experience of its shareholders Corinthia and National Real Estate, MIH has already succeeded in pioneering projects in Libya that have set a very high standard in this fast developing economy. MIH’s association with EDREICO, a subsidiary of the Libyan Sovereign Investment Fund, will ensure that the project is executed on a fast track basis to cater for the soaring demand for high quality office and residential accommodation.
Medina Tower will feature 332 apartments for sale, 26,000sqm of office space for rent, 22,000sqm of commercial, conference and Food and Beverage facilities, and 24,000m2 of underground parking that will cater for up to 850 car parking spaces. The concept of a mix of retail, commercial, and residential facilities is the first of its kind in Libya.
February 8th, 2010, 01:37 PM
woooooow i think libya must has its own forum
February 11th, 2010, 10:46 AM
excellent news, keep it coming son:cheers:
February 11th, 2010, 05:50 PM
good stuff i havnt heard much of libya .
February 13th, 2010, 01:00 AM
Well I am disappointed from Libya, I keep hearing alot of great project from them. but I hardly see them completed.
nice tower thou.
April 3rd, 2010, 11:15 AM
Includes a Video.
August 3rd, 2010, 08:37 PM
Mediterranean Investments Holding (MIH) will partner with International Hotel Investments (IHI) and the Libyan Economic Development Real Estate Company, to build the mixed-use Medina Tower in Tripoli.
Excavation and construction of the 40-storey tower will kick off in the next few weeks. The project will offer 242 luxury apartments, 23,000m2 of office space, 20,000m2 of retail space, a conference and exhibition centre and four floors of underground parking. It is expected to be completed within four years.
Mediterranean Investments Holding (MIH) is a joint venture between the Kuwaiti National Real Estate Company and the Corinthia Group, a Maltese company with a long-standing relationship with Libya. “Corinthia has been operating in Libya for over 25 years, initially in the catering business, where it provided meals for thousands of workers on rigs and oil fields, as well as
airline catering,” explained Reuben Xuereb, managing director, MIH.
August 3rd, 2010, 08:38 PM
LIBYA | Tripoli | Medina Tower | Residential | 40 fl | under construction
August 3rd, 2010, 09:05 PM
^^ you might need to msg egypt69 if he didn't see this.
November 6th, 2010, 09:22 AM
is it under construction Now?
November 16th, 2010, 09:13 AM
no idea hope it is
April 25th, 2012, 11:50 AM
April 28th, 2012, 12:57 AM
Nothing except a little affair called the Libyan Civil War and the passing of a minor figure named Moammar Khadhaffy.
October 20th, 2012, 09:18 PM