Nobles Properties, a real estate firm of the United Arab Emirates (UAE), plans to develop a project of iconic towers worth 500 million U.S. dollars in Libyan capital of Tripoli, local newspaper Gulf News reported on Thursday.
The project named "Tripolis Towers" in the heart of Tripoli will be developed in line with an agreement between Nobles Properties and OYA Tourism Investment and Development, a subsidiary of Libya' s Economic and Social Development Fund, according to the report.
The "Tripolis Towers" will comprise two 40-storey residential towers on 275,000 square feet of waterfront land in Tripoli. The total built-up area will be 3.5 million square feet.
One tower will include a five-star hotel with business facilities, serviced apartments and retail space. The second tower will contain office space.
The agreement with OYA Tourism Investment and Development to develop the "Tripolis Towers" was a "significant" agreement in Libya as part of Nobles Properties's plans to expand in the Arab world, the company' chairman Omar Ayesh said.
"We see great potential in the Libyan market and its outstanding level of economic competitiveness, which stems from a unique combination of attractions that cannot be found elsewhere," he added.
Source:Xinhua
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