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Tameer Unveils Plans for $20B Libyan Project

TRIPOLI-A consortium aims to develop a new city with residential and commercial towers, business centers and tourism facilities.

By Anita Howarth | Updated on August 09, 2006

TRIPOLI-Tameer Properties has unveiled plans to develop a dinars 26-billion ($20-billion) city near the Libyan capital. Roughly 40 km has been set aside for what will be the largest gulf investment in North Africa.

Tameer, which will be lead developer of the project, has formed a strategic partnership with Tatweer Property Co. and the Arab Fund for Economic and Social Development for the development. It also has the support of the Libyan government.

The project aims to develop a new city with residential and commercial towers, business centers, and tourism facilities. There will also be new schools, universities, hospitals, gardens, playgrounds, in addition to entertainment centers, clubs, gyms, amongst other amenities. These facilities will be used when the residential base is completed and is expected to house a population that exceeds half a million people.

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