Maltese-Kuwaiti firm plans 40-storey tower in Tripoli

Mediterranean Investments Holding plc has signed a shareholders' agreement with the Economic Development Real Estate Company of Libya for the development of Medina Tower, a 40-storey residential and commercial high-rise tower on Tripoli's main boulevard.

The tower will incorporate 332 apartments for sale, 26,000 square metres of office space for rent, 22,000 square metres of commercial, conference and food and beverage facilities, and 24,000 square metres of underground parking accommodating 850 vehicles.

Planning applications have been filed and the completion date for the project has been set for December 2012.

Established in 2006, MIH, a joint venture between the Corinthia Palace Hotel Company Ltd and the Kuwait National Real Estate Company, has been engaged in the ownership and development of the Palm City Residences in Janzour, Libya, a luxury residential village comprising 413 villas and apartments.