Corinthia yesterday got a step closer towards the €320 million development of Medina Tower, a 40-floor luxury block to be built in the heart of Tripoli’s golden mile.

The Maltese hotel franchise signed an agreement with Turkish contractor Koray for the sub and super structure works of the tower.

After three years of planning and negotiations, the tower is expected to be completed within 40 months and will be the largest single investment in Tripoli since the revolution.

“Libya has been through a challenging period last year and we had to deal with some very difficult and trying moments,” said Corinthia Group chairman Alfred Pisani at the signing ceremony of the contract, held at the Corinthia Hotel in Tripoli.

“We remained focused and determined to push ahead with our investment plans and we are pleased to report that the hard work and determination has now paid off as we are about to break ground on this landmark development in the heart of Tripoli,” he added.

Medina Tower will comprise luxury residential units, office space, a commercial centre housing top fashion brands, restaurants offering a wide international cuisine and a spa.

It will be built on an 11,000 square metre plot and cover 200,000 square metres of floor space, including four floors of underground parking.

Medina Tower is the third major project undertaken by the Corinthia Group or any of its associate and subsidiary companies, following the successful completion and ongoing operation of Corinthia Hotel Tripoli and Palm City Residences.

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