Maltese firm to resume massive Tripoli project

Malta-based Mediterranean Investments Holding has restarted its preparatory work on the €300m Medina Tower in Tripoli. The work was brought to an abrupt halt by the uprising in Libya, but the company has now reconvened the project team to get the project going again. "The directors are of the opinion that the opportunity for the Medina Tower project has increased significantly post the conflict period and are currently evaluating ways of enhancing the feasibility of the project," the company said. Medina Tower has been conceived as a 40-storey mixed-use development. The brainchild of MIH - the company established by Corinthia Group in 2006 to pursue landmark real estate projects in Libya - Medina Tower will take four years to complete. With total gross space of 200,000 square metres on Tripoli's main boulevard adjacent to the imposing Corinthia Bab Africa hotel, Medina Tower is aimed at being a pioneering concept for Tripoli - besides being the first mixed-use development, it will feature Tripoli's first real shopping mall, and boast the city's first high rise apartments. The high-end development will incorporate 58,000 square metres of residential space for sale,...