The Qatari Diar Real Estate Investment Company is joining forces with the Libyan government to establish the Libyan-Qatari Real Estate and Tourism Company. According to Gulf media sources, this joint agreement will serve both Libya and Qatar.
This new company will begin with a total starting capital of $8.34 million and is to be based in Tripoli, Libya. The company's primary duties will be to focus on services that will increase tourism appeal in Libya. The Libyan-Qatari Real Estate and Tourism Company will first build and operate utility services. A focus on tourism, industrial and infrastructure will benefit Libya as it serves to stabilize the economy. Efforts will also be made to improve the quality of life in the urban areas of Libya.
Many of these areas still do not have necessary services like water desalination and sewage treatment. While any future developers would certainly attempt to make units that are energy efficient, many areas in Libya would benefit from better energy and power generation.
This recent alliance shows the Qatari Diar company's commitment to increasing real estate investment opportunities in the Middle East. Some of the projects include developments in Sudan, Syria and Yemen.
