Abu Sleem Municipality claimed that Airport Road’s stalled multi-purpose Waha Investment Project will restart construction.
The project is owned by the Libya Local Investment and Development Fund (LLIDF – also referred to as the Libyan Fund for Internal Investment and Development), a subsidiary of the Libyan Investment Authority (LIA). It is implemented by the Libya Investment and Development Company (LIDCO). Current Libyan Prime Minister Abd Alhamid Aldabaiba used to head of LIDCO.
The project, adjacent to Airport Road’s Iron Bridge, consists of 321 housing units in the 16-floor high 11 housing blocks. The Municipality reported that the duration of the project’s implementation is18 months
Originally, the project also included two towers of 28 floors consisting of a commercial tower and a hospitality tower with a hotel of 203 rooms and 102 hotel apartments.
The reactivation of the project comes as part of the Aldabaiba’s Reviving Life policy to activate nationwide projects that have been stalled for years. The governments seeks to improve infrastructure, advancing development and the economy by providing job opportunities for young people under improved security conditions.
‘‘The deal, in which the thorny issue of compensation is addressed by granting additional contracts, is seen as opening the door to completing numerous other housing and infrastructure projects with Chinese and foreign companies.’’
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