No Result
View All Result
Wednesday, June 18, 2025
23 °c
Tripoli
24 ° Sat
24 ° Sun
  • Advertising
  • Contact
LibyaHerald
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
SUBSCRIBE
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
No Result
View All Result
LibyaHerald
No Result
View All Result
Home Business

Several solutions discussed to activate Libya’s real estate sector at final day of Tunis conference

bySami Zaptia
February 6, 2020
Reading Time: 2 mins read
A A
Several solutions discussed to activate Libya’s real estate sector at final day of Tunis conference

The Second Libyan Real Estate Development Forum made a number of suggestions to activate the sector in Libya (Photo: Social media).

By Sami Zaptia.

The Second Libyan Real Estate Development Forum made a number of suggestions to activate the sector in Libya (Photo: Social media).

London, 6 February 2020:

Several possible solutions were proposed and discussed in Tunis today on the final day of the Second Libyan Real Estate Development Forum as participants broke up into closed discussion groups.

Some of the fundamental problems raised that face the sector include the unravelling of the nationalization / forced seizure of private real estate by the Qaddafi regime and the closure of the Real Estate Registry since 2011 due to Libya remaining stalled in a transitional political stage.

The result of the continued closure of the Real Estate Registry has resulted in the banks refusing to lend for real estate projects in fear of lack of security for their investments. Its closure also means that no real estate in Libya could be ‘‘officially’’ bought and sold since 2011. This has supressed sector growth when it comes to large scale projects.

RELATED POSTS

Maghreb Banking Forum‎, Tunis, 4 to 5 May – strengthening economic integration in the Maghreb

LBC participates in the Libyan French Oil and Gas Forum in Tunis

In reality, however, property has continued to be bought, developed and sold on a private basis through a private contract of sale. There is also investment – high risk investment in a highly inflated market – by SMEs and private individuals – but all without being able to register the transactions at the state Real Estate Registry.

The debate at the forum divided between the more conservative in nature who felt that a terra firma based on new, clear and strong post-Qaddafi era legislation was needed for investment in the sector to seriously progress, and the less risk averse who felt that either progress could be achieved sooner through minor changes or the activation of existing laws and processes.

The more proactive group of participants felt that to wait for Libya to achieve political stability would be unrealistic and pushed for short term solutions to solve the acute shortage of real estate in Libya, which would simultaneously activate the whole Libyan economy.

With regards to PPP between the private sector and the state, the Housing and Infrastructure Board (HIB), the state entity implementing billions worth of stalled real estate projects, reminded participants that its multi-billion 2008-2018 implementation plan was still incomplete – let alone any new projects.

On a positive note, it revealed that it was currently active in implementing three real estate projects and added that it identified several of its projects that are amenable to development through a PPP formula.

Possible solutions

With regards to providing guarantees for bank loans, it was suggested that insurance companies could provide some possible cover for some real estate investment bank loans. Other participants suggested loans being guaranteed by the long established but never activated state Loan Guarantee Fund set up to launch major loans for SME projects. Participants questioned why the state is not able to activate this organ.

The use of a blockchain system (online/cloud registration) for real estate registration, the development of a specific law for real estate investment, the reopening of the Real Estate Registry and the increased use of PPP in the sector were also raised as possible solutions to unblocking development in the sector.

Participants were almost united in the view that the Libyan state does not, and probably will not have in the short to medium term, the funds to activate the sector and that the sooner it accepts this and removes the barriers and obstacles to private sector participation the better for the sector specifically and for the Libyan economy on the whole.

 

https://www.libyaherald.com/2020/02/05/the-second-libyan-real-estate-development-forum-kicks-off-in-tunis-with-different-views-on-how-best-to-move-forward/

 

https://www.libyaherald.com/2018/10/19/ld-250-m-private-sector-real-estate-investment-fund-launched/

 

Tags: featuredReal estate development conference forum Tunis 2020Tunis

Related Posts

Sirte Free Zone meets Oman Chamber of Commerce at Oman Agrofood 2024
Business

Sirte Free Zone discusses port development and infrastructure projects with China Harbor‎ Engineering Company

June 16, 2025
LBBC leads delegation to Tripoli of 30 business representatives
Business

Libya Energy Conference, London, 2 July

June 16, 2025
CBL receives results from meetings with international banks
Business

CBL Governor Issa launches transformational financial projects, including National Strategy for Financial Inclusion

June 16, 2025
CBL and Madar launch Sadad mobile e-payment service
Business

Electronic Payment Forum and Exhibition 2025 opens at Tripoli Fairgrounds

June 15, 2025
Preparatory Committee for 30th session of the Libyan-Italian Economic Forum holds second meeting
Business

Libyan Italian Forum for Development and Reconstruction to be held in Benghazi from 25 to 26 June

June 15, 2025
CBL reduces annual hard currency transfer limit for individuals
Business

Libya’s economic reality: limited resources, liquidity challenges, inflation, and need for monetary base restructuring – Husni Bey

June 15, 2025
Next Post

UNSMIL condemns destruction of Sufi shrine in Sirte

UNSMIL head Salame reports progress in Libya’s inter-military faction talks

ADVERTISEMENT

Top Stories

  • Presidency Council objects to holding of south reconciliation event in Italy

    All recently clashing state and militia forces and their military vehicles will return to their barracks as of yesterday evening

    0 shares
    Share 0 Tweet 0
  • Construction work progressing at Benghazi’s new Tika airport

    0 shares
    Share 0 Tweet 0
  • Libya’s economic reality: limited resources, liquidity challenges, inflation, and need for monetary base restructuring – Husni Bey

    0 shares
    Share 0 Tweet 0
  • Aldabaiba stresses need to complete Airport Road works in full in conjunction with imminent opening of Tripoli International Airport

    0 shares
    Share 0 Tweet 0
  • Libya Energy Conference, London, 2 July

    0 shares
    Share 0 Tweet 0
ADVERTISEMENT
LibyaHerald

The Libya Herald first appeared on 17 February 2012 – the first anniversary of the Libyan Revolution. Since then, it has become a favourite go-to source on news about Libya, for many in Libya and around the world, regularly attracting millions of hits.

Recent News

The Interior Ministry had spent LD 50 billion in 13 years with no result: Acting Interior Minister Trabelsi

Nearly 1 million crimes reported to police stations – confirms urgent need to dissolve all parallel security agencies / militias

Sitemap

  • Why subscribe?
  • Terms & Conditions
  • FAQs
  • Copyright & Intellectual Property Rights
  • Subscribe now

Newsletters

    Be the first to know latest important news & events directly to your inbox.

    Sending ...

    By signing up, I agree to our TOS and Privacy Policy.

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    Welcome Back!

    Login to your account below

    Forgotten Password? Sign Up

    Create New Account!

    Fill the forms below to register

    *By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    No Result
    View All Result
    • Login
    • Sign Up
    • Libya
    • Business
    • Advertising
    • About us
    • BusinessEye Magazine
    • Letters
    • Features
    • Why subscribe?
    • FAQs
    • Contact

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.