By Sami Zaptia.
London, 1 February 2020:
The Second Libyan Real Estate Development Forum will be held in Tunis from 5 to 6 February, organizers announced.
Speakers will include the Ministers of Finance and Planning, the head of the Housing and Infrastructure Board (HIB), the Economic and Social Development Fund (ESDF), The Organization for the Development of Administrative Centres (ODAC), the Mayors of Tripoli and Benghazi, the Land Registry, Jumhouria and the Real Estate Savings and Development banks and leaders in the private sector.
The topics of discussion will include urban planning and its role in development; the role of Libyan bank financing in the sector; activation of the suspended land registry and the reality of PPP in Libya.
It will be recalled that at the First Real Estate Development Forum held in Tunis in October 2018. A LD 250 million Islamic-compliant Libyan private sector real estate investment fund was announced.
Organizers had planned to announce in the months after the event the start of the initial public offering so that every Libyan citizen can contribute and buy shares in the fund. However, the on-off fighting in and around Tripoli led to a delay.
The forum had discussed ways for the private sector to cooperate with the state sector in completing the implementation of the country’s stalled 550,000 housing-unit projects contracted to foreign companies.
The view by participants was that with Libya’s insecurity, there is a low likelihood that foreign contractors would be able to resume their stalled projects in the short term – and that a solution was needed to solve this conundrum.