The Ministry of Housing and Construction reported last Thursday (26 March) that as part of its efforts to strengthen partnerships with the private sector and attract major companies to invest in housing and economic development, the Minister of Housing and Construction, Essam Al-Tamouni, held a meeting on the same day with the Libyan-Egyptian joint venture, Al-Miraj Company.
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During the meeting, the company presented a detailed visual presentation on its planned projects within Libya, independent of the Ministry. These projects include integrated residential, commercial, and administrative developments based on smart city principles. The company also outlined its plan to enter the real estate investment sector in partnership with the Ministry of Housing and Construction, through its executive bodies and relevant national housing authorities.
Diversify funding sources, reduce reliance on state budget: encouraging local & foreign investment
The Ministry said the meeting aligns with its strategy to diversify funding sources and reduce reliance on the general budget by encouraging local and foreign investment in housing and urban development projects. This aims to contribute to the advancement of the national economy and the rationalization of public spending.
Ministry committed to fostering cooperation with leading companies in the sector
Minister Al-Tamouni affirmed that the Ministry is committed to fostering cooperation with leading companies in the housing and construction sector. The Ministry added that the goal is to provide suitable housing with all necessary services according to the highest modern standards, in line with the “Return to Life” plan launched by the Tripoli based Libyan Prime Minister.
The meeting was attended by the Chairman of the Board, Dr. Abdul-Muhaimin Abu-Dina, Board Member Mr. Mustafa Al-Waer, the Head of the Tripoli City Development Authority, Engineer Rajab Al-Dali, and several ministry advisors.
