EMAR – The Real Estate Development Forum – Tunisi October 17-18 2019
Over 100,000 housing units per year will be put on the Libyan domestic market over the course of the next 5 years, numbering over 550,000 in total.
About 250,000 of these are yet to be completed, spread out between Tripoli, Benghazi and other large Libyan cities, the result of the twenty-year plan launched by Gaddafi that was interrupted in 2011.
Anyone who has travelled to Libya recently has surely seen them, lined up for miles along the roads that lead to the international airport of Tripoli or on the outskirts of Benghazi: some are finished and ready to be furnished, others are yet to be completed.
During the Forum, held in Tunis at the Laico Hotel, government, banks, insurance companies, private investors and investment funds discussed how to carry out this great real estate operation; what new rules to adopt in order to allow for the transfer of ownership from the Government to Individuals and Funds; and how to learn from the reconstruction of Beirut, in Lebanon, which was, thanks to the creation of innovative financial solutions, a win-win for all stakeholders, including the poorest Lebanese citizens.
This activity will give a strong boost to the local economy and will again be, as it was in earlier years, a point of attraction and a destination for the workforce coming in from neighboring countries.
A positive scenario for any supplier of building materials, related technologies and home furnishings, which must be taken into consideration by the Italian Companies.
It may seem unusual to talk about this project when our newscasts describe a still-not pacified situation, but as many entrepreneurs know, being able to identify opportunities abroad before anyone else is the key to success and corporate growth in times of internal crisis.
Last week, Libya returned to almost the highest daily oil extraction levels, with peaks of 1,200,000 barrels; the price of crude oil returned to levels of around 70 dollars per barrel, compared to 25 dollars two years ago; both clear indicators of the potential spending capacity that the public sector will benefit from in the near future.
The recent Palermo Conference, with the symbolic handshake between Al Serraj and Field Marshal Haftar, also seems to be an important positive sign.
Show Yourself participated in the Forum in order to identify ways for Italian companies to supply their products to the sectors involved.
Mr. Hosni Bay, President of the HB Group
HB Group (Hosni Bey Group), of which Mr. Hosni is Chairman, is among the sponsors of the Forum. The group has a long experience in the private sector, with interests that range from food distribution to goods management, from construction to insurance, banking and education. An educated man, with several official recognitions from many Western countries, Mr. Hosni represents modern Libya: with his open-minded approach, he promotes innovative ideas while remaining strongly linked to his homeland, and his life full of important experiences has turned him into a role model for many compatriots.
His excellent knowledge of the Italian language makes it easier to share his important considerations about the Forum and the developments in the Real Estate sector, as well as the positive implications for the Italian companies.
Part 1 – The amount of Libyan assets deposited in banks and the expected development in the construction sector, with the support of the private sector
Part 2 – Reconstruction plans, public funding and economic situation
Part 3 – 550,000 housing units and their value for the Italian companies
Part 4 – The reconstruction of Benghazi, the Municipality and the 2019 Elections
Libia, Fiera Maggio 2018