Al Waha development LibyaAbu Dhabi based Al Maabar unveiled the masterplan for its AED 1,400 billion Al Waha development in Libya.
Al Maabar is implementing the project through its JV, Libya for Real Estate Investment and Development with the Libyan Investment and Development Company and together they made the announcement at the Skyline Real Estate Exhibition, being held in Tripoli from the December 14th to 16th 2009.
In developing the masterplan for Al Waha, the project’s architects, Atkins Middle East, responsible for some of the most iconic developments across the region, took inspiration from Libya’s rich cultural heritage. This masterplan is inspired by three specific elements including: Ghadamis, an ancient oasis town located in West Libya famous for its enchanting multi level architecture is reflected through the podium level Al Waha Towers;
The outer façade of The Towers is a reflection of one of Libya’s intrinsic art forms the mosaic. This is illustrated through the use of coloured glass pieces positioned to resemble the sophisticated designs often found in the ancient cites. Lastly, a reference to Libya’s oases is dramatically recreated in the form of idyllic water features and lush verdant surroundings.
On completion the ambitious development will span over 65,000 square meters and include 31 storey luxurious hotel, 100 serviced apartments, 28 storey office tower, 11 mid rise residential buildings, a health club and a shopping mall that will include a supermarket, food court and a five screen cinema.
Mr Yousef Al Nowais MD of Al Maabar said that “Al Waha reflects our ambitions to transcend the mixed used realty landscape in Tripoli. By announcing this, state of the art project, we hope to meet the capital’s growing needs for contemporary housing, business and entertainment areas.”
He said that “We have ensured that Al Waha captures the essence of Libya’s unique heritage and history in an iconic and modern urban design. The project will follow international standards and guidelines for environmental and architecture practices.”
Mr Al Nowais said that “Libya’s unique geography and size and the rapid modernization the country is now undertaking presents significant opportunities for real estate development. Prior to entering the Libyan market our priority was to establish a local partnership with a company that not only had excellent experience in the local realty market, but also shared our common vision and long term goals LIDCO has proven to be an excellent choice. Furthermore, through this partnership, Al Maabar will be able to add real value to its partner country through knowledge transfer, job creation and true collaboration.
Mr Abdul Hameed Al Dabeeba chairman and GM of LIDCO said that we are proud to unveil the masterplan for Al Waha, which we hope will help to raise international awareness of Tripoli as a growing real estate market. We commenced work on Al Waha last year and despite the global economic crisis that has affected the realty and financial sectors, we are progressing on budget and on schedule and are on track to complete the project as planned. He said that when the development becomes operational in 2012, approximately 6000 people will work and live in this community.
(Sourced from Menareport.com)
