The Sharjah-based Tameer Holding, which is developing a $20 billion residential and tourism project in Libya, expects strong interest from GCC buyers for properties in the complex.

The new city, Wadi Al Sharqi, will have Dubai-style mixed-use developments, a senior Tameer official said.
 Tameer Holding earlier said it had signed a deal with the Libyan government to develop the residential and tourism development project near the capital of Tripoli. 'The project is a complete city ... (it) includes residential and commercial towers, business centres and tourism facilities,’ Tameer said.
The firm said it will be the main developer in the project along with Dubai’s Tatweer and the Arab Fund for Economic and Social Development – a finance organisation which belongs to Arab governments.
‘The residential base is expected to house a population exceeding half a million,’ and the project will be built on an area of 40 sq km on the Mediterranean.
Set up in partnership with Saudi investors, Tameer Holding is involved in a number of projects in the booming UAE real estate sector and is building a residential development complex in Jordan. The company’s investment portfolio totals Dh40 billion ($10.9 billion).
This project represents the largest Gulf investment into the North African region, and the largest Arabic investment in Libya, on its own.
This project comes under the huge development that Libya is witnessing and is consistent with the future vision that the Libyan Government is striking to provide for its people.
The agreement was signed under the auspices of the secretary of the General People's Committee, Dr Baghdadi Al Mahmoudi, Omar Ayesh, Tameer president, and Hamid Elhouderi general manager of the Arab Fund for Economic and Social Development.  
Tameer Holding president Omar Ayesh said: “This project will be the gateway that combines both the modern designs and the unique heritage of the Libyan culture presented by history, traditions, origins and deep- roots.
“This project will be representative of the booming property, tourism, and trade sector in Libya.’
He added: “This project will be the gateway that combines both the modern designs and the unique heritage and history of Libya.
The project is located in the Eastern Valley that borders Tripoli, on an area that exceeds 40 sq km, and is distinguished by its beach that is considered as one of the most beautiful beaches on the coast of the Mediterranean.
The city-sized project includes residential and commercial towers, business centers, and tourism facilities that comprise various services such as schools, universities, hospitals, gardens, playgrounds, in addition to entertainment centres, clubs, gyms, amongst other amenities.
The project will have a unique and developed infrastructure that suits the size and vision of the development and includes the construction of smart homes, which with feature advanced technology that will put it on par with the world’s leading international cities.