News Archive

NREC confirms the continuity of work on the “Palm City Residence” Project in Libya

20 - November - 2011

NREC, through The Mediterranean Investments Holding Company, one of its subsidiaries and the developer of "Palm City Residence" project in Libya, confirms that the implementation works of Palm City has continued with minimum costs and adversities during this challenging period imposed by the current political situation in the country.

Within this framework, NREC emphasizes again for all investors, that it has provided comprehensive security measures for all company property and project facilities, until the situation returns to normal and the political crisis faced by this country ends.

A number of multinational corporations and non-governmental organizations have already signed new agreements. These together with past Palm City tenants already relocated themselves at Palm City Residences. Other tenants have made contact with PCL team, indicating that they are preparing to return to Tripoli shortly with new clients requesting to lease units with immediate effect in the coming period.

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