LAIP acquires strategic land in Tajoura

The Libya Africa Investment Portfolio (LAIP) has formally received 243,9 hectares of land in Tajoura, a coastal suburb approximately 14 kilometres east of the capital Tripoli, marking a significant transition from the site’s previous agricultural role as the Ostrich Project. The handover ceremony took place at the municipal headquarters today.

In a milestone signing ceremony, LAIP Chairman Mustafa Abu Fanas and Major General Abdel Fattah Al-Khabouli, Commander of the 51st Infantry Brigade, formalised the transfer documents.

The event was witnessed by senior Tajoura Municipality officials, LAIP executives, and local community representatives.

According to the development blueprint, LAIP envisages transforming the site into a comprehensive commercial and service hub.

The project, aligned with the Government of National Unity’s economic diversification agenda, aims to create substantial employment opportunities and boost local economic growth.

The land transfer, officially documented under certification booklet No 20033 and Map No 8468/202, represents one of the largest urban development initiatives in the region.

“This project symbolises our commitment to sustainable urban development and economic growth,” stated Abu Fanas during the ceremony. “We’re not just building a commercial city; we’re creating opportunities for local businesses and contributing to Libya’s economic renaissance.”

LAIP, established in 2006 as Libya’s sovereign wealth fund, has built a reputation for strategic international investments across diverse sectors.

The development timeline for the commercial city project will be announced in the coming weeks, following detailed consultations with urban planning experts and stakeholders.