23 Hrs
Source:
عين ليبيا
Libyan Wealth and Real Estate Challenges
Libya is facing a severe housing crisis characterized by the accumulation of hundreds of thousands of unorganized properties and developments, estimated to be worth over 500 billion dinars. Additionally, many housing projects have been halted since 2011, with a backlog valued at nearly 120 billion dinars, and approximately 70 billion dinars are needed to complete them. The root of the problem lies in the lack of proper urban planning, unclear property registration, underdeveloped infrastructure, and while the real estate wealth exists physically, it remains legally and financially inaccessible. Experts emphasize that addressing this crisis requires reforming the urban planning system, establishing transparent property registration, incentivizing financing, and employing dormant real estate assets in development projects—rather than relying solely on offering loans. They stress that the solution lies in evaluating these assets and inactive properties, transforming them into fundable and investable assets. Doing so would help reduce housing prices, promote comprehensive development, and unlock the hundreds of billions currently trapped in the real estate sector to boost economic growth.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)