The Palm City Residences in Janzour, Tripoli – Libya is now entering its final stages of completion. Structural works in over 95 per cent of the development are complete and most of the units in the eleven zones are currently receiving finishes.
Designed to high standards, and employing the best materials, Palm City is fast becoming the preferred residential address for the numerous expatriate families living in Libya. Over the last weeks, Palm City has been actively engaged in concluding contracts with multinational blue chip companies, as the project is now only months away from completion. Amongst the first to secure accommodation at Palm City were PetroCanada, Odebrecht, BNP-Sahara and Grupo SACYR, a Spanish contracting company with offices in Europe and North Africa.
The project comprises 413 residential units with a multitude of supporting leisure and entertainment facilities including a private sandy beach served with two restaurants and a central piazza which will act as the focal point for the community where people meet, shop, and see to most of their daily needs.
A large, fully-fledged supermarket will ensure that tenants are well served with groceries, home goods, consumables and fresh delicatessen seven days a week. Complementing the lifestyle at Palm City is a well-equipped clubhouse offering tenants a myriad of sports and leisure facilities to keep-fit and relieve the daily stress that modern lifestyles tend to create. Four tennis courts, squash courts, a gymnasium, a spa, and an indoor pool are amongst the array of leisure facilities being made available for the exclusive use of the tenants.
Interest in Palm City has been surging following the completion of four sample houses, each of which depicts the finished product with lush landscaped gardens. It is planned that Palm City Residences will receive the first tenants in July 2009 by which time the majority of the units will be leased out for at least a five-year term.
Palm City Limited is a wholly owned subsidiary of Mediterranean Investments Holding plc, a joint venture between Corinthia Palace Hotel Company Limited and the Kuwaiti National Real Estate Company.