International Hotel Investments plc Medina Tower â

September 7, 2012
|In Company Announcements
|By Jesmond Mizzi Financial Advisors

International Hotel Investments plc Medina Tower — first major contract signed

International Hotel Investments p.l.c. (IHI) announced that Medina Tower Joint Stock Company has signed a construction contract for the sub and superstructure works of the project with a Turkish contractor, Koray.

Medina Tower is a joint venture between IHI, Mediterranean Investments Holding p.l.c. (MIH) and the Economic Development Real Estate Investment Company (EDREICO). IHI and MIH each hold a 25 per cent shareholding in Medina Tower whilst EDREICO holds 50 per cent.

Medina Tower is a mixed-use development in the centre of Tripoli comprising residential and office space, together with retail areas within a 200,000 square metres of build-up areas over 40 floors and an additional four underground floors for car parking.

To view the official company announcement, click here.