Business | Property

Hydra set to build $150m Libya project

Al Fahim said Hydra is also looking to develop properties in up to five countries in Latin America.

  • By Himendra Mohan Kumar, Staff Reporter
  • Published: 23:55 February 11, 2008
  • Gulf News

Abu Dhabi: Hydra Properties, a prominent UAE real estate developer with developments spread across Dubai and Abu Dhabi, plans to launch a $150 million office building and hotel project in Libya soon, Hydra's chief executive officer, said on Monday.

"We are finalising the design in Libya. We are focusing now on North Africa and Pakistan," Sulaiman Al Fahim told reporters on the sidelines of a construction conference here.

He said Hydra began construction of its residential project in Mexico last December. The project's first phase, to be completed towards the end of 2009, is valued at $70 million. Al Fahim said the combined value of the proposed four phases of Hydra's Mexico project could be as high as $500 million. The last phase of the project is scheduled for completion in 2015.

Al Fahim said Hydra is also looking to develop properties in up to five countries in Latin America.

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