International Hotel Investments plc - Investment in Medina Tower

On 18 November, International Hotel Investments plc announced that it has become a 25% shareholder in Medina Tower Joint Stock Company in Tripoli Libya. The other partners in this joint venture are Mediterranean Investments Holding plc (MIH) which holds 25% and the Economic Development Real Estate Investments Company (EDREICO) which owns the other 50%.

Medina Tower Joint Stock Company was set-up to construct a mixed-use development in Libya comprising residential, office space and retail outlets covering 200,000 square metres over 40 floors. The Medina Tower will also comprise four levels of underground parking.

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