Are you interested in real estate development in Libya?
Libya is a land that is bursting with opportunities for an experienced real estate developer. From hotels to gated communities, Libya offers huge potential. Although the potential is obvious, there are few things to keep in mind before jumping into a large real estate development deal.
Find the key local partner
Since the Libyan real estate market is not open to the other nationalities, you will need to find a strategic local partner for your venture. It is vital that you find a partner who has the capacity to help you accomplish your goals in Libya. You will need to decide if you are looking for an investing partner or just a partner for the project. Take your time to find your key partner.
Understand the Libya Laws
Before you jump into a massive development deal, you will want to make sure you understand the Libyan laws on finance and investment. You should remember to ask the important questions concerning taxation and repatriation of investment capital. It would be wise to get a few opinions about the laws to make sure you fully understand what you are getting in to.
Understand the Risk & Return
Libya offers the potential for high return on investment! At the same time, Libya is a very high risk country for developers. Make sure you do your market analysis and risk assessment before investing massive amounts of money in Libya.
Find the gap in the market
The last piece of advice is to find the gap in the market. Do you research to find the area in the Libya real estate market that has not yet been fully developed.