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Distribution of type of residental in Tripoli, Libya for the year 2006

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Distribution of type of residental in Tripoli, Libya for the year 2006 Powered By Docstoc
					       Chart 4.2                                                                              The most prevalent form of housing is the housh, a low level building centred
       Distribution of type of residential premises in Tripoli, 2006                          around a courtyard which accommodates larger family sizes, including
                                                                                              members of the extended family.
         Type                                     Number
                                                                                              Villas are increasingly popular, particularly in the suburbs where they often
         Housh                                              104,256                           come with larger land plots. Apartments are less popular but still prevalent
         Villa                                                  28,512                        within the central areas and particularly in a condominium style which is now
                                                                                              associated with outdated government social housing projects.
         Apartment/Condominium                                   7,864
         Total                                              140,232                           This situation is set to change as a number of major property developments
                                                                                              include tower-style residential apartments which are likely to create a new
       Source: General Information Authority, Building Census 2006                            market appetite among Tripoli residents. A brief supply profile of some of the
                                                                                              key residential areas of Tripoli highlights the disparity between districts.
       Chart 4.3
       Distribution by type of residential premises, Tripoli, 2006                            Chart 4.4
                                                                                              Breakdown of residential supply by type for key districts, Tripoli
                                                        Villa
                                                       20.3%

                                                                                                            Ho ush      Villa   A ppartment

                                                                          A partment /
                                                                         co ndominium             Hai A l Andalus
                                                                              5.6%
                                                                                                          Dahra
                                                                                                         Siyahia
                                                                                                   Green Square
                                                                                                    Bin Hashoo r
                                                                                                       Nof lyeen
                                                                                                       Old To wn
                                Ho ush                                                                Gargaresh
                                74.1%
                                                                                                          Tajura
                                                                                                   Souk al Juma

                                                                                                                    0     2,000    4,000      6,000   8,000   10,000   12,000   14,000   16,000   18,000

       Source: General Information Authority, Building Census 2006
                                                                                              Source: Building Census 2006, General Information Authority




© Frontier MEA Ltd 2008                                                                  30                                                                                              Sample Report
6.3       Central Business District



                      Tripoli Gold Souk                             Burj Al Fateh                        Hotel Bab Al            Dhat Al Emad
                                                                                                            Bahr




                                                                                                                        J
                                                                                                                                                Corinthia Hotel
                                                                                                                                                Bab Al Africa


                                                                                        A
Tripoli
International
                                                                                                                             I
Fairground                                                                   C                   E F                    H
                                  B                                          D


                                                                                                          G


             Development Key
             A = Daewoo Hotel             D = Hydra Tripoli Tower            G = LAIP Project              J = NESCO Tower
             B = Beit Al Emaar Tower      E = Tripoli Centre                 H = Tripoli Tower
             C = Burj Bulayla             F = Gadaffi Tower                  I = Tripolis Tower (Oyia)



© Frontier MEA Ltd 2008                                                                   40                                                             Sample Report
6.3     Central Business District

                                                                                                  This is the key emerging business district of Tripoli, and contains the only interna-
                                                                                                  tional 5* hotel in the country, the Corinthia Bab Africa. The district is centred around
                                                                                                  the two principal office developments in the city, the Burj al Fateh and the Dhat al
                                                                                                  Emad, both marked on the map above. Office rents in this area are amongst the
                                                                                                  highest in the city, at over $25/m²/month, and considerably higher in the Corinthia
                                                                                                  Business Centre.

                                                                                                  The CBD contains the most concentrated cluster of new sites in the city, and is set to
                                                                                                  be transformed in the coming five years. Sites are at various levels of progress, but
                                                                                                  most are either office or hotel towers and include the Daewoo hotel, the Tripolis
                                                                                                  Towers, the Burj Tripoli and the Tripoli Centre. All are covered in more detail in the
      Type                 Sales        Rents          Grade        Growth          Yield (est)
                                                                                                  project profile section of this report.
      Apartments           8*           7*             C            mid             11-13%
                                                                                                  There are no dedicated retail buildings, although two floors of the Burj al Fateh are
      Villas
                                                                                                  dedicated to shops and services aimed at office tenants in the building. Around 10 C-
      Offices              n/a          8+             A            high            n/a           grade residential towers lie to the west of the Burj al Fateh, and are home to lower-
                                                                                                  income residents. It is possible that these may be demolished in the future and one
                                                                                                  newer condominium has already been erected, offering A/B grade apartment space.
      Residential Sales Grade Key ($/m²)                                                          There are no villas in the area.
      1 = 0 - 440     3 = 875 – 1,315    5 = 1,750 – 2,190 7 = 2,625 – 3,060
      2 = 440 – 875 4 = 1,315 – 1,750 6= 2,190 – 2,625 8 = 3,060– 3,500                           A sports ground is also located adjacent to the residential towers. Two large govern-
                                                                                                  ment-run hotels, the Bab al Bahr and the Bab al Jadid, border the seafront area, al-
      Residential Rentals Grade Key (monthly rent $/m²)
      1 = 0 – 6.25   3= 12.5 - 18.75 5= 25 - 31.25    7 = 37.5 - 43.75                            though there is speculation that these may eventually be demolished as part of the
      2= 6.25– 12.5 4= 18.75 - 25    6 = 31.25 - 37.5 8 = 43.75 - 50.0                            as-yet-unannounced masterplan for Tripoli.
      Office Rentals Grade Key (monthly rent $/m²)
      1 = 0 - 2.5    3= 5.25 - 7.90 5= 10.5 - 13.0 7 = 15.5 - 18.5                                Although road quality is reasonable in this district, traffic congestion and access is
      2= 2.5 - 5.25 4= 7.90 - 10.5 6= 13.0 - 15.5 8 = 18.5 - 21.0                                 already emerging as a serious problem. One section of Fateh Road is used as a de
                                                                                                  facto stop for minibuses, which causes tailbacks and congestion. However it is likely
                                                                                                  that this will be moved to an alternative area once the district becomes better devel-
                                                                                                  oped.

                                                                                                  There is no available land in this area, key pockets being allocated by the government
                                                                                                  for development projects.
      * Starred values reflect one new A-Grade condominium recently constructed. This indicates
      the forthcoming price status of CBD property


© Frontier MEA Ltd 2008                                                                               41                                                                           Sample Report
7.27     Burj Al Bahar


                          Project: Burj Al Bahar


                          Map Ref: Y


       Developer(s)       Hashoo Group (Pakistan)   Location                                       Tajura (Coast)


       Site Size (m²)     700,000                   Total GLA ( m² )                               n/a


       Components                                   Serviced apartment tower (100 units), 5* Hotel, office tower, retail and administration centre




       Estimated          2010                      October 2008                                   Construction in progress
       Completion                                   Status
       Date

       Contractors        Summa (Turkey)            Consultants                                    Dar al Handasah (Design consultant, Lebanon),
                                                                                                   Shamel (Engineering, Libya), Sites International
                                                                                                   (Egypt), Veritas (Structural, UK)


       Announced          $280 million              Lease Terms                                    70 years
       Value (USD)




© Frontier MEA Ltd 2008                                                   103                                                                  Sample Report

				
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Description: Distribution of type of residental in Tripoli, Libya for the year 2006