The Gulf North Africa Holding Company (GNAHC) has announced that its Libyan affiliate company has sold the Janzour property project for more than 11 million Libyan dinars to an investor in Libya.
The GNAHC said on Wednesday, In a statement published by the Kuwaiti Stock Exchange on its official website, that the Libyan General Trading Company (LGTC), which 20% of it is owned by GNAHC, sold the Janzour real estate project to an investor in Libya for more than 11 million Libyan dinars, indicating that its share of the deal amounted to 1.6 million dollars.
The company attributed possible difficulty of determining the time to receive or transfer the amount; on coordination and follow-up of approvals from the relevant authorities in Libya.
The GNAHC, in its statement, did not specify the identity or nationality of the buyer, calling him/her or it as “an investor” in Libya.
The Gulf North Africa Holding Company is a Kuwaiti shareholding company, which focuses on investment and development projects in North African countries.