Building and Construction in Libya
The building and construction industry in Libya has played a chief role in our economic and social development since the early 1950s. It is thanks to this that we have experienced a great increase in the sheer scale and volume of our building and construction industries.
During the 1970s we were the leading per capita consumer of cement and to add to that possibly the world’s largest civil engineering water project has been planned, designed and even constructed in the last 20 years here in Libya.
Despite the substantial CI contributions to the industry as well as numerous other investments in building activities, the industry remains somewhat undeveloped and under-researched. Libya’s current capacity is unable to meet national housing supply needs and we are witnessing a construction boom that is set to bypass recent activities. There are a great number of buildings that need to be built or upgraded urgently; including airports, roads and railways and with an expanding tourism industry we need to meet the needs of expanding resorts, hotels and office buildings. New homes need building as a matter of importance.
But a lack of financial support has meant that Libya is struggling to meet demands for rapid changes and a restructuring of the building and construction industry is a necessity. Today, private construction companies are being re-established and the impressive oil revenues that the country generates are allowing us the chance to build up our infrastructure. Trends have predicted that a new boom will occur within the next decade and 500 000 housing units alone are planned for the next ten years at a cost of an estimated 25 billion dollars.
Railroad projects are also being invested in and a subway system and city rail are also planned for the areas of Tripoli and Benghazi. The building and construction industry in Libya is set to soar in years to come, with the right financial backing.