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NREC Achieves 90% Occupancy Rate for Palm City Residences Project in Libya

11 - September - 2014

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NREC, through Mediterranean Investments Holding p.l.c., one of its associated companies, confirms that, through Palm City Limited (100% subsidiary of MIH plc) owner of Palm City Residences in Libya, operations at Palm City Residences have continued to improve notwithstanding the challenging times the country has been through during the past period. Up till end of July 2014, registered a 90% occupancy rate, equating to 372 out of the total 413 luxury residential units included in the project. The company’s board members are very pleased for this achievement and will remain focused on improving the performance of Palm City Residences by increasing occupancy whilst retaining its goodwill as the leading provider of high-end residential properties for rent in the Libyan market. 

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