Napred to build 2,200 apartments in Libya – residential complex worth EUR 42m

(Dobroslav Bojović)

Belgrade-based building company Napred will soon return to the building sites in Libya, Kuwait and Algeria where it has already opened its branch offices. As Dobroslav Bojović, the Chairman of Napred's Administrative Board, announced for eKapija, that company will start preparing the location for a residential complex in Libya at the end of the year.

- We are going to build about 2,200 apartments. The project, which is financed by the Libyan Ministry of Capital Investments, is worth EUR 42m. The complex will be built in the city in which Napred erected a mosque in the late 1980's - said Bojović.

He added that Napred had good references in the Libyan market where it had been active nearly two decades before.

Napred operates in the markets of Slovakia, Austria, Russian Federation, Belarus and Kazakhstan. The company's profit in 2009 amounted to RSD 1.16bn, which is the record business result in the history of Napred.