Decision No. 154 of 2023 Correcting Decision No. 53 of 2023

The Council of Ministers corrects its prior Decision No. 53 of 2023, clarifying that sale contracts between the State Property Authority and Al-Khadra Holding Company for 21.5 hectares in Janzour are rescinded. All legal effects are cancelled and property reverts to pre-contract status.

This decision exposes significant execution risk in transactions involving state property in Libya. The government retroactively unwound a concluded sale to a major holding company, raising red flags about contract sanctity and the unpredictability of state entity dealings. Foreign investors acquiring or leasing state assets should anticipate similar retroactive cancellations, particularly involving politically connected transactions or premium locations. Legal opinions and due diligence on state property deals should be heavily discounted for enforceability risk.