Jean Pierre Schembri, a leading figure within the Corinthia Group, has been appointed Executive Director of Mediterranean Investments Holdings plc (MIH), the Maltese company behind the Palm City development in Libya.
His appointment follows the Corinthia Group’s €74 million purchase of the 50 per cent stake in MIH previously held by Kuwait’s National Investment Holding, who have been involved in the project since its establishment in 2005.
Mr Schembri is currently the CEO of Corinthia Palace Hotel Company Limited (CPHCL), having joined the Group in 2018 and later assuming senior leadership responsibilities.
He is involved in the strategic direction and oversight of the Group’s diverse business interests and sits on various CPHCL and Group subsidiary boards.
Prior to joining the Corinthia Group, he served at the Permanent Representation of Malta to the EU before joining the European Union Civil Service in 2012, where he helped attract the European Union Agency for Asylum (EUAA) to Malta.
Following the agency’s establishment here, he also served as the Head of Unit for Communications and Stakeholder Relations.
As a result of this transaction, Ahmad Wahedi, Ahmed Yousri Ahmed Noureldin Helmy and Khadija Oubala have resigned as Directors as legal and judicial representatives of MIH. Mr Helmy has also resigned as member of MIH’s Audit Committee.
Daniela Micallef has also replaced Krystle Ellul as Company Secretary.
MIH is the parent company of Palm City Limited, which owns and operates the Palm City Residences – a luxury gated residential complex in Janzour, on the outskirts of Tripoli.
The development has long been a flagship Libyan asset for the Corinthia Group and its associated companies.
Photo: Corinthia Group
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