Hamadi Jebali views the model
Tunis Financial Harbour work to commence
Tunis, March 8, 2012
Tunis Financial Harbour (TFH) has signed a strategic partnership agreement with Demtas Group, a leading Turkish developer, to commence the infrastructure and construction work on the project.
The deal follows final approvals for the project, being developed by the Bahrain-based Islamic investment bank Gulf Finance House (GFH), from the Tunisian government.
The development’s masterplan has already been approved by the Tunisian Government, and final go ahead on the infrastructure design, which were submitted at an earlier stage, is now pending.
Recently, the Government of Tunisia, in support of TFH and as part of the investment agreement it signed with the company, allocated the budget necessary to complete major and strategic infrastructure work in relation to access and roads to TFH. This support reinforces the government’s commitment to its deliverables as part of the agreement signed with TFH, said a statement.
Following the agreement, Tunisia’s interim Prime Minister Hamadi Jebali met Esam Janahi, president of TFH and executive chairman of GFH and viewed a model of the project.
Janahi said: “The Tunis Financial Harbour is recognised as a landmark development for Tunisia, with the potential to attract significant investment, both from within the country and from outside the country, as well as for the large number of Tunisian jobs it will create. The ongoing support extended by the new Tunisian Government has helped the development move from milestone to milestone, and with the appointment of Demtas Group as the strategic partners, we are now set for the next phase as soon as infrastructure designs are approved.”
As a fully integrated, mixed-use development, TFH will include a variety of residential and commercial components, in addition to world-class schools, touristic attractions, a top-notch healthcare facility, a marina and an 18-hole golf course.
Imad Nesnas, managing director and general manager of TFH, said the project will create approximately 16,000 local jobs, both during the construction phase and afterwards. Once completed, the development is projected to have a permanent population of around 110,000 residents across the 500 hectares TFH will occupy. - TradeArabia News Service
More Construction & Real Estate Stories
- Damac launches luxury apartments at Expo site
- Kuwaitis top GCC property buyers in Oman
- Rubber World to showcase at Big 5 Saudi
- Tool to help create effective property listings
- 'Smart' move by Dubai Design District
- Drake unit wins $13m contract in India
- Solar-powered cleaning boats launched in Sharjah
- $27m Expo Hotel Sharjah deal signed
- Arabtec unit wins $282m Emaar contract
- Abu Dhabi to host pool & spa expo
- ADCM unit secures $213m bridging loan
- Cluttons Dubai launches new luxury apartments
- Dubai developer Damac profits triple to $641m
- Dubai to start work on $544m water canal
- Dubai property market can absorb 25,000 units
- Jones Lang LaSalle renamed 'JLL'
- Aldar raises synergy estimate from Sorouh merger
- UAE industrial property sector keeps up growth
- Dubai residential property prices up 26pc
- Majid Al Futtaim to build new mall in Dubai IMPZ
- 300 firms to take part in Dubai property forum
- Naseej inks deal to develop Bahrain projects
- Dadabhai unveils new residential project
- Flowcrete completes Dubai Mall project
- Global asphalt demand hits new high
- $1.3bn infrastructure investment firm set up in Saudi
- Manara sees big project villa success
- Global giants eye RAK utility projects
- Cayan partners with international artist Zsuzsanna
- Samsung, Hyundai win $1.7bn Iraq deals