Maabar details $10 billion Tunis real estate plan
Tue 10 Feb 2008, 13:45 GMT

TUNIS, Feb 10(Reuters) - A $10 billion tourism, office and housing complex north of Tunis will be one of Africa's biggest real estate projects and will take 20 years to complete, the project's manager said on Tuesday.

Al Maabar, a UAE-based venture of Aldar Properties <ALDR.AD> and Sourouh Real Estate <SOR.AD>, plans to build the Bled El Ward (Town of Flowers) complex of homes, offices, trade centres, hotels, golf courses and a health city over 5,000 hectares.

"We plan to build one of the biggest projects on the African continent," said Yousef Al Nowis, the managing director of Al Maabar International Investments. The development will be in Raoued, a northern suburb of Tunis, with a total cost of $10 billion.

"The project needs 20 years to finish. But work on the first stage will start as soon as possible to build 1,200 homes. They will be ready in five years," Al Nowis told reporters in the Tunisian capital.

He said the project would create 6,000 jobs during the first phase worth $2.83 billion.

Tunisia has struggled to lure more foreign investment and accelerate economic growth to levels at which 88,000 youngsters entering the job market every year can find work.

The north African country is trying to match Morocco's success in luring Arab Gulf petrodollars into high-profile tourism and real estate projects. (Reporting by Sonia Ounissi; Editing by Tom Pfeiffer/Quentin Bryar)

http://business-tunis.blogspirit.com/media/00/02/4107efdcce3810f9f4fc3f1e91c6b4b6.jpg

It looks amazing i saw the video on Youtube it s like a little Venise



GAMMARTH, Feb 5, 2008 (TAP) - The "Bled El Ward" (Roses City) project, which will extend over a 5000-hectare area, including 2600 hectares of artificial lakes, is the largest project launched by the Emirian "El Maabar" investment company in the African continent, at a cost of 10 billion dollars, i.e. 13 billion dinars.

The Head of State had enquired, on Monday, about the components of this project to be realised in Ariana and whose architecture draws inspiration from the Tunisian heritage, while protecting the ecosystem of the "Sebkha" (salt lake).

This city called "Bled El Ward," former name of Ariana, will include an integrated modern city, comprising notably a world-class health centre, residences, tourist, leisure, commercial and sports centres, notably a gulf course as well as several parks and green spaces.

This project provides for fitting out 50 km of beaches under the form of waterways inside the city and a way-through to the Mediterranean Sea to make of it the Venice of the southern Mediterranean and the preferred destination of cruise-loving people and an area for anchoring yachts navigating in the region.

The first part of the project, called "Diar El Fell" and including a sports city and residences, will be completed in a five-year period. "Diar El Fell" covers 300 hectares, including 110 hectares of artificial lakes. It will be built at the cost of 2.83 billion dollars, i.e. nearly 3.7 billion dinars.

Mr. Youssef Al Nowis, board member and director general of "Al Maabar" company, said during a news conference held on Tuesday in Gammarth that this project, whose achievement will span over twenty years, will provide no less than 10,000 jobs. He added that consultancy and research services will be entrusted to Tunisian experts.

He commended the Head of State's consideration for the various components of this project and the continuous encouragement that the President of the Republic lavishes on Emirian investors, pointing out that this project translates the exemplary nature of the Tunisian-Emirian co-operation relations.

Mr. Al Nowis announced, on this occasion, that the first studies providing for renovating the Sebkha and restoring its sea environment, will start in the first half of 2008.

The second part of this project, the "Diar El Yasmine," will comprise a health city, the first of its kind, on the southern shores of the Mediterranean, which will help consolidate Tunisia's positioning as a Mediterranean health destination, given the expertise and skills the country possesses in this field.

This large-scale project will be a business centre endowed with an advanced technological infrastructure.

"Al Maabar" company, with a capital of 150 billion dollars, was set up in February 2007 by one of largest real estate companies of Abu Dhabi to boost the creation of projects outside the United Arab Emirates. "Al Maabar" is carrying out projects in Morocco, Libya, Kazakhstan, Belarus, Malaysia, Egypt and Sudan, and is prospecting new opportunities of investment in other countries



I also added a picture of the area.


http://upload.wikimedia.org/wikipedia/commons/thumb/1/15/SebkhaArianaTunisia.JPG/300px-SebkhaArianaTunisia.JPG

http://www.jle.com/fr/revues/agro_biotech/agr/e-docs/00/00/EA/AF/texte_alt_fig1.gif

On the top right side of the picture you will see Sebkha Ariana.

Very good :cheers:, can you please add the youtube video?

Very good :cheers:, can you please add the youtube video?


hey matthias It s not ther anymore i don't know waht happened but i can't find it anymore !!!!!!!!!!!!!!!!!!!!!!
:ohno: