Gulf Finance House announced today that it has begun to conduct the required preparations and due diligence for Tunis Financial Harbour at Tunis Bay, with an estimated development value of a total amount of approximately US$ 3 billion. The project was announced in December of 2007 when Gulf Finance House Chairman Mr. Esam Janahi presented the components and details of the project to His Excellency Zine El Abidine Ben Ali, President of Tunisia who endorsed the project and expressed his support.
Mr. Esam Janahi, Chairman, Gulf Finance House, said, “Gulf Finance House has begun preliminary work on this new project as we are obtaining the necessary approvals and licensing from relative governmental authorities. We hope to begin work on the Harbour throughout this year. We are very excited by this project, which is our first in the Tunisian Republic, and positions GFH as one of the largest foreign investors in the country. We are confident that Tunis Financial Harbour will play a profound role in the development of the Tunisian economy, providing as it does, a world-class strategic and commercial infrastructure.”
Tunis Financial Harbour will be located in the Raoued North, Tunis and just 25 minutes from the Tunis Carthage airport. A Memorandum of Understanding between Gulf Finance House and the Government of Tunisia was signed earlier this year.
The decision to develop this project is aligned with Gulf Finance House’s continued focus on the conception and development of economic infrastructures within the rapidly emerging economies of Asia and the MENA region.