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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.
 

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What is a 'financial harbour'? Will it be the financial heart of Tunis connected to the port?
 

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Manama, Bahrain / Tunis, Tunisia, 14 December 2007: Gulf Finance House (GFH), today announced its plan to set up the Tunis Financial Harbour (TFH) at Tunis Bay. With an estimated development value of approximately US$ 3 billion, Tunis Financial Harbour marks the entry of GFH and its Clients into Tunisia, as it positions itself as one of the largest foreign investors in the country.

To be located in the Raoued North, Tunis and just 25 minutes from the Tunis Carthage airport, the Tunis Financial Harbour was formally unveiled to His Excellency Zine El Abidine Ben Ali, President of Tunisia at a special ceremony held in Presidential Carthage Place Tunisia. A Memorandum of Understanding between Gulf Finance House and the Government of Tunisia was signed earlier this year.
A member country of the World Trade Organization (WTO), Tunisia has been ranked as the most competitive country in North Africa by the World Economic Forum in the 2007 edition of its Global Competitiveness Report. It is also the first country on the southern coast of the Mediterranean to have concluded a partnership and cooperation agreement with the European Union, the main component of which is the establishment of a free-trade zone. Since 1987, it has recorded an average growth rate of 5% per annum.

Mr. Esam Janahi, Chairman, Gulf Finance House, said: “The Tunisian economy has been constantly outperforming the African average, with the country’s per capita GDP being amongst the highest in Africa, driven by foreign direct investment. This growth along with progressive and proactive government has made Tunisia a very attractive investment destination for us. We thank the Tunisian government for its support.”

“The country could benefit from developing its offshore financial services industry and creating a world-class International Financial Centre for North Africa. Tunis Financial Harbour has been created by some of the world’s leading financial services strategists and utilises a business cluster model. We are confident that TFH will make a significant contribution to the Tunisian economy in the long term, and will be seen as a strategic component of Tunisia’s economic infrastructure.”

Elaborating on GFH’s involvement in the project and its planned components, Mr. Peter Panayiotou, Acting Chief Executive Officer, GFH, said: “GFH is focused on expanding its horizons globally with a particular focus on emerging economies with strong growth potential. Simultaneously, the Bank is also focused on consolidating its position in the wider MENA region by tapping into specific opportunities, with the Tunis Financial Harbour project being the latest venture.”

”Having successfully developed and launched a world-class financial district in Bahrain, we were confident of replicating this success in North Africa. Apart from the economic drivers behind this decision, Tunisia’s ability to provide talented human resources, with the country reporting relatively high investments in higher education as a proportion of GDP, was a key factor that prompted us to choose Tunisia as the location for our first financial harbour in North Africa.”

“Tunis Financial Harbour will comprise four key clusters, in addition to hosting a wide array of professional and other support service firms. The clusters at will include, a Corporate Centre, an Investment Banking and Advisory Centre, an Insurance and Takaful Centre and an Exchange.” Mr. Panayiotou added.

To be spread over a total site area of 450 hectares and as per initial development plan, Tunis Financial Harbour will consist of a marina and a commercial cum residential complex of luxurious villas, commercial/ business developments, a golf course and a stadium. The project will also contain a world-class business school. It is estimated that Tunis Financial Harbour will create thousands of jobs, and bring in billions of dollars to the overall Tunisian economy.
 

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What is a 'financial harbour'? Will it be the financial heart of Tunis connected to the port?
No it s basically a replica of the Bahrein Financial Harbour wich is one if not the biggest project in Bahrein at this moment .

It will include a Corporate Center an Investment Banking and an international exchange .

it will also offer a marina , commercal complex and deluxe residential development a stadium and a golf course .

There will be also the First Porta Moda of NA :)
 

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The concept will be implemented in: Abu Dhabi, Qatar, Morocco, Tunisia and India

Abu Dhabi, UAE - Abu Dhabi Investment House (ADIH)Abu Dhabi Investment House (ADIH)announced today the launch of its latest development concept, Style City, a USD7 billion project that will seek to attract international brand names in the style, design of fashion, jewellery, furniture and luxury living from both academic and retail aspects to create style and design hubs in select emerging markets.

The Style City concept will be implemented in Abu Dhabi, Qatar, Morocco, Tunisia and India, as part of MoUs ADIHADIH... signed this morning with major developments in these countries.

The first of its kind 'Style City' concept is a mixed-use development comprising residential and retail components while focusing on fashion and style.

The 'city' will feature a grand fashion district containing premium and luxury brands in the fashion, jewellery and interior design fields; an educational district containing institutions for the same, as well as museums and exhibition centres; as well as, a residential and a leisure district with town houses, studios, luxury villas, cafes, restaurants and renowned boutique hotels and spas.

Rashad Y Janahi, Managing Director and Board Member, ADIHADIH, said, "there is such a wealth of talented young designers in the region who are traditionally drawn to cities such as London, Paris, New York and Milan to develop their skills in these very competitive markets.

We want to help provide environments where the same people can nurture their chosen profession in the world of style, design and fashion but be given the chance to stay close to the markets and consumers they serve. This undoubtedly the dawn of a new era in fashion and design.'

The implementation of the concept is supported through strategic partnerships and MoUs with renowned and major institutions, will help establish Porta Moda, Style City's commercial brand name, within select countries.

Mr Rashad Y. Janahi, ADIHADIH Board Member and Managing Director signed an MOU with Dr. Hani Shammah - CEO - Emirates International Properties (EIP), the real estate arm of Emirates International Investment Company (EIIC) in order to create Porta Moda Abu Dhabi. EIP is a highly reputable real estate institution and its partnership with ADIHADIH - is testimony to the project's major potential success. Bank and Chairman - Burooj Real Estate Company

Mr Janahi also signed two MoUs with Mr Peter Panayiotou, Acting Chief Executive Officer at Gulf Finance House (GFH), one of the region's successful investment banks, to establish Porta Moda in GFH's North African successful developments that are under way in Morocco (the Royal Ranches, Marrakech) and in Tunisia. With the MoUs signed today, dedicated locations within these developments will feature Porta Moda to serve the surrounding communities.


The masterplannig of the Porta Modas around the world is being developed based on high international standards and on due-diligence to best serve the market segments targeted. The selection of destinations that 'Style City' will appear in comes as a result of studies that show flexible governmental regulations and the economic growth potential these countries enjoy. Moreover, study has also shown that young adults are moving towards studying aesthetics and arts. With Style City being within their geographic reach, they will be able to get their education at the hands of international talents and expertise.

Additionally, the real estate industry is booming within these countries - with growing populations representing an extremely big middle class consumer market, resulting in the inherent attraction of major multinational companies.

Built upon such a combination of factors, Style City presents an unprecedented investment opportunity for investors who are looking to diversify their portfolio by industry and region.
 

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Discussion Starter · #7 ·
Port financier de Tunis ' Kalaât Landalous'
Objectifs du projet
Le projet vise la création du premier groupement monétaire et financier intégré en Afrique.

Composantes du projet
La superficie du projet est estimée à 450 ha environ et la superficie couverte totale s’élèvera à 2,3 millions de m2.
Selon les études préliminaires proposées par l’investisseur, le projet sera composée :


d’un village financier et bancaire,
d’un centre de congrés,
d’une zone franche pour les entreprises spécialisées dans les activités de programmation financière, d’assurance et de comptabilité … totalement exportatrices,
d’une université spécialisée dans les filières financières,
d'une zone urbaine et de 2 hôtels de catégorie 5 étoiles,
d’un port de plaisance,
d’un terrain de golf.

Coût du projet

3,8 milliards US dollars, selon les études préliminaires élaborées par l’investisseur.

Investisseur
Beït Etamwil Al Khaliji.

Délai d’exécution

La réalisation du projet se déroulera sur 5 ans.
 

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Feu vert pour le mégaprojet du Port financier de Tunis

Le mégaprojet du Port financier de Tunis vient de franchir un important pas sur la voie de sa réalisation. Le conseil des ministres du 3 juillet 2008 a examiné le projet de loi portant création de Tunis Financial Harbour dans la zone de Hassiène relevant de la délégation de Raoued (banlieue nord de Tunis).


Le port, localisé à près de 25 minutes de l’Aéroport de Tunis Carthage, couvre une surface totale de 450 hectares. L’ouvrage s’articulera autour de quatre axes : un Corporate Center, un Centre d'Investissement Bancaire et de Conseil, et un Centre d'Assurance et de Takaful ainsi qu'un Centre de transactions.


Plus simplement, le port aura pour composantes : une marina, un complexe commercial et résidentiel de villas, des locaux commerciaux et bureaux professionnels, un golf et un stade. Le projet comprend également une Business School de classe internationale.

Gulf Finance House, l'une des banques islamiques leaders dans la région, va réaliser ce projet en investissant 3 milliards de dollars. Le groupe fait ainsi son entrée par la grande porte dans le club des gros investisseurs internationaux en Tunisie.

Pour les Tunisiens, Tunis Financial Harbour va contribuer de façon significative à soutenir l'économie tunisienne, et sera considéré comme un des éléments stratégiques de l'infrastructure économique en Tunisie.

Annoncé en grande pompe le 13 décembre 2007 à Tunis par le président du groupe, M. Esam Jenahi, le port financier de Tunis est calqué sur un projet de classe internationale similaire lancé par le même groupe à Bahreïn. Tunis Financial Harbour sera fin prêt d’ici 2010.

Ses promoteurs veulent utiliser cette success story annoncée pour conquérir l’Afrique du Nord. Le choix de la Tunisie a été décidé par des critères objectifs dignes d’économicistes. Ainsi, parmi les raisons qui ont forcé la décision du groupe, la capacité de la Tunisie à fournir des ressources humaines talentueuses, le niveau élevé des investissements dans l’enseignement supérieur par rapport au PIB, et la qualité de l’infrastructure et des télécommunications.

Pour la Tunisie, qui ambitionne légitimement de devenir un centre régional de services, ce port tombe à point nommé. Tunis Financial Harbour est appelé à devenir une composante stratégique de l’infrastructure économique du pays. La Tunisie pourra en tirer un grand bénéfice en développant ses services financiers off-shore et l’ensemble de ce secteur, à travers un centre financier international de portée mondiale.


Pour mémoire et pour comprendre le savoir-faire dont dispose Tunis Financial Harbour, il n’est pas inutile de rappeler que ce port a été créé par des leaders mondiaux et stratèges des services financiers et s’appuie sur des modèles d’affaires performants.

:banana::banana::banana::banana::banana:
 

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Ce n’est plus un secret, le projet de Golf Financing House du Port financier pour un investissement de 3 milliard DT, a reçu l’aval du conseil des ministres et des commissions du parlement, tunisiens. Une prochaine plénière, La Chambre des députés, puis celle des conseillers, devraient par la suite boucler d’ici fin juillet 2008 toutes les procédures de l’accord.

Entretemps, les services, du ministère des finances et de la Banque Centrale de Tunisie, s’affairent actuellement et mettent les dernières touches au cadre réglementaire régissant les activités financières off shore. C’est ainsi que la loi 85/108, régissant ces activités, devra être révisée pour s’adapter aux exigences des nouvelles activités financières que se propose d’introduire ce nouveau projet arabe de «Tunis Financial Harbour».

Basically the final text will be presented to the parliament before the end of this month.

On the other hand the tunisian financial legislation is getting updated for this project .

Translation : We should have the visit of M. Jaani for the Gulf finance House at the beginning of the month of August and most important the masterplan of the whole project !!!!!!!!!!!
:banana:
 

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Port Financier de Tunis : Les députés adoptent le projet presque sans le discuter


Le texte est adopté. Nous passons au projet suivant». A peine M. Fouad Mebazaa, président de la Chambre des députés a-t-il prononcé ces mots, lors de la séance du samedi 19 juillet 2008, qu’une bonne partie des députés présents –déjà relativement peu nombreux- se lèvent et quittent l’hémicycle. Comme si la discussion du projet de loi concernant le projet de «Port Financier de Tunis», promu par le bahreïni «Gulf Finance House» (GFH) ne les concernait pas.


Ce désintérêt va effectivement se confirmer plus tard lors du débat qui se limitera à l’intervention d’un seul député, là où plusieurs dizaines de députés étaient intervenus lors de la discussion du projet de loi ayant trait au projet d’aménagement du Lac Sud de Tunis par Sama Dubaï. M. Abdallah Chebbi, a pris la parole pour demander si le «Port Financier de Tunis» va effectivement permettre de donner du travail aux diplômés de l’université et quelles étaient les spécialités et les compétences demandées.

Ce à quoi M. Mohamed Nouri Jouini, ministre du Développement et de la Coopération internationale, répondra que ce projet, qui va être réalisé avec un investissement de 4 milliards de dinars sur cinq ans et générer 2 autres millions d’investissements par les opérateurs qui s’y installeront, va générer 15.000 emplois, dont une partie pour des spécialistes dans différentes disciplines de la finance.



Comme Sama Dubaï, GFH obtient gratuitement les 521 ha sur lesquels cet investisseur va édifier ce projet. Et bien qu’elle oblige les «contractants initiaux», c’est-à-dire l’Etat tunisien et GFH, ce dernier a été autorisé –«compte tenu des exigences de l’organisation financière de l’investissement »- à créer une société de droit tunisien qui se chargera de réaliser le projet dont GFH sera l’actionnaire de référence en y détenant une «participation importante d’au moins 51% du capital, pendant toute la durée de la réalisation du projet».



Cette situation pourra évoluer plus tard «en fonction de la convention de renouvellement» qui sera conclue entre les deux parties, puisque GFH pourra transmettre tous ses engagements à la société du projet «à l’exception de ceux dont la nature exige qu’ils continuent à être assurés par le contractant initial».



Comme dans le projet du Lac Sud, les engagements de l’Etat incluent celui d’amener les infrastructures jusqu’aux abords du site du «Port Financier de Tunis», dans des délais fixés «en tenant compte des capacités financières et techniques des services concernés».


De son côté, la société du projet se chargera de les prolonger à l’intérieur et de transmettre la propriété des infrastructures réalisées par ses soins à l’Etat, «à l’exception de celles dont la nature exige qu’elles restent à la disposition de la société».


La convention dispose également que des contrats de concessions pourront être conclues pour permettre à la société du projet où à ceux qui en dépendent d’exploiter des parcelles relevant de la propriété publique à l’intérieur du site du projet ou dans la mer avoisinante.


De même, la société du projet et les institutions opérant en son intérieur se sont vus accorder un «régime de change spécial, basé sur la souplesse, et conforme à l’orientation générale nationale évoluant vers la libération des opérations et des échanges internationaux».


Au chapitre des garanties accordées à l’investisseur, la convention prend en considération «les changements qui pourraient intervenir dans les données économiques sur lesquelles ses projections ont été effectuées» et lui accorde de ce fait «le droit de demander la modification de ses engagements (…) à chaque changement important et fondamental de ces données». L’investisseur pourra même demander la suspension de certains engagements, voire leur annulation lorsque «le cas de force majeure persiste pour une longue durée excédant les 180 jours». La convention peut même être annulée dans sa totalité si l’investisseur n’obtient pas réparation d’un grand préjudice occasionné par une initiative de l’Etat.

Pour sa part, l’Etat tunisien a obtenu de pouvoir faire contrôler les budgets et comptes de la société du projet par un cabinet d’audit international.
 

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In english :

New Tunis Financial Harbour
Tunisia’s parliament has backed a draft law for the creation of the $3billion Tunis Financial Harbour at Tunis Bay.

Initially announced late last year, and subject to approval from the country’s government, Bahrain’s Gulf Finance House (GFH) plans to build a large mixed-use project containing thousands of residential units, an investment banking and corporate centre, golf courses, schools and shops over a total built area of 521 hectares.

The project is expected to create 15,000 jobs and provide a substantial boost to Tunisia’s economy, with transport links updated to ferry potential tourists to Tunis Carthage airport, located 25 minutes away from the future site. GFH also plans to build a similar resort to the east in neighbouring Algeria.

The approval of the project by Tunisia’s government marks a significant policy shift towards attracting more foreign investment into the country that is keen to tap into the large amount of liquid investors pouring out of the neighbouring GCC region.

Earlier this year, Italian property giant the Ernesto Preatoni Group was given conditional approval to build a massive $15billion luxury high-end resort in the north-west of Tunisia, with an expected completion date of 12 years.
 

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Porta Moda wich will be part of the TUNIS FINANCIAL HARBOR . We should have some renders pretty soon !!!!!!






Kuwait Times (KRT) via NewsEdge Corporation :

Apr. 8--ABUDHABI: Abu Dhabi Investment House (ADIH) unveiled yesterday its latest development concept, Style City, an ambitious $7 billion project seeking to attract international brand names in the fields of style, fashion and luxury living. The Style City concept will be implemented in Abu Dhabi, Qatar, Morocco, Tunisia and India as part of a Memorandum of Understanding (MOUs) ADIH has signed with major industry players in these countries.

The first of its kind 'Style City' concept is a mixed-use development including residential and retail components while focusing on fashion and style," said Rashad Y Janahi, Managing director and board member, Abu Dhabi Investment House. The implementation of the concept is supported through strategic partnerships and MOUs with major institutions, which will help establish Porta Moda, Style City's commercial brand name in select countries, he said.

He was addressing a press conference at ShangriLa Hotel Abu Dhabi yesterday announcing the launch of the five major projects.

There is such a wealth of talented young designers in the region who are traditionally drawn to cities such as London, Paris, New York and Milan to develop their skills in these very competitive markets. We want to help provide environments where the same people can nurture their chosen profession in the world of style, design and fashion but be given the chance to stay close to the markets and consumers they serve. This undoubtedly is the dawn of a new era in fashion and design," Janahi said.

Earlier, Janahi signed an MOU with Dr Hani Shammah -- CEO -- Emirates International Properties (EIP), the real estate arm of Emirates International Investment Company (EIIC) in order to create Porta Moda Abu Dhabi. EIP is a well-known real estate institution.

Janahi also signed two MOUs with Peter Panayiotou, Acting Chief Executive Officer at Gulf Finance House (GFH), one of the region's successful investment banks, to establish Porta Moda in GFH's North African developments that are underway in Morocco (the Royal Ranches, Marrakech) and in Tunisia.
With the MOUs signed yesterday, dedicated locations within these developments will feature Porta Moda to serve the surrounding communities. We are the providers of two physical locations-one in Marrakesh and another in Tunis," said Panayitou. "We have 11,000 acres of land around Tunis Financial Harbor, " he told Kuwait Times adding " as a high-end project it is very complimenting.

Additionally, both Qatar Entertainment City and India Entertainment City have signed MOUs with ADIH to develop Porta Moda Qatar and Porta Moda India. The 'city' will feature a huge fashion district accommodating premium and luxury brands in the fields of fashion, jewelry and interior design. An educational district containing institutions as well as museums and exhibition centers, a residential and a leisure district with town houses, studios, luxury villas, cafes, restaurants and renowned boutique hotels and spas.

The masterplanning of the Porta Modas around the world is being developed based on high international standards and on due-diligence to best serve the market segments targeted," said Dr Joel A Katz, Chairman, Global Entertainment Group. The selection of destinations for 'Style City' comes as a result of studies that show flexible governmental regulations and the economic growth potential in these countries," Janahi said.






<<Kuwait Times (KRT) -- 04/09/08>>
 

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I think it´s great that a financial house sets up business in Tunis. According to The World Economic Forum, one of the greatest obstacles to economic development in the country is the lack of financial institutions. In a growing economy it´s absolutley essential to have acess to capital. So it could be that this new financial harbour could be the most important investment yet.
 

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Enseignement : Ok pour des universités étrangères en Tunisie


Les universités étrangères sont autorisées à s’implanter en Tunisie. Un décret a été signé, à cette fin, le 4 août par le président Ben Ali.


Principales nouveautés : les établissements universitaires qui désirent s’installer en Tunisie doivent disposer d’un capital minimum de 2 millions de dinars.


Leur participation au capital de l’université créée en Tunisie ne doit pas dépasser les 35%. La gestion de l’établissement sera confiée, dorénavant, à un manager professionnel qui ne serait pas, nécessairement, comme c’était le cas auparavant, un universitaire (maître assistant). La nouvelle législation accorde 2 ans aux universités privées existantes, pour s’adapter à ces nouvelles conditions (une véritable besogne apparemment).


La première université étrangère, qui attend avec impatience ce projet, serait l’Université Paris IX (Dauphine). Annoncée à plusieurs reprises par l’ambassadeur de France, Serge Degallaix, l’Université Tunis-Dauphine (UTD) ouvrirait ses portes l’année prochaine (2009-2010).


Les mégaprojets d’immobiliers économiques et financiers tels que «le port financier de Tunis» de la banque islamique Gulf Finance House et le Portail de la Méditerranée du groupe Sama Dubaï ont pour composantes des universités de taille internationale.
 
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