Two key developments have just marked the implementation of Tunis Financial Harbour project: the signing of the contract of sale of the plot of land dedicated to the construction of the project infrastructure and the choice of two Tunisian consulting firms among large international firms. Both announcements were made by Issam Jenahi, President of the Board of Directors of GFH Group, during a press conference held, Wednesday afternoon, in Tunis.
The two consulting firms are the SCET and STUDI selected following a process imbued with fierce competition involving renowned international consulting firms. The contract amount is 15 million dollars for the SCET and 14 million for the STUDI.
The contract of the plot of land sale was signed on Wednesday by Minister of Public Property and Land Affairs Ridha Grira and Issam Jenahi, after GFH Group having satisfied all the conditions stipulated by the investment agreement, namely the setting up of the company responsible for the project implementation in Tunisia, the completion of devices for banking activities and the approval of master plan.
Referring to these major steps of the project, Issam Jenahi said that the Tunisian government has provided to its Group all possible support paving the way for effective implementation of the project that is the first offshore banking center in North Africa.
SCET and STUDI hit the jackpot
The President of GFH has focused on the choice of the two Tunisian consulting firms that are among the largest and leaders in the field, a choice which combines international expertise and local skills and mastery, both required for the building of infrastructure that meets international standards and those of Tunis Financial Harbour, as it highlights the confidence in the Tunisian skills and know-how.
Issam Jehan announced that the patterns of implementation of infrastructure throughout the whole site will be ready in June 2010, marking the start of work of the integral development of the project three months later, i.e. in September 2010.
Emphasis will be placed on the structural components of the project as a first step, namely roads, and different power, water and gas networks as well as the golf course, the marina and the financial center which is the backbone of the project, being noted that the project covers a total area of 523 hectares.
The whole project will be ready and operational within a period estimated at 7 years. However, marketing to buyers is due to start much earlier as part of a strategy developed jointly with the Central Bank of Tunisia.
The Tunis Financial Harbour is an innovative and pioneering initiative of GFH, the leading Islamic investment bank in the Middle East. It will house the biggest investment firms in the world thanks to its excellent geographical location at the crossroads of European markets, and those of North Africa and Middle East.
This project is of major importance particularly in view of its positive impact on the country’s economic dynamics through the creation of jobs and the development of the capital markets it generates which is likely to enhance the role of Tunisia as an influential financial, investment, and tourist pole in its regional and international environment.