Dubai
Gulf Finance House (GFH) said on Tuesday its Tunis bay project is nearing completion of infrastructure works on the first and second phases of the Tunis Financial Harbour (TFH).
It is estimated that the aggregate final development value of the TFH project will reach $3 billion (Dh11.01 billion) and extends over 523 acres in the coastal area of Hessiene, Ariana in Tunis. The project is being developed in four interrelated phases with each phase having its unique components, the GFH said in a statement posted on the Dubai Financial Market website.
Phase one comprises the financial and commercial zones in addition to residential and recreational areas including an 18‐hole world championship golf course located over 80 hectares. The second phase consists of the marina area in addition to the financial and residential zones. Phase three of the project consists mainly of a medical city, residential units, villas and a resort. The fourth phase is designed to house educational facilities, the company said.
TFH will house a financial district that is expected to attract large number of leading financial institutions, investment banking, insurance companies, and other supporting services, it added. The event coincided with the gathering of world leaders at the Tunisia 2020 International Forum for Investment, where up to $14 billion in aid has been announced by Arab and European countries to support the economy of Tunisia and accordingly major projects in the country.
