Emaar to develop $1.88b Tunisia property project

Dubai: Emaar Properties PJSC, the world's number one property developer, on Saturday said it will develop a Dh6.7 billion ($1.88 billion) project Marina Al Qussor on Tunisia's eastern coastline.

The 442-hectare Marina development is located in the county of Sousse towards the southern end of the Golfe de Hammamet and will offer a mix of living options and tourist attractions with a large Marina Village at its centre.

At a ceremony in the capital Tunis yesterday, Emaar chairman Mohammad Ali Al Abbar presented the high profile project to Tunisian President Zine Al Abidine Ben Ali.

The project will add a premier tourist destination on the southern shores of the Mediterranean away from the big-city hustle and bustle and yet be located close to Tunisia's key cultural sites for tourists to explore.

"Tunisia is a country rich in heritage and we look forward to the opportunity of adding to its world class attractions with the development of Marina Al Qussor. This project is a timely addition to Tunisia's thriving tourism industry which has been attracting the world's attention," Al Abbar said.

"Yesterday's presentation sees us looking at other parts of North Africa for the development of our master planned communities and lifestyle options that have become synonymous with Emaar. With its thriving tourism industry, Tunisia is a significant market for Emaar to roll out such communities that offer everything from a thriving resort atmosphere to a quiet retreat."

Emaar's Marina Al Qusoor development is in line with Tunisia's tourism policy which is currently focused on residence tourism which enables high end tourists to buy homes in areas with beautiful landscapes for longer stays.

The country attracted 6.4 million tourists in 2005 and is aiming for tourism revenue of close to $2 billion in 2006.

The various compon-ents of Marina Al Qussor comprise more than 4,000 residential units with villas, townhouses and apartments located on the lakeside, beach, marina and quayside; six hotels ranging from luxury boutique to four star located on the beach and marina; leisure facilities with the marina, yacht club, beach clubs, spa resort, sports club, 18-hole golf course, clubhouse, driving range; and retail space located on the marina and quayside.

With joint ventures and projects covering Morocco, Saudi Arabia, Turkey, Syria, Egypt, India, Pakistan and now Tunisia, Emaar is taking its winning formula first conceived in its home base Dubai to the rest of the world.