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Tunis Financial Harbour plans to tender work.

(Date: Sunday, January 08, 2012 )

Gulf Finance House (GFH), the Bahrain-based Islamic investment bank, has announced that its Tunis Financial Harbour (TFH) project has begun the prequalification process for prospective contractors.

This follows an announcement by the Government of Tunisia to allocate TD 50 million ($32.9 million) for the completion of major infrastructure works related to access and roads to TFH, said a statement.

TFH will be North Africa's first offshore financial centre and is expected to positively impact the economy of Tunisia by turning it into a financial hub, thereby attracting large investments and creating many job opportunities, it said.

The project's masterplan has already been approved by the government and it is set to be built in the Rawad Area.

To complement the commercial aspects of the initiative, a variety of residential and leisure facilities including a marina, a residential complex with luxurious villas and an 18-hole championship golf course are included in the master plan.

Hisham Alrayes, chief investment officer of GFH, said: "Though this project has been somewhat delayed from the original project schedule, the wheels are once again moving on TFH and we are fully geared up to commence tendering for the project's infrastructure work as soon as the Tunisian Government gives us the go-ahead.

"We are currently also looking at partnerships with reputable institutions and developers to develop the project's clusters to accelerate our client's investments. We are also looking at further injections of investments into the project." - TradeArabia News Service

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Publication:TradeArabia (Manama, Bahrain)
Date:Jan 8, 2012
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