Sama's $25bn Tunisia project approved

MEGA-PROJECT: The Mediterranean Gate is being built in Tunisia's capital Tunis (pictured). (Getty Images)

The government of Tunisia has approved the master plan for a $25 billion real estate project being developed in partnership with Sama Dubai, the developer said on Monday.

The 873-hectare Mediterranean Gate project, located in the country’s capital Tunis, is aimed at turning the North African country into an attractive destination for African and European investors and tourists, as well as a regional hub for technology, finance and business.

It is hoped the development, which will take 15 years to complete, will house around 2,500 international firms and create around 350,000 jobs.

“The official approval of the master plan for Mediterranean Gate will allow us to move forward with the execution of the project according to our scheduled timeline,” Farhan Faraidooni, executive chairman of Sama Dubai, said in a statement.

Sama Dubai said infrastructure work on the project started in December last year.

The company also said it is in the process of setting up an office in Tunis and that the sales office will open in late October.

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