Bahrain's GFH says $3bn Tunis project infrastructure nearing completion

GFH Financial Group gives construction update on Tunis Financial Harbour, being developed in four phases
Bahrain's GFH says $3bn Tunis project infrastructure nearing completion
An artists impression of the Tunis Financial Harbour.
By Staff writer
Tue 20 Dec 2016 01:56 PM

The Tunis Bay Project Company, a project of Bahrain-based GFH Financial Group, has announced that infrastructure works on the first and second phases of the $3 billion Tunis Financial Harbour (TFH) is nearing completion.

The project will extend over 523 acres in the coastal area of Hessiene, Ariana in Tunis and is being developed in four phases with each phase having its unique components.

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 while phase three includes a medical city, residential units, villas, and a resort. The fourth phase is designed to house educational facilities.

Hisham Al Rayes, CEO of GFH Financial Group, said: “We are delighted to announce the extension of infrastructure work at Tunis Financial Harbour, another iconic project of GFH. We see the project being a premier destination in Tunisia, offering world-class infrastructure with  financial, commercial and touristic components that set new standards in the local market and creating significant value for GFH in Tunisia.

"We are pleased that our investment and the project will be contributing positively to the development of the Tunisian economy and enhancing its position as a key financial hub in North Africa.”

Tunis Financial Harbour will house a financial district that is expected to attract large number of leading financial institutions, investment banking, insurance companies, and other supporting services.

Al Rayes said the project will create an important financial hub for financial and banking activities in North Africa, thus supporting the development of the Tunisian economy through job creation, inward investment, and the further development of the capital markets.

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