Tunis Bay Financial Harbour Project Company signs land purchase agreement for TFH
Tunis Bay Financial Harbour (TBFH) Project Company, the project development company responsible for the development of the Tunis Financial Harbour (TFH) announced today that it has signed a purchase agreement for the land to build the project.
The land purchase agreement was signed at the Ministry of Public Domains and Real Estate Affairs during a land transfer agreement ceremony signed between His Excellency Mr. Ridha Gueirira, Tunisian Minister of Public Domains and Real Estate Affairs and Dr. Esam Janahi, Chairman of Tunis Bay Financial Harbour Project Company. The agreement was signed after all requirements were met, including the establishment of a project company in Tunis, completing the framework for a financial services sector and finalizing the project master plan.
During the ceremony Dr. Janahi also announced the appointment of SCET, the leading Tunisian multi-disciplinary engineering company as the infrastructure project managers of the initiative and STUDI Group, a Tunisian engineering consultancy to undertake the infrastructure design for the whole project.
Commenting on the land transfer agreement and the consultants appointments, Dr. Janahi said, “The Government of Tunisia have provided us with wholehearted support and must be credited for much of the progress made so far on the Tunis Financial Harbour initiative. The signing of the land purchase agreement and appointment of the consultants signals the commencement of the implementation phase of the project. TFH will represent North Africa's first sustainable offshore banking hub, harnessing the impressive economic potential within the Tunisian economy and sponsor socio-economic growth for generations to come."
"We are confident that the appointment of leading Tunisian engineering firms, SCET and STUDI Group will bring the required global expertise and local knowledge to build a world class infrastructure on which TFH will be developed.”
“The designs for the project’s entire infrastructure are expected to be completed by June 2010 after which the development of the project will commence in September of that year,” he continued. “Activities in the initial stages will focus on building the framework components of the project.”
Situated in Tunis Bay, Tunis Financial Harbour (TFH) is the brainchild of leading Middle Eastern Islamic investment bank Gulf Finance House (GFH) and will play host to some of the world’s leading names in finance, advisory and support services at a strategic crossroads between the European, North African and Middle Eastern markets.