New Look for Tunis

Posted March 17th, 2008 by salma

"The Century City" project in Tunisia is a joint investment of Sama Dubai, the property unit of Dubai Holding, and the Tunisian government. It is a $14 billion luxury real estate development north of Tunis, known by some as "The Century City".

The project was unveiled by Prime Minister of the United Arab Emirates Shaikh Mohammed bin Rashid Al Maktoum and Tunisian President Zain Al Abdeen bin Ali on August 6, 2007 and will include apartments, theaters, cinemas, offices and hotels covering 837 hectares (2,092 acres). It will also house the headquarters of some 2,500 international financial firms and companies in addition to 14 hotels with exercise and entertainment facilities.

Tunisia is eager to increase foreign investment to spur growth and cut the unemployment rate, which is officially at 14.3 percent.

The government-owned Dubai Holding expects to raise foreign investment in Tunisia to $18 billion from the current $3 billion.

It is estimated that the 10,000 new homes built will house 50,000 residents. The new neighborhood is also expected to attract tens of thousands of visitor each day for tourism and entertainment. Artists' renditions of the new neighborhood are included below.

Is North Tunis going to be a Little Dubai?

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