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FINANCIAL NEWS
Bahrain’s GFH vows to set up USD3b Tunis Financial Harbour
08 Oct 2012
(MENAFN) Bahrain’s Gulf Finance House’s (GFH) acting CEO, Hisham Alrayes, stated that the company is determined to carry on its plans to set up the USD3 billion Tunis Financial Harbour (TFH), reported Arabian Business.
Alrayes said that in 2009, the firm inked a deal to acquire the land needed for the construction of the project, which will be Tunisia’s first offshore financial center.
The project will consist of 4 business clusters, including investment banking and advisory center, a corporate center, a Takaful/insurance hub and the region’s first international financial exchange.
Furthermore, there will be various residential and leisure facilities, such as a marina, a residential complex and an 18-hole championship golf course, with plans to focus initially on completing work on the retail district, golf course, show villas and residential units.
It is worth noting that TFH is expected to draw local, regional and international banks and financial institutions, in addition to key regional Islamic banks and Islamic Investment Funds.
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