Sama Dubai, the property unit of Dubai Holding, has begun work on Tunisia’s biggest investment project, a $25 billion real estate development expected to create 350,000 jobs, a senior executive said.
“Today we announce the start of work on the first stage of the ‘Mediterranean Gate’ project which includes 16 buildings worth $1 billion,” Farhan Faraidooni, executive chairman said on Thursday.
Tunisia has struggled to lure investment and accelerate economic growth to levels at which 88,000 youngsters can find work.
Sama Dubai’s Tunis project will create 350,000 jobs, Faraidooni said.
Tunisia is trying to match Morocco’s success in luring Gulf petrodollars into high-profile tourism and real estate projects.
Source: Gulf News