Tunis Bay Financial Harbour Project Company, the company responsible for the development of the Tunis Financial Harbour, has signed a purchase agreement for the land to build the project.

The agreement was signed on 29 December between Ridha Gueirira, Tunisia’s Minister of Public Domains & Real Estate Affairs, and Esam Janahi, chairman of Tunis Bay Financial Harbour Project Company.

The project company has also appointed local engineering firm SCET as the infrastructure project managers and the local Studi Group to undertake the infrastructure design.

The Tunis Financial Harbour is being positioned as an offshore banking hub and is backed by Bahrain-based Gulf Finance House.

It will have four distincts, including an investment banking and advisory centre, a corporate centre, an insurance hub and an international financial exchange. A business school will also be built alongside these areas, along with residential and leisure facilities.

According to Janahi, the design work should be completed by June 2010, with further development work to follow in September.