$103mn American University planned at Tunis Financial Harbor.

Bahrain-based financial group GFH and Tunis Financial Harbor (TFH) has recently announced that three leading US universities have agreed to establish a new USD 103 million American University at the Tunis Financial Harbor.

The project will see US-based Clayton State University, Savannah State University and Michigan State University collaborating with local Tunisian university, University Montplaisir for the development of campus spanning 50,000 square meters of land.

The work on the university buildings is scheduled to start in 2017 with an expected completion date of 2020. On completion, the university aims to offer courses in Economics, Engineering, Medicine, Pharmaceuticals and more.

The project will be financed by the participating universities as well as a group of local banks and individual investors, according to a media statement issued by the company.

Commenting, Mr. Lotfi Ezzar, CEO of Tunis Bay Project Company, said: 'The establishment of this top tier university in Tunis will support efforts to further diversify the economy, build on the country's strong foundations and create jobs and opportunities for Tunisians and others across the region.

The TFH is a USD 3 billion mixed-use development, which was launched in 2008. It will offer a mix of residential and retail spaces. In addition, the development will offer a golf course, a beach community, souk, hotels, financial centers, marinas and educational facilities. TSH It is being built across 5.2 million square meters and is located 25 kilometers from the north of Tunis and 15 kilometers from the Carthage International Airport.


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