The North African country of Tunisia is a growing market for international real estate investors and is attracting attention from across the globe. Much like neighbours Morocco and Egypt, this country has plenty of Mediterranean coastline, great year round weather and a number of new developments. It has much to offer those who are looking for a place to invest in property.
Tunisia’s economy is based around tourism, agriculture, energy and mining. The country has benefited significantly from its 1998 trade agreement with the European Union, and in 2007, Tunisia’s economy grew by 6.2 %. Tourism to the country brought more than 7 million visitors last year, and the government is now working to increase the investment potential of the country, slowly opening the market and allowing more liberal rules.
The capital city of Tunis is seeing a range of new buildings and developments, led by multinational companies who are starting to realize the potential of the country. There are a number of new property developments that are under way and in the works to go along with the growing economy and business sector. Many of these new properties are being led by Middle East and Gulf firms that have been working in the booming property sectors of Dubai, the rest of the UAE and Egypt.
Some of the new properties include a $14 billion US development called Century City and Mediterranean Gate. The plans include transforming more than 2,000 acres of land into a satellite city that will house more than 2,500 firms, retail and recreation centers, 14 luxury hotels and residential properties. There is also Tunis Sports City with an 18 hole golf course, residential villages, swimming pools and gyms. And there is more on the way for those interested in this North African gateway.
