The partnership agreement to build the Tunisia Africa Mall between Tunisian Group Loukil and the Industrial and Commercial Bank of China (ICBC) was signed last Friday, July 7th as construction is expected to begin this year.
The Tunisia Africa Mall, which will be built in Raoued, on the outskirts of Tunis, is expected to become Africa’s biggest mall. According to Group Loukil’s CEO Basesem Loukil, construction will start later this year on a 200,000 m² area that will encompass 100,000 m² for shopping, leisure and restaurants and a 95,000 m² underground car park.
The mall will also include a five star hotel and a business forum within the area where the Tunisian government plans to create an offshore financial city, the Tunisian Financial Harbour.
The cost of the Tunisia Africa Mall is expected to reach $120 million and will be fully financed by the ICBC. The shopping mall will take the largest part of the investment, while the business centre and the hotel are anticipated to jointly cost $55 million.
The agreement was signed during the fifth Tunis Forum which this year was focused on the country’s relations with China. Apart from the ICBC financing, the mall will be entirely built China State Construction Engineering Corp with which an agreement was also signed during the forum.
