Tunisian Group Loukil and Chinese bank ICBC to build Africa’s biggest mall for $120M
(Ecofin Agency) - Tunisian Group Loukil and Industrial and Commercial Bank of China (ICBC) will build in Raoued, Tunis suburb, Africa’s biggest mall, the Tunisia Africa Mall.
Partnership agreement for the project was signed last Friday, July 7th, on the sidelines of the recent Tunisia-China forum held in Tunis.
The project whose cost has been estimated at $120 million will be fully funded by ICBC. It will include a shopping centre valued at $65 million, a business centre and a hotel, both expected to cost $55 million.
According to the Loukil Group’s CEO, Bassem Loukil, “Tunisia Africa Mall will be built over 200,000 m2 (100,000 m2 for shopping, leisure areas and restaurants, and 95,000 m2 for undergroung car park). There is also a business centre and the five-star hotel. The latter will be integrated to the Tunisia Financial Harbour, which will be established in a State-declared offshore area located in the Raoued region”.
Construction works for the Tunisia Africa Mall are expected to begin in the fourth quarter of this year and should create at least 600 direct jobs.