The “Costa-Coralis” project, valued at an estimated 2 billion dinars and intended to transform northwestern Tunisia, remains stalled despite interest expressed by several investors and financial institutions.
Located in Tabarka, near the Algerian border, the megaproject aims to turn the region into an integrated tourism, cultural, and economic hub. Conceived in 2016 and officially entrusted in 2019 to Haifa for Development and Investment (Haifa HDI), it covers 140 hectares and, according to its promoters, could generate more than 12,000 direct and indirect jobs.
Saadallah Khalfaoui, a representative of the Tunisian Union of Industry, Trade and Handicrafts (UTICA) in Jendouba, estimates that “Costa-Coralis” could increase regional GDP by 5 percent, with 2.1 percent expected in the first phase. The project is presented as a multisector growth driver, boosting not only tourism but also agriculture, local industry, and services.
Initial contacts with investors confirmed interest from both the private sector and institutions. The Caisse des Dépôts et Consignations (CDC) has given preliminary approval to acquire 20 percent of the project company’s capital, while several national and foreign partners have signed letters of intent covering hospitality, healthcare, sustainable mobility, and infrastructure.
Yet despite these commitments, work has yet to begin. Haifa HDI CEO Faouzi Redissi noted that under the law, the state could reclaim the land if the project is not launched within a maximum of five years.
“We have followed up with investors to confirm their commitments. Their response is expected soon,” he said.
The delay has fueled both hope and concern in a region struggling with unemployment, rural exodus, and limited economic prospects. For residents, “Costa-Coralis” represents more than just a construction site — it symbolises the potential for a decisive turning point in the development of northwestern Tunisia.
MK/ac/sf/lb/as/APA