28-Story Tower Reshapes Tunis's Luxury Property Market Landscape

Construction has formally begun on a 28-storey residential tower on Avenue Habib Bougatfa in Les Berges du Lac 2, according to planning documentation filed with the Tunis municipality in late June 2026. The project, being developed by a private real estate consortium under a permit approved by the Agence Foncière d'Habitation, will deliver an estimated 186 apartments across studio, two-bedroom, and three-bedroom configurations, with completion targeted for the fourth quarter of 2028.

The timing matters. Tunis has spent the better part of three years absorbing the aftershocks of a tight credit environment, with mortgage lending constrained and mid-market buyers increasingly priced out of established neighbourhoods. Against that backdrop, a tower of this scale in Lac 2, the district that has absorbed much of the capital's high-end commercial and diplomatic activity since the early 2000s, signals that developer confidence has returned, even if buyer affordability has not fully recovered.

What the Project Adds to an Already Pressured Market

Les Berges du Lac 2 currently commands some of the highest residential asking prices in greater Tunis. Listings tracked through Mubawab Tunisia in the first half of 2026 show two-bedroom apartments in the district averaging between 450,000 and 620,000 Tunisian dinars, depending on floor level and finish quality. The new tower's developer has not yet published official pricing, but comparable new-build product nearby has launched at roughly 3,200 dinars per square metre for standard units, rising above 4,000 dinars for upper-floor finishes with lake-facing views.

That price bracket puts the development firmly in a segment where demand exists but closes slowly. Buyers at this level are typically Tunisian diaspora investors, senior private-sector professionals, and a smaller cohort of foreign residents attached to embassies or multinational firms concentrated along Avenue de la Bourse and Rue du Lac Biwa. Pre-sales activity in Lac 2 has historically been modest in the first twelve months of a project launch before accelerating as structural work becomes visible, a pattern that worked in favour of developers on similar projects near the Jardins de Carthage axis in 2022 and 2023.

The project is not operating in isolation. The Société de Promotion du Lac de Tunis, which oversees land-use planning across the Lac district, approved revised height guidelines for a specific corridor along Avenue Bougatfa in late 2024, enabling towers above twenty floors for the first time in that micro-zone. The current project is the first to exploit that revised envelope, meaning it is unlikely to be the last.

Spillover Effects on Surrounding Neighbourhoods

Developers and agents are already watching what effect the tower's launch has on adjacent markets. El Menzah 6, roughly eight kilometres west along the urban motorway, and the established residential streets around Avenue Kheireddine Pacha in La Marsa have both seen incremental price pressure over the past eighteen months as buyers unable to access Lac 2 pricing shift their searches outward. A sustained new-build push in Lac 2 could accelerate that displacement or, alternatively, draw speculative demand away from those secondary zones if the tower's payment-plan terms prove flexible enough.

The Chambre Nationale des Promoteurs Immobiliers has noted publicly, without providing specific figures, that the proportion of residential launches offering staggered payment schedules linked to construction milestones has grown considerably since 2023. The Bougatfa tower is expected to follow that model, with a reported 30 percent deposit structure and quarterly instalments tied to verified construction phases, though formal commercial terms have not yet been released.

For buyers actively looking in Tunis right now, the practical calculation is straightforward: if your budget sits between 380,000 and 500,000 dinars, this project will not be your entry point, but its launch will put gentle upward pressure on resale stock in Lac 1 and El Menzah 9 as sellers benchmark against new-build aspirational pricing. Watch the official launch event, expected before the end of July 2026, for the pricing grid and floor plan release, that is when the market will get a clearer read on whether developer ambition and buyer appetite are genuinely aligned this cycle.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.