MIT Enterprise Forum Pan Arab
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Arije elMédina

Arije elMédina

Tunisia

Competition

Competition

Track

Track

BloomMasters 2017

Social Entrepreneurship Track



Competition

BloomMasters 2017: Social Entrepreneurship Track

Description

Challenges: the Medina of Sfax a threatened heritage - The Medina of Sfax with an area of 24 hectares, 400 m wide and 600 m long is the historical center of the city of Sfax. Founded in the 9th century on a hill by the sea by the Aghlabids. Formerly the residential winter center of the inhabitants of Sfax and the commercial center of the city, the Medina has experienced a gradual deterioration over the last 30 years which has accelerated during the last decade due to: - Departure of its original inhabitants to settle in the residential suburbs. - Competition of the commercial activities of BabBhar and especially of Sfax Eljadida. - The first two phenomena have led to the fall in property prices attracting a new poor population and favoring the development of shoe manufacturing shops. - Deterioration of the old building. - Deterioration of the environment. - Development of insecurity The Project: Arije El Medina is a public limited company whose aim is to invest in the Medina of Sfax. Its objectives are articulated around: - Saving what can be the heritage of the city - Developing projects to enhance their heritage - Bringing citizens back to the Medina - Create positive emulations - Enhancing Intangible Heritage Arije El Medina is not a non-profit organization. It invests for a long-term return on investment while respecting its objectives. Arije El Medina plans to raise 5 million dinars by successive capital increases in order to: - Acquire valuable property in the medina and restore it. - Acquire bare ground or ruins in order to launch new projects respecting the spirit of the Medina, - Launching, either by itself or through third parties, of projects allowing the valuation of property acquired or leased. Among the ideas for valorization projects: - Tours. - Gourmet Restaurants - Guest houses. - Luxury shops. - Craftsmen's Center - Wellness centers. - Cultural cafés. - Business Center (exhibition, seminar, training, etc.) - Training center in Arabic for foreigners. - Residence for students. - Etc The Governance :  Arije El Medina is managed by a 7 member board of directors.  with a separation of the roles of the president and the director general  a double signature for all payments.  the board of directors validates all the investment shares (purchases, sales, etc.) and all valuation projects (operation + 5000dt and depenses + 3000dt)  Arije El Medina is governed by a shareholders' agreement defining the rules for the entry and exit of shareholders, the valuation rules, the dividend distribution rules  Arije El Medina does not intend to distribute dividends during the first 3 years.  shareholder ceiling (including shareholder selling): 5%, thus avoiding any hegemony  The nominal price is 1000 dinars. A shareholder must acquire at least 100 ie a minimum stake of 10,000 dinars  shareholder seller: pass through CA + 2 months of pre-emption for shareholders  no attendance tokens for the CA  DG: Volunteer for the 1st year  sale / mortgage: obligation AG  valuation of the company: -a 1st year: nominal -b beyond: designation of the turnover to 2/3 of a public accountantie a minimum stake of 10,000 dinars  shareholder seller: pass through CA + 2 months of pre-emption for shareholders  no attendance tokens for the CA  DG: Volunteer for the 1st year  sale / mortgage: obligation AG  valuation of the company: -a 1st year: nominal -b beyond: designation of the turnover to 2/3 of a public accountant

Team members

Mourad Fendri
Amin Sellami
Mehdi Charfi
Imed Ayadi
Sami Sellami
ABDELJALIL GDOURA