By Akanimo Sampson
A Saudi developer, Dar Al Arkan, has released its new $133 million luxury vacation and housing development in Bosnia for sale. The project offers the opportunity to own a second home within the heart of Europe, the company said, adding that work will begin on site this summer.
The development, according to ArabianBusiness, will incorporate contemporary villas inspired by local architecture as well as a clubhouse, café, supermarket, gym, spa, children’s playground and a five-star boutique hotel.
Dar Al Arkan said the infrastructure and clubhouse is scheduled for completion within 36 months, adding that potential buyers will be invited to select their preferred site and choose their model of villa from a range of options.
Named Sidra, meaning life among the forests, the 500,000 sq m development will be surrounded by 20,000 native trees and is the largest single real estate project in Bosnia.
It will offer a gated community of high-spec villas in an area classified as one of the healthiest and cleanest in the Balkans.
Chairman of Dar Al Arkan, Yousef Bin Abdullah Al Shalash, said: “We are proud that Saudi local brands can go overseas and compete effectively and spread the name of Saudi Arabia.
“After launching our project in Dubai, we are now expanding into Bosnia which presents a golden opportunity to purchase a piece of prime real estate in a highly desirable European destination and we believe it will attract Bosnian, Saudi and international investors. We are delighted to collaborate with local Bosnian architects, consultants and contractors on this project.
“We also applaud the swift government granting of licenses to start the project, which also demonstrates Bosnia’s desire to attract foreign investors.”
Emir Ferovic, director of operations of real engineering & consulting company, who is managing the design and execution of the project, added: “Bosnia is a cultural destination which combines history, a Mediterranean climate and a stunning natural environment with excellent links to the rest of Europe. It is rapidly growing in popularity and this development provides the perfect investment for those wishing to be part of the country’s developing luxury tourism and hospitality sector.”
