Damac chairman discusses Croatian investment opportunities

Hussain Sajwani meets with Croatian president during visit to Zagreb

Hussain Sajwani, the chairman of Dubai’s Damac International, has discussed tourism investment opportunities in Croatia with Kolinda Grabar-Kitarović, president of Croatia, during a visit to Zagreb.

The meeting followed a tour of the country by Sajwani, who visited a number of cities along Croatia’s Adriatic coast, which receives large numbers of tourists every year.

The European country has become a major tourist destination, in part thanks to its scenic coastline along the Adriatic Sea. Travel and tourism are key contributors to its GDP, accounting for 10.1% in 2016, according to the World Economic Forum’s Travel and Tourism Competitiveness Report 2017.

“It was a pleasure meeting with President Grabar-Kitarović. We discussed the many investment opportunities that Croatia presents, as it continues to become a hot spot for tourists from all over the world, while providing a business-friendly environment that is attractive to foreign companies,” said Sajwani in a statement released by Damac.

“Croatia offers a wide range of travel options that present numerous investment prospects in sectors like coastal residential development, hospitality, leisure, sports and entertainment, as well services targeting inbound visitors.

“Its ability to continue to attract increasing visitor numbers demonstrates the country’s appeal to a broader traveller base by providing unique experiences, as well as a stable political, economic and social setting that encourages foreign direct investment.”

The developer has explored a number of expansion opportunities in gateway cities and travel destinations across Europe, following the success of its 50-storey Aykon London One residential development in the UK, which has already pre-sold more than 45% of its units, the statement added.

In June, Damac was chosen by the Government of Oman to redevelop its Port Sultan Qaboos in Muscat, a historic $1 billion master development project, which will see the existing port transformed into an integrated tourist and lifestyle destination. The project will include the development of hotels, residences, dining and retail options.

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