Dar Al Arkan launches villa sales for $133m Bosnian luxury destination
500,000sqm development is the largest single real estate project in Bosnia
Dar Al Arkan, the Saudi developer, has launched sales for villas within its $133 million luxury vacation and housing development in Bosnia.
According to a statement released by the developer, the 500,000sqm development – known as Sidra – will be surrounded by 20,000 native trees and is the largest single real estate project in the European nation. It will offer a gated community of high-specification villas that have been designed for modern living, in an area classified as one of the healthiest and cleanest in the Balkans.
Announcing the sales launch, Chairman 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,” he noted.
The Saudi developer added that Sidra offers the opportunity to own a second home in a community that is 35 minutes away from Sarajevo, Bosnia’s capital. The development is connected to the main travel links to and from the capital, while public transportation is available the neighbouring town of Nišići. Sidra is also strategically located to a wide range of attractions, from natural caves, rivers, natural reserves and parks, rocky massifs to different sports activities, it said.
Work will begin on site this summer with the infrastructure and clubhouse with completion planned within 36 months. Potential buyers will be invited to select their preferred site and choose their model of villa from a range of options.
Emir Ferovic, the Director of Operations of Real Engineering & Consulting company, who is managing the design and execution of the project, said: “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.”
“Sidra will be a wonderful sanctuary for those wishing to relax within a private, gated community surrounded by luxury facilities and services,” he stated.
Facilities on-site will include a clubhouse, café, supermarket, gym, spa, children’s playground and a 5-star boutique hotel, he added.
