Leading Saudi developer Dar Al Arkan has started work on its first European luxury residential project, Sidra, its exclusive vacation and housing project in Bosnia.
Sidra (meaning life among forests), covers an area of 500,000 sq m, making it the largest single real estate project in Balkan nation.
Surrounded by 20,000 native trees, the SR500 million ($133 million) project will offer a gated community of high-specifications villas and residential plots designed for modern living, in an area classified as one of the healthiest and cleanest in the Balkans, it stated.
In addition to a variety of residential options, Sidra will feature first-class amenities, restaurants and cafes, shops and supermarkets, a community mosque, a clubhouse, and a five-star hotel.
It is also strategically located to a wide range of attractions including natural caves, rivers, and natural reserves and parks making it the perfect home away from home.
Dar Al Arkan said Sidra project promises homeowners the opportunity to own a second home "in a haven of peace and tranquility" in a country that is rapidly becoming the top destination for investment and vacations right in the heart of Europe.
As development plans move ahead, the company has recently awarded Cestotehnik d.o.o Tuzla in Bosnia the contract for the execution of full infrastructure and roads works for the whole master plan. The work is expected to be completed in 18 months and will pave the way for the next stages of the real-estate project.
Dar Al Arkan Properties Vice Chairman Ziad El Chaar said: "We are very adamant about moving forward and remaining on track with our development plans for Sidra. We’re also very fortunate to have gained the trust of the Ministry of Public Works to deliver the project based on the highest of standards in collaboration with skilled local partners."
"As a Saudi company, Dar Al Arkan is eager to create deeper ties to the real-estate and construction sectors and support local and international investment opportunities as drivers of economic growth in Bosnia," he noted.
According to him, Bosnia’s unique Western and Eastern influences give the country its competitive edge. "It’s in a prime position to continue to grow economically, especially with the continued reforms that are increasingly facilitating foreign investment across many sectors," he stated.
Dar Al Arkan’s exclusive project will further position Bosnia as an attractive property investment location by showcasing the high-standards and strict adherence to industry best practices to develop globally recognized and appreciated real-estate projects, he added.
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