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Dubai-based Ayana Holding has formed a joint venture with Florida’s Marsan Real Estate Group to develop a $1.6 billion (AED 5.88 billion) new project, BellaViva at Whispering Hills, in the US.
The partnership will allow Ayana to establish its presence in North America and help Marsan to expand into a wider market, offering investors from GCC states and around the world new attractive investment opportunities in a thriving housing market, Ayana said in a statement.
Located in Florida, Leesburg, the BellaViva at Whispering Hills project will have golf courses, restaurants, shopping malls, a medical clinic, boutique hotel, spa, hospital, and commercial space, the statement said.
Comprising 5,500 luxury homes across 1,800 acres of pristine land, hills, lakes, nature reserves, and an equestrian center, BellaViva is expected to be the fastest-growing community for retirees and seasoned investors.
Jean Marsan, founder of Marsan Real Estate Group, said: “Although we are not aware of the sole reason for a continuing strong momentum in Florida’s housing market, we believe that a combination of factors including the Hispanic population boom, pro-economic government, and the reputation of being one of the top five tax-friendly states are at play as well.”
In Florida alone, property prices have risen by 6.61 percent since former President Donald Trump declared a state of emergency last March.
It is estimated that by 2030, the average house price in Florida will reach $437,921, putting it in the top ten states ahead of New York and New Hampshire, with a population increase of 6 million over the decade, the statement said.
(Writing by Seban Scaria; editing by Daniel Luiz)
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