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FINANCIAL NEWS
Dubai’s Buroj to invest USD4.8b in Sarajevo resort
11 Oct 2015
(MENAFN) Dubai-based developer Buroj Property Development said it plans to invest USD4.8 billion to build a luxury tourist resort near Sarajevo in what could be the biggest foreign investment of its kind in the Balkan country.
Bosnia has seen an influx of tourists from the Middle East in recent years and a growing number of Middle Eastern buyers of properties attracted by the country’s mountain landscape.
“The initial investment in the project is worth around USD1.04 billion while the total investment will amount to USD4.88 billion” over the next eight years, the company’s manager told a news conference.
The “Buroj Ozone” will stretch over an area of 1.3 million square meters and include thousands of housing units hotels and the largest shopping Centre in Bosnia, he added.
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