Leading Saudi developer Dar Al Arkan has begun 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 m², making it the largest real estate project in the Balkan nation.
Surrounded by 20,000 native trees, the SR500 million ($133 million) project will provide a gated community of high-quality villas and residential land designed for modern living, in an area rated as one of the healthiest and the cleanest in the Balkans, he said.
In addition to a variety of residential options, Sidra will offer 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, nature reserves and parks, making it the perfect home from home.
Dar Al Arkan said the Sidra project promises homeowners the opportunity to own a second home “in a haven of peace and tranquility” in a country that is fast becoming the premier investment and vacation destination right in the heart of the Europe.
As development plans move forward, the company recently awarded Cestotehnik doo Tuzla in Bosnia the contract to execute the complete infrastructure and road works for the entire master plan. The work should be completed in 18 months and will pave the way for the next stages of the real estate project.
Dar Al Arkan Properties Vice President Ziad El Chaar said, “We are very committed to moving forward and staying on track with our development plans for Sidra. We are also very fortunate to have gained the trust of the Department of Public Works to deliver the project based on the highest standards in conjunction with capable local partners.”
“As a Saudi-based company, Dar Al Arkan is keen to create closer ties with 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 is in a privileged position to continue to grow economically, especially with the ongoing reforms which increasingly facilitate foreign investment in many sectors,” he said.
The exclusive Dar Al Arkan project will further position Bosnia as an attractive real estate investment location by showcasing high standards and strict adherence to industry best practices to develop globally recognized and valued real estate projects, it said. -he adds.
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