The UAE-based investment bank Arqaam Capital has inked an agreement with Four Seasons Hotels and Resorts to manage and operate its luxury resort on the island of Hvar in Croatia.

Arqaam Capital’s Four Seasons Resort Hvar, which is currently under development, is expected to open in 2019.

Located on a waterfront site at Brizenica Bay along the Dalmatian coast, the development will feature a 120-room Four Seasons hotel and a luxury residential community. The community will include 60 Four Seasons private residences ranging in size from one- and two-bedroom residences to three- to five-bedroom villas.

“We are creating a natural retreat within a stunning, secluded enclave in one of the Dalmatian Coast’s most beautiful and private bays. Four Seasons was the natural choice for us as they share our commitment to elegance, unrivalled service, and luxury,” said Riad Meliti, CEO of Arqaam Capital.

The upcoming resort will have its own private bay, multiple swimming pools, a spa and fitness centre, as well as restaurants, cafes, bars and retail boutiques.

“In Arqaam Capital we have found the ideal partner for our entry into Croatia,” said J. Allen Smith, President and CEO, Four Seasons Hotels and Resorts. “Arqaam’s long-term vision, combined with their extensive experience in emerging markets and project development, are key to positioning this project for success.”