Saudi-based real estate development company, Dar Al Arkan has announced the launch of its first European residential project in Bosnia and Herzegovina. The 500,000 sqm luxury development project will be located 30 minutes from the country’s capital, Sarajevo, and is expected to break ground in early 2021.

The company stated that it has already secured the municipal and federal approval for the project, which is set to be the largest single real estate project in the country.

Commenting on the launch, Yusuf bin Abdullah Al Shalash, chairman of Dar Al Arkan, said: “Today, Dar Al Arkan has placed a golden opportunity into the hands of investors. Bosnia and Herzegovina is a cultural destination with an authentic history, traditions and a wonderful natural environment.”

“The country is growing in popularity, so this is a perfect investment for those wishing to be part of the country’s developing luxury tourism and hospitality sector. This will be a wonderful haven for those wishing to relax within a private, second-home gated community surrounded by luxury facilities and services.”

“We believe the development will attract both Bosnian and international investors,” he added.

The project is said to incorporate contemporary villas inspired by local architecture and feature stylish interiors that complement the views. Facilities such as a clubhouse, a hotel and spa, a gym, food and beverage outlets and a children’s playground will be included within the project, according to Dar Al Arkan.