Tourist City to be Built in Bosnia

Bosnia is up for something great as a Dubai based company is planning to build a new 'tourist city' in the area.

Buroj Property Development has signed a €4.5bn ($5.1b) contract which would allow them to build hotels, shopping malls, a hospital and even houses in one of the municipalities of Bosnia -- Trnovo to be exact -- located at the foot of Bjelasica.Also part of the development is a three-bedroom villa is expected to cost $358,000 (or about £231,781).

According to the Guardian, Buroj Property Development's CEO Ismail Ahmed said that building a tourist city is his life project. 'This is my life project and I hope that we will finish it without delay. I sincerely believe in this because I am convinced that Bosnia is an important global tourist destination that has yet to be discovered,' he said.

The project is set to start by April 2016 and to be completed by the end of the same year. The tourist city is said to be built on an area of 1.3 million square metres. This so-called project is one of the biggest property and real estate projects spearheaded by Gulf companies. Other developments done in the area include a tourist resort by a Kuwaiti investor and a residential area by a Saudi company.

A news report released through the Buroj Property Developemnt website stated: 'President Bakir Izetbegović president of the Republic of Bosnia and Herzegovina confirmed that the UAE investments in Bosnia gaining acceptance and special care in many investment sectors, particularly in the sectors of tourism, real estate, noting that his country provides facilities to support all UAE investments in Bosnia'.

Buroj Property Development was established in 2007 and is considered to be one of the leading property development companies in United Arab Emirates Dubai. 'We believe that we can reach anywhere. We believe nothing is impossible in this world after Allah almighty's wish. We have exceeded targets and delivered best customer experience to our clients, at the same time providing exceptional futuristic projects', Ismael Ahmed said.