Croatian real estate is on the radar for the Dubai based property giant DAMAC International.
"Croatia has a lot to offer, picturesque places for residential communities as well as an attractive tourist destination, which is a huge potential for accommodation projects," commented the Senior Vice President of International Business at DAMAC, Wael Al Lawati. He added that he sees the potential of real estate locations in Istria, Dalmatia and Dubrovnik.
The reason for DAMAC’s sudden interest in Croatia relies on a recent visit by the President of DAMAC, Hussain Sajwanja, to the country and a business meeting with the President of Croatia, Kolinda Grabar – Kitarović. The pair met in July last year and apparently discussed some possible future co-operation in the real estate sector. It would appear that these meetings have proved constructive.
"DAMAC has the capital and resources to realize large-scale projects with the right local partners and in cooperation with the government, and we could soon announce a big project in Croatia," said Al Lawati.
Could that project be a golf course or hotel resort? In Dubai the company has built a number of residential complexes as well as golf course resorts. In fact, the Trump International Golf Club Dubai, which was opened by Donald Trump Jr and Eric Trump in February last year, is one of the jewels in their property empire.