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Fri 25 Nov 2016 01:43 AM

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UAE's Green Valley unveils $43m Bosnian residential project

Developer announces plans to build Salam City to include 300 luxury villas in hilltop location near Sarajevo

UAE's Green Valley unveils $43m Bosnian residential project
Green Valleys project will be built 15km from Downtown Sarajevo.

UAE-based Green Valley International Real Estate has announced the launch of Salam City, a residential project in Sarajevo, Bosnia.

The Salam City project, to be built at a cost of AED160 million ($43.5 million), will encompass 300 luxury villas and spread across a total area of 134,000 square metres, the developer said in a statement.

It is located on the hilltop of Donja Vogošca, one of the most picturesque spots in the entire region, and is 15km from Downtown Sarajevo, the company added.

The project, Green Valley’s third in Bosnia, also includes a four-star hotel featuring open pools, health club, restaurants, cafes, supermarkets, mosques, tennis and basketball courts.

The launch is part of Green Valley’s strategy to offer GCC nationals the opportunity to invest in properties outside the Gulf.

Ali Saeed Al Salami, general manager of Green Valley Real Estate, said: “Bosnia offers unmatched returns on investments and Green Valley’s increasing portfolio in the country is a testimony to this.

"The Salam City project offers excellent growth potential for investors looking for perfect tourist destinations for investments. This is a proud addition to Green Valley’s iconic and luxurious projects across the globe.”

The launch of Salam City comes close on the heels of earlier projects in Bosnia including the Green Valley City and The Martyrs compound, also located in Sarajevo.

In May, Green Valley announced the launch of a AED500 million project in Marrakech, Morocco, following the completion of developments in Turkey, the UAE and other parts of the Middle East.

Green Valley has announced the City of Green Valley Marrakech project, which extends over 410,000 sq m and comprises 350 villas.

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