“Bosnia’s Spring:” Arab Investors to invest Millions (gallery and video)

[wzslider autoplay=”true”]As tourists from the Persian Gulf who are looking for where to book their next holiday and escape from the summer heat and high temperatures, Arab investors are offering an interesting destination: B&H.

Looking for new trends, the Arab investors in B&H are mostly attracted by inexpensive land and labor. They are building thousands of houses and hotels near the capital city of Sarajevo, thus making an excellent promotion for B&H, for the middle class that is looking for a new destinations that could become an alternative to the Swiss resorts.

This is also a stimulus for the economy of B&H, which is still recovering from the war and struggling with unemployment of over 40 %. All the construction is performed by local companies which are providing new workplaces.

“Tourism in B&H has a bright future. This country is beautiful,” said Jasem Ahmed Al Kanderi, head of the Gulf Estate Company from Kuwait. His company built and recently opened the first Arab Resort in B&H. It is located southwest of Sarajevo, and it includes 160 individual houses and apartments and artificial lake. This fenced community is offering swimming pools, supermarkets, sports object and view on the mountains where the Olympic Winter Games were held back in 1984.

“This is a tourist resort but also an opportunity for investment,” added Al Kanderi. “We managed to promote the tourism potential of B&H in the Gulf countries, and we are proud to be among the first ones to finish the project.”

However, a project of 25 million EUR seems “small” compared to the one planned by Ismail Ahmed, head of the Buroj Property Development from Dubai.

Buroj Ozone, which is located at an altitude of nearly 1,000 meters and an average summer temperature of 25°C, can offer a refuge for tourists from the United Arab Emirates, from the summer temperatures ranging up to 49°C in Dubai.

In the last few years, B&H recorded significant increase in tourism. Visitors from the East and the West are flocking to Sarajevo to see the “little Jerusalem” – the city with a great history where mosques, Jewish temples, Catholic and Orthodox churches are located side by side.

In comparison to the last year, tourism showed an increase of about 30 %, and most of the visitors are coming from Germany and Austria. However, visits from the Gulf countries are rapidly growing. Number of Kuwaitis tripled this year and amounted to 33,000.


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