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DAMAC Chairman praises Croatia's growing tourism sector

Vicky Karantzavelou - 12 July 2017, 00:14

DAMAC Chairman Hussain Sajwani sees 'strong investment opportunities' as he tours country; tourism sector can attract stronger FDI and drive further GDP growth.

DAMAC International Chairman, Hussain Sajwani, was received by Croatian President, Kolinda Grabar-Kitarović, following a tour of the country where he visited a number of cities popular among tourists along Croatia's scenic Adriatic coast.

"It was a pleasure meeting with President Grabar-Kitarović. We discussed the many investment opportunities that Croatia presents, as it continues to become a hot spot for tourists from all over the world, while providing a business-friendly environment that is attractive to foreign companies," said Sajwani. "Croatia offers a wide range of travel options that present numerous investment prospects in sectors like coastal residential development, hospitality, leisure, sports and entertainment, as well services targeting inbound visitors. Its ability to continue to attract increasing visitor numbers demonstrates the country's appeal to a broader traveller base by providing unique experiences, as well as a stable political, economic and social setting that encourages foreign direct investment."

Croatia is becoming a hot spot destination for global tourists, thanks to its impressive coastline on the Adriatic Sea. Travel and Tourism continues to be a key contributor to its GDP, accounting for approximately 10.1 per cent in 2016, according to the World Economic Forum's The Travel & Tourism Competitiveness Report 2017.

DAMAC continues to explore expansion opportunities in gateway cities and travel destinations across Europe, following the success of its 50-storey AYKON London One residential development in the United Kingdom, which has already pre-sold over 45 per cent. AYKON London One is set to become one of London's most prestigious addresses and the first in Europe to be designed in partnership with Versace Home.

Last month, DAMAC was chosen by the Government of Oman to redevelop its Port Sultan Qaboos in Muscat, a historic USD 1 billion master development project which will see the port transformed into an integrated tourist port and lifestyle destination that includes hotels, residences, as well as a dining, retail and leisure offering.

DAMAC has delivered more than 18,500 homes and has over 44,000 units in various stages of development. The Company's footprint extends across the Middle East with major projects in the UAE, Saudi Arabia, Qatar, Jordan, Lebanon, United Kingdom and Oman.


Photo caption: President of Croatia Kolinda Grabar-Kitarović greeting DAMAC Chairman Hussain Sajwani in Zagreb. Photo Credit to President of Croatia Office, Filip Glas



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