• Wed. Dec 6th, 2023

Wealthy Arab Acquires Sunčani Hvar Island


Nov 20, 2023

The iconic Sunčani Hvar resort in Central Dalmatia has been sold to Eagle Hills, a company from the United Arab Emirates linked to Muhamed Alabar, as reported by Jutarnji list. This was announced by Radovan Vitek, the owner of CPI Property Group, which has been listed on the Frankfurt Stock Exchange. According to rumors, Blackstone, an influential American fund, is also considering a takeover.

If everything proceeds as planned, this will result in the formation of a powerful tourism company in Central Dalmatia. Muhamed Alabar is known for his investment in the Belgrade on the Water project and has shown interest in developing the Zagreb Manhattan project in Zagreb. Notably, he has also been involved in the construction of the iconic Burj Khalifa tower in Dubai.

The sale price has not yet been disclosed and is eagerly anticipated on the Frankfurt Stock Exchange. With this acquisition, CPI Property Group will continue to expand its presence and strengthen its position as a leading player in the European real estate market.

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