• Sun. Dec 10th, 2023

Wealthy Arab Acquires Sunčani Hvar Island


Nov 20, 2023

According to Jutarnji list, the Sunčani Hvar resort in Central Dalmatia has been sold to the Eagle Hills company from the United Arab Emirates. The company is linked to Muhamed Alabar, an influential businessman known for his investments in major projects such as the Belgrade on the Water project and the Zagreb Manhattan project. It is also rumored that American fund Blackstone is considering a takeover of Sunčani Hvar.

The sale was announced by Radovan Vitek, owner of CPI Property Group, which owns Sunčani Hvar. The price of the sale has not been disclosed, but it is expected to be announced on the Frankfurt Stock Exchange where CPI Property Group is listed.

If everything proceeds as planned, Eagle Hills will establish a formidable tourism company in Central Dalmatia with Sunčani Hvar at its center. Muhamed Alabar’s involvement in the project aligns with his interest in developing major real estate projects and his experience in Dubai’s iconic Burj Khalifa tower construction.

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