EAGLE HILLS EXPANDS FOOTPRINT IN IRAQ, CROATIA
UAE-based developer Eagle Hills announced plans to develop a $1.5bn golf resort in Iraq’s capital, Baghdad. The ambitious project will be situated on newly acquired prime land and is set to be a significant addition to the city’s evolving skyline.
The announcement follows a strategic meeting between Iraqi Prime Minister Mohammed Shia Al Sudani and Eagle Hills chairman Mohamed Alabbar, in June. The project is expected to set a new standard for luxury living in Baghdad, featuring amenities and design elements that cater to both international and local tastes.
Eagle Hills to develop Baghdad Golf Course
Named the ‘Baghdad Golf Course and Spa,’ the development will include a top-tier golf course, luxury residential neighborhoods, a five-star hotel, and an exclusive resort club.
Eagle Hills said it aims to create a landmark destination that marries contemporary infrastructure with Baghdad’s cultural heritage.
In a statement, Eagle Hills highlighted the project’s commitment to offering a luxurious lifestyle experience. “The Baghdad Golf Course and Spa is designed to blend leisure, relaxation, and luxurious living, providing an exceptional environment for both residents and visitors,” the company stated.
Eagle Hills plans to construct the golf course to meet international standards, making it suitable for both amateur and professional golfers.
The residential areas will feature meticulously crafted homes, ensuring a serene and high-end living experience.
Additionally, the hotel and resort club will offer premium facilities, including fine dining, spa services, and diverse recreational options.
Reflecting on the project, Alabbar said, “Baghdad is a city with an illustrious past and a vibrant culture. With the Baghdad Golf Course and Spa, we aim to honour this legacy while introducing a modern, luxurious living experience for its inhabitants and visitors.” He further emphasised that the development celebrates Baghdad’s enduring spirit and future potential.
An expanding portfolio
In recent months, Eagle Hills has significantly expanded its portfolio globally.
In March, the company entered into a $5bn agreement to help develop a neighborhood in Budapest, Hungary.
Additionally, it has undertaken a $4bn deal to establish a real estate venture in Bahrain aimed at developing multi-purpose projects.
Most recently, Eagle Hills Zagreb, a subsidiary of the UAE-based developer, announced its acquisition of a majority stake in the Croatian tourism company Sunce Hoteli. This acquisition includes purchasing a 69.71 per cent stake, which comprises a 50.46 per cent interest held by Sunce Ulaganja and a 19.25 per cent stake from Lucidus. Following these transactions, Eagle Hills Zagreb will initiate a buyout bid for the remaining shares of Sunce Hoteli.
Sunce Hoteli, known for its BlueSun Hotels and Resorts brand, operates 11 hotels, a campsite, and other tourism assets across Croatia. The company’s shares saw a 12 per cent increase, closing at 169 kuna on the Zagreb stock exchange following the announcement.
With these strategic expansions, Eagle Hills continues to strengthen its presence in key global markets, driving forward its vision of creating world-class real estate and tourism destinations.
Read: ‘Mini-Dubai’ being built in Budapest amid EUR5bn UAE-Hungary deal
2024-07-01T06:31:52Z dg43tfdfdgfd