Arqaam, the Dubai based investment bank, has entered into a partnership with Four Seasons Hotels and Resorts, the world’s leading luxury hospitality company, to manage and operate Arqaam’s luxury mixed use resort currently being developed on the island of Hvar in Croatia. Four Seasons Resort Hvar, Croatia is expected to open in 2019.
Located on a prime waterfront site at Brizenica Bay along the Dalmatian coast, Arqaam’s luxury development will feature a 120-room Four Seasons hotel and a luxury residential community including 60 Four Seasons Private Residences ranging in size from one and two bedroom residences to three to five bedroom villas.
Riad Meliti, Chief Executive Officer of Arqaam Capital, commented, “We are creating a natural retreat within a stunning, secluded enclave in one of the Dalmatian Coast’s most beautiful and private bays. Four Seasons was the natural choice for us as they share our commitment to elegance, unrivalled service and luxury. They have a long history, a strong and undiluted brand and an uncompromising dedication to the highest standards.”
“In Arqaam Capital we have found the ideal partner for our entry into Croatia, one who believes in the culture of Four Seasons and shares our values,” said J. Allen Smith, President and CEO, Four Seasons Hotels and Resorts. “Arqaam’s long-term vision, combined with their extensive experience in emerging markets and project development are key to positioning this project for success.”
Continued Smith, “Croatia is one of Europe’s fastest growing tourism markets and a highly sought-after leisure destination for discerning global travellers. We look forward to working together with Arqaam to create a world-class property in Hvar.”
The Resort will have its own private bay; multiple swimming pools and private infinity pools; a state-of-the-art spa and fitness centre; a selection of restaurants, cafes, bars and retail boutiques; and conference and banqueting facilities.