The Central Dalmatia region is about to welcome a new and powerful force in the tourism industry, as reports indicate that Sunčani Hvar, one of the region’s most prestigious hotels, has been sold to Eagle Hills, a company from the United Arab Emirates. According to Jutarnji list, this decision was made by Radovan Vitek, the owner of CPI Property Group, which owns Sunčani Hvar.
However, it is not just Eagle Hills that is interested in acquiring Sunčani Hvar. Blackstone, an influential American fund, has also been rumored to be eyeing a takeover. Although the price of the sale has not yet been disclosed, it is eagerly anticipated on the Frankfurt Stock Exchange where CPI Property Group is listed.
If everything proceeds as planned, Muhamed Alabar will become a major player in the development of Sunčani Hvar and its associated properties. He has already shown interest in investing in various projects in Croatia and Dubai and his involvement could bring significant changes to the tourism industry in Central Dalmatia.
Alabar’s investment portfolio includes several major developments such as Belgrade on Water project and Zagreb Manhattan project. In addition to this he is known for his involvement in the construction of iconic Burj Khalifa tower in Dubai which makes him an ideal candidate for taking over Sunčani Hvar.