January 8, 2007
A European retreat for wealthy Arabs
It was inevitable. All the wealth flowing into the hands of Arabs has spawned an exclusive high-end resort community in the EU, designed with Arabian themes and marketed to Arabs. The site will include luxury townhouses and estates, and is to be on the Bulgarian coast, which was something of a resort for Soviet block countries during the decades of the Iron Curtain.
Al Bawaba reports (via Ummah News Links - the go-to site for following developments in the ummah)
The luxury development will include an intricate Arabian themed canal system, filled with fresh seawater pumped vertically up the side of the cliff from the sea below. The development will also include a large infinity pool positioned on top of a glass fronted luxury spa and gymnasium which will be cut into the cliff. A system of glass enclosed lifts will also be installed to transport residents to the beaches below. Harry Kantaria, Managing Director, Aspire Real Estate, believes that Azure Del Mar luxury lifestyle will attract investors from Dubai and jet setters from Dubai, who would love to won a holiday homes in Europe but are put off by the incredible high property prices and low return of established European destinations like London, France, Italy or Spain.