(MENAFN - Kuwait News Agency (KUNA)) Member of the Presidency of Bosnia and Herzegovina Bakir Izetbegovic opened on Saturday the Sarajevo Resort, an integrated Kuwait-funded tourist project, in Osenik village in the Municipality of Hadzici on the southwest outskirts of Sarajevo.
The resort, consisting of more than 400 housing units and recreational facilities, cost nearly USD 30 million; it was developed by Kuwait's Gulf Real Estate Co.
In his address to the opening ceremony, Izetbegovic commended the Kuwaiti-Bosnian ties as a good example for friendly countries to follow.
Bosnia and Herzegovina welcomes the investments from friendly countries, such as the State of Kuwait, and seeks even closer cooperation in all fields in the future, he affirmed.
Izetbegovic noted that his country has a lot of ample investment opportunities in such areas as agriculture, energy, tourism and industry, and called on private sector investors to tap into these opportunities.
On his part, Kuwait Ambassador to Bosnia and Herzegovina Nasser Al-Mutairi said the project will have a positive impact on the economy of the Balkan country and create numerous jobs in addition to serving the domestic and foreign tourism.
"Since the establishment of the diplomatic ties with Bosnia and Herzegovina, Kuwait has been keen on cementing the bilateral ties and economic cooperation," he said, citing the contributions of the Kuwait Fund for Arab Economic Development (KFAED) and the Kuwait Investment Authority (KIA) to the development of infrastructure projects.
Meanwhile, Chairman of the Gulf Real Estate Co. Jassem Ahmad Al-Kanderi said the Sarajevo Resort, a purpose-designed settlement, took two years to complete.
"The project, with a total area of 160,000 square meters, has the capacity to accommodate 1,125 tourists; it has an artificial lake covering 12,000 square meters around which 160 facilities are arranged," he pointed out.
"The project has two covered pools, a hotel, restaurants, sports courts, supermarket, as well as many other ancillary facilities. More than 50 million BAM (Bosnian Mark or USD 29.06 million) were invested in the project so far," he revealed.
The resort will be an oasis for the guests from the Arabian Gulf and the Middle East who will find peace and pleasure during summer months in the vicinity of Olympic Mountains Bjelasnica and Igman, as well as the capital city of Sarajevo, Al-Kanderi added.
The opening ceremony also gathered President of Hadzici Municipality Hamdo Ejubovic and a number of diplomats and businesspeople.