Deal for $1.6 billion Florida residential area signed

The BellaViva at Whispering Hills development project will create 5,500 homes

Ayana Holding in the United Arab Emirates has partnered with US company Marsan Real Estate, to develop a US$1.6 billion residential area in Florida, US.

The joint venture will see the construction of the BellaViva at Whispering Hills project, which will comprise 5,500 luxury homes spread over an area of 1,800 acres.

It will include restaurants, shopping centres, a medical clinic, boutique hotel, spa, hospital, a golf course and space for other commercial activities.

While the companies said they expect BellaViva at Whispering Hills to become the “fastest-growing” community for retirees and investors, the joint venture also serves to further the expansion of both real estate businesses.

The partnership will allow Ayana to establish itself in North America and provide Marsan with access to investors from GCC (Gulf Cooperation Council) countries, allowing it to expand into other markets.

Ayana and Marsan sign the joint venture deal for BellaViva at Whispering Hills project