Dubai-based Ayana Holding forms JV to build Dh6b project in Florida

Dubai: Dubai-based Ayana Holding has formed a joint venture with Florida’s Marsan Real Estate Group to develop a new project in US.

The partnership will allow Ayana to establish its presence in North America and help Marsan to expand into a wider market, the companies said in a statement.

The project, which is valued at $1.6 billion (Dh5.88 billion), is located in Florida and will have golf courses, restaurants, shopping malls, and a commercial space, among other amenities.

“2021 will be a huge turning point for us,” said Jean Marsan, founder of Marsan Real Estate Group. “With the second largest segment of the population, the ‘baby-boomers’, reaching 65 years old.”

“Although we are not aware of the sole reason for a continuing strong momentum in Florida’s housing market, we believe that a combination of factors including the Hispanic population boom, pro-economic government, and the reputation of being one of the top five tax-friendly states are at play as well,” Marsan added.