Israeli Businessman's $19 Billion Florida Real Estate Project Gets Green Light
Translated & summarized from Ynet by baba
The story in 5 lines · by baba
- Babo Kubo's $19.1 billion "Tuscany" project in Orlando, Florida, has been approved.
- The project includes 4,814 residential units and 1,291 hotel rooms.
- Approval followed a previous rejection and involved environmental and legal mediation.
- The development aims to attract luxury brands and boost tourism.
- Kubo previously held stakes in London's Camden Market.
Israeli businessman Babo Kubo, partner of model and television presenter Miri Bohadana, is set to develop an ambitious real estate project valued at approximately $19.1 billion near Orlando, Florida. The Orange County Board granted final approval last week for Kubo's revised development plan in the Shingle Creek area, close to the major tourist thoroughfare International Drive.
The complex, dubbed "Tuscany" by its developers, is planned to span about 920 dunams (227 acres) and will include 4,814 residential units, 1,291 hotel rooms, and approximately 60,700 square meters of commercial, dining, and entertainment space. The approval was secured by a narrow 4-3 vote, marking a significant turnaround after the plan was unanimously rejected in May 2025.
The developers aim to attract international luxury brands like Armani and Fendi, blending global tourism with ultra-luxury residences. The $19.1 billion valuation is based on projected revenue from unit and hotel sales, along with capitalized future rental income. Kubo, a former stakeholder in London's Camden Market, seeks to capitalize on Orlando's tourism boom, which saw a record 76.7 million visitors last year.
The development faced considerable environmental and legal opposition. The initial plan was rejected in May 2025 due to concerns over impact on the natural drainage basin, traffic congestion, and flooding. The developers responded by initiating mediation, citing unreasonable infringement on property rights and threatening a lawsuit for over $112 million in diminished value.
A mediator recommended a review, leading to a compromise that includes protections for wetlands, careful consideration of floodplains, and elevated access roads. Despite the conceptual approval, the project still requires further engineering assessments and building permits before construction can begin. Kubo expressed his vision to combine the "sparkle of Dubai, the luxury of Beverly Hills, and the style of Miami" with Florida's natural spaces, creating a comprehensive experience of branded residences, hotels, and entertainment venues.
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