Israeli Developer Plans $19 Billion "Dubai of Orlando" Project

Israeli businessman Babo Kobo is spearheading a massive development project in Orlando, Florida, estimated to be worth $19 billion upon completion. The project, named "Toscana," has received approval from the Orange County Council. It is planned for a 920-dunam (approximately 227 acres) site near Shingle Creek, close to International Drive.

The development will feature 4,814 apartments, 1,291 hotel rooms, and about 60,700 square meters of commercial space. Kobo envisions the project as a luxury destination combining elements of Dubai, Beverly Hills, and Miami with Orlando's theme parks and green spaces. He aims to attract luxury brands, offer branded residences and hotels, and create unique dining and entertainment experiences.

Kobo highlighted the strategic location of the project, situated near major tourist attractions like Disney World and Universal Studios, as well as shopping outlets and the Orange County Convention Center. He noted that the nearby Simon Outlet mall attracts approximately 30 million visitors annually, and the land is adjacent to a 12,000-dunam park.

The project is the result of years of land acquisition and consolidation, with 144 separate parcels combined between 2014 and 2021, now valued at around $1 billion. The approval process was lengthy, with an initial rejection in May 2025 followed by a revised plan that was approved on September 29, 2026, incorporating environmental and infrastructure conditions.

This Orlando venture follows Kobo's previous work developing market complexes in London's Camden Market. He intends to replicate a broader model in Orlando, incorporating luxury housing, hotels, and international brands, aiming to create a destination that is both aspirational and desirable for living and visiting.