Authorities in French Polynesia are seeking GCC expressions of interest to develop a $1bn hospitality project in Tahiti.

The proposed scheme would involve building hotels, houses and apartments, a shopping centre, a museum, a casino, and recreational areas (golf course, water activities, traditional/cultural activities) spread across a 50-hectare site.

Investors will be granted a long lease and operating rights to develop the real estate project.

GCC developers have been active in the international market, with several projects in Europe, Africa and Asia belonging to UAE and Qatari investors.

UAE firms such as Dubai developer Limitless and Abu Dhabi-based Aldar Sorouh have also expanded their portfolios outside of Europe and the Middle East.

In May 2014, Limitless reaffirmed plans to develop its Halong Star project in Vietnam, while Aldar also announced plans for a mixed-use real estate scheme in Kazakhstan.

The global real estate market has been showing signs of improvement and UAE developers are once again setting their sights abroad, with major projects planned across the Middle East, Africa and Europe.

Follow Hossam Abougabal on Twitter: @MEEDHossam