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Construction of 1 Billion Euro Resort Begins in Montenegro
Written by Danica Radisic On 28 October 2013 @ 15:06 pm | No Comments
In Development, Economics & Business, English, Montenegro, Quick Reads, Travel
Luštica Bay , near Tivat on the Montenegrin coast, is being developed by Swiss Orascom Development into a large-scale resort bay and marina. The resort is a colossal undertaking in the small Adriatic country and will spread across a 6.8 million square meter coastal area. The total value of the project is estimated at some 1 billion euro (1.4 billion US dollars). The company has already invested more than EUR 30 million in the project. Balkans.com gives more details :
Luštica Bay envisages construction of 7 hotels, over 500 residential villas and townhouses, over 1,000 apartments, 2 marinas with mooring and docking support facilities, a Gary Player-designed signature 18-hole golf course, spas and wellness centres, conference centre and year-round amenities including shops, an international school and medical facilities.
Luštica Bay is a joint initiative between Orascom Development Holding (90%) and the Government of Montenegro (10%).
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URL to article: http://globalvoicesonline.org/2013/10/28/construction-of-1-billion-euro-resort-begins-in-montenegro/
URLs in this post:
 Luštica Bay: http://www.lusticabay.com/
 details: http://www.balkans.com/open-news.php?uniquenumber=183431
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