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Luštica Bay, Montenegro (27 May 2017) – Prime Minister Duško Marković visited earlier today the construction site of tourist complex Luštica Bay, voicing satisfaction over the progress made so far. He highlighted that this project is changing Montenegro in terms of helping it to step out from the level of Balkan averageness…
Tivat, Montenegro (27 May 2017) – Prime Minister Duško Marković visited earlier today the construction site of tourist complex Luštica Bay, voicing satisfaction over the progress made so far. He highlighted that this project is changing Montenegro in terms of helping it to step out from the level of the Balkan averageness.
“Luštica Bay is indeed a project which will mark Montenegro we want to see in the future, a new Montenegro. The project is being implemented in an impressive way. The value of Luštica Bay is amounting EUR 1,1 billion, which makes this investment very important for the economy of the country. All of us have to be committed to this project, particularly when it comes to the Government and its administration. The time of strategic political decisions has passed, they have already been made. Now we are in the field of economy, development and growth, creating new jobs and improving the quality of life, which has been enabled by this project. More than 13 000 people will live and work in this complex. In that regard, there will be no season hotels and apartments. In fact, the complex will be a place where the people will work and live throughout the whole year. I am impressed by what I see in the field,” PM Marković explained to journalists after the completion of the visit.
Executive Director of the company “Luštica Development” Darren Gibson stressed that he is very proud of the progress made so far, adding that PM Marković’s visit represents the Government’s support to this project.
“This visit gives us confidence that we have the interest and support of the Government of Montenegro,” Mr Gibson outlined.
Delegations of the Government of Montenegro and Luštica Bay discussed all details of the project, voicing the joint belief that it will be successfully completed.
Speaking of the project, Executive Director Gibson stressed that this is the largest tourist complex in this part of Southeast Europe and the Mediterranean.
“The following year is one of the most important for development of the Luštica Bay, because the construction work in the Luštica Bay marina is almost completed. We have built 160 residential units so far, the construction of the villas and houses has begun, and we have been working on the construction of the first hotel. All of these units will be opened by the summer 2018. The rough shaping works on defining a golf course are about to start, and the construction of a new settlement Luštica Bay Central will be launched by the end of this year or at the beginning of the next one,” the Executive Director Gibson pointed out.
Luštica Bay is the future tourist town and it is being constructed in the undeveloped part of the peninsula Luštica, which does not have utility, transport or any other kind of infrastructure. That’s why this project worth EUR 1,1 billion represents one of the largest greenfield investments in this part of Europe.
The Lease and Construction Agreement has been signed on 23 October 2009 between the Government of Montenegro, the municipality of Tivat and the company Luštica Development AD Podgorica.
The investment programme under the contract exceeds EUR 1,1 billion and it includes the construction of: 8 hotels (3 310 hotel rooms with the 60% of capacities marked by 5 or more stars), 1 250 residential units (including villas and apartments), Thalasso centre, 2 marinas with berths and supporting amenities, golf course with 18 holes, conference centre, as well as other facilities which will be opened throughout the whole year, including shops, restaurants, primary school and health care facilities.
Source: Government of Montenegro