Exclusive resort to be built on Luštica
The Government of Montenegro has approved the urban-technical conditions for the construction of another exclusive resort on the Luštica peninsula, Dnevne novine states.
This is a significant project for the state as well, because according to the Central Depository Agency (CDA), the state of Montenegro has 7.19 %of the ownership capital of Luštica development, while Orascom owns 92.7 % of the company’s shares.
Pursuant to the request of Luštica development Company, and in accordance with the guidelines of the higher order plan, preparation of technical documentation for the facilities of the tourist resort, with a capacity of at least 150 high category beds, has been enabled.
The upper limit of the number of beds within the resort is not defined by the urban and technical conditions, but will depend on the possibility of meeting the requirements of accommodation categorization.
On 23 October 2009 the Government of Montenegro, the Municipality of Tivat and Luštica Development Company Podgorica concluded the lease and construction contract, based on the Decision of the Parliament of Montenegro on long-term lease of land on the Luštica peninsula. The agreement entered into force on 11 October, 2013.
Spatial urban plan for Tivat has envisioned the tourist complex as a completely new urban area, with a total of 16.000 beds.
The first phase will include 1.610 hotel rooms, 1.300 apartments and 550 villas with a total of 7.612 beds.
Source: CDM
