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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