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 [Friday, 23 October 2008] "ORASCOM confirms €1.1billion investment in Lustica, Tivat, Montenegro"
Egyptian ORASCOM confirms it's €1.1billion investment in Lustica in Tivat region. Their Project foresees development of 8 new hotels with capacity of 3310 rooms out of which at least 60% is to be of 5star level or higher, villas, golf courses, conference centre, shopping centre, commercial and residential developments. Orascom is under obligation to complete at least 3x new 4star hotels in the next 12 years. ORASCOM is also under obligation of a minimal investment of €150million in the area. According to Montenegro Minister for Tourism, Mr Predrag Nenezic, this project is to create 10.000 new jobs in the area, out of which 9.000 are to be in the hotel industry. As reported by Intelli News, Montenegro Local Press Pobjeda, Radio/Television Montenegro, SeeBiz and Financial.de : http://www.alacrastore.com/storecontent/ISI_Intellinews/Montenegro_Today-MJ194838794 http://www.pobjeda.co.me/citanje.php?datum=2009-10-23&id=173353 http://www.rtcg.me/vijesti/ekonomija/info/11407-potpisan-ugovor-za-lusticu.html http://www.seebiz.eu/hr/tvrtke/turizam/saviris-orascom-ce-lusticu-pretvoriti-u-mali-grad,59374.html GREAT News for the area as this is just another addition of influential international players flocking into the area. This will certainly raise the profile and interest in this immediate area for the future and that is also great news for our clients as well. This is just another news article that raises the desirability of projects in the area and their potential future growth. Please refer to our Development Land and Property Sales section for latest investment opportunities in this area: [Wednesday 27 August 2009] "Tivat, Montenegro becomes a more popular destination for mega yachts" MORE AND MORE LUXURY YACHTS SAILING INTO TIVAT!!!
Latest in line of luxury yachts visiting the area is the one from the russian billionaire Oleg Deripaska. His luxury mega yacht "Queen K", ranked #55 on the list of 100 biggest private yachts in the world for this year, sailed into Tivat Bay this weekend. It's 72.6 meters long, 13.5 meters wide and has a sailing depth of 3.85 meters. A short list of other huge yachts visiting the area include mega yacht "Takania" owned by a Middle East millionaire and also one of the biggest yachts in the world, called "Yacht A" owned by russian billionaire Andrej Melichenko. "Yacht A" is 118 meters long with 7 floors, heliopad and separate lifts for crew and passengers. It is worth more than $250 million and just to fill up it's fuel thanks you need to spend in the region of $1.4million! Links to articles: http://www.mtsmondo.com/news/world/text.php?vest=107739 http://www.mtsmondo.com/news/world/text.php?vest=102823 http://www.biznisnovine.com/cms/item/stories/sr.html?view=story&id=39168 [December 27, 2008] "New Year, new investment? (2009)" As reported in the Financial Times New year, new investment? by Liam Bailey and Nicholsas Barnes Published: December 27 2008 02:00 | Last updated: December 27 2008 02:00 Ranking Montenegro as #4 destination for the real estate / property investment for 2009! Excerpt from the article: "Montenegro appeared relatively recently on the second-home buyer radar - in effect only since its split from Serbia in June 2006. It has a small but attractive coasline with little room for significant resort development, limiting the risko of oversupply. And property prices - at €1,550 to €3,100 per m2 on average for new developments - are cheap when compared with many established European locations although they can go as high as €4,000 to €5,500 per m2 . In the longer term, Montenegro aspires to European Union membership, which will significantly lower its risk profile. Locations worth considering are Budva, Tivat and Sveti Stefan. Link to full article on Financial Times: http://www.ft.com/cms/s/0/dae41f8e-d3b7-11dd-989e-00077b07658.html [November 17, 2007] "Small country, big future" As reported in Financial Times |
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