A unique city at the Montenegrin seaside – Lustica Bay, close to Tivat, expects a marina and a marina-settlement, as well as the first hotel, to open next year.
The company Lustica Development announces the beginning of the construction of the key part of the complex – the Lustica Bay Centrale settlement, for 2018 as well.
Lustica Bay is a joint endeavor of the Government of Montenegro and the Swiss company Orascom Development Holding. The project has been estimated at total of EUR 1.1 billion, making it the biggest investment in this part of Europe.
– We are completing the first phase of the construction and we are looking at the big opening of the Lustica Bay marina and settlement, as well as the first hotel, next year. We will start building the city core, Lustica Bay Centrale, where commercial and administrative facilities will be located. This will be a very competitive part of the complex in terms of prices. Unlike the marina-settlement, where the price of a square meter is defined by the location in close proximity to the see and the luxury standard, Centrale will feature prices in the range of those in the region, with the prices of apartments starting at EUR 120,000 – says Dragana Becirovic, PR adviser of Lustica Bay.
– We expect a considerable interest in Lustica Bay from the clients from the region. We currently have buyers from 32 states, and a big percentage of them are from Serbia – Becirovic said at the presentation of Lustica in Belgrade.
This residential complex, which offers the option of a temporary stay, but also of permanent housing, got its first 70 real estate owners in 2015, and the new 88 owners will move in this year with their families.
Once it's completed, the complex will offer two marinas, a golf court with 18 holes, over a thousand apartments and 500 houses and mansions. Next year, the first of the seven planned hotels – Chedi Lustica Bay, will be completed. The construction of this hotel started in April. A total of 26 buildings featuring 160 units combined and a marina with the capacity of 176 moorings have already been built in the Lustica Bay marina-settlement , and the first mansions and city houses are currently being built.
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