Luštica Bay has set out on a mission to be a new coastal town on the Luštica peninsula in Montenegro. As a joint venture between Orascom Development Holdings and the Government of Montenegro, the project is committed to not only developing the town, but to concurrently stimulate the development of its surrounding area.
Valued at more than 1.1billion euros, Luštica Bay’s contribution is already visible. Some €145 million has already been invested in the development with the construction of a new marina village, a five-star hotel and real estate neighborhoods. Alongside; environmentally-conscious, sustainable infrastructure the value of which is estimated at around 90 million euros, is being put in place to support Luštica Bay and strengthen the entire region. This includes road construction and the installation of water reservoirs, wastewater treatment plants, power and telecommunication supplies. Moreover, with the plan to include 7 hotels, the first golf course in Montenegro, the Centrale complex which is conceptualized as the new town center with a school, medical and community facility, the quality of the tourism offer on the peninsula and in Montenegro as a whole is positively impacted.
Carried out with sensitivity and transparency, these efforts are helping to modernize the peninsula while preserving its unique character. Imperative for the company in terms of the approach to construction and architectural design, was taking advantage of local materials and resources which there is plethora of on the peninsula. In other words, Luštica is capitalizing on local knowledge and its immediate environment, designing specifically with the local climatic conditions in mind, all the while putting the area on the map as a key tourist and investment destination while safeguarding its future for generations to come.
