EUR 135 mn luxury resort to be built on island of Solta in next few years

An upmarket resort settlement is to be built in  Livka Bay on the island of Solta off Split until 2023, and this project which includes a five-tar hotel, is estimated at a billion kuna. The project's first stage, estimated at 509 million kuna, is expected to be declared an investment project of strategic importance, says Milenko Bijedic, the director of of the Azurna Uvala company that represents the investor, Dolphin Capital Investors, a real estate investment company focusing on the residential resort sector in emerging markets.

On Monday, an agreement on the preparation and implementation of this investment project was signed in the Croatian Economy Ministry, which paved the way for the procedure whereby the government can declare the project strategically important.

On that occasion, Minister Darko Horvat expressed satisfaction with the plans. The implementation of the first stage of the project will create about 250 jobs.

Bijedic has told Hina now the investors are now trying to obtain permits for infrastructure works, which includes the building of access roads to the bay.

Apart from the infrastructure, also a five-star 109-room hotel, alongside exclusive residential real estate and other amenities are to be constructed.

Dolphin Capital Investors boasts on its website that this luxury residential resort will be coupled with "a world class marina".

According to Bijedic, 183 million kuna of private capital has been invested to date in the preparatory stages for the project.

(EUR 1 = HRK 7.4)

(Hina)

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