The government on Thursday decided to accept the proposal of the economy ministry to add the HRK 509 million worth first stage of the Livka Bay resort settlement project on the island of Solta to the list of projects of strategic importance for Croatia.
An upmarket resort settlement is to be built in Livka Bay on the island of Solta off Split in next few years, and this project which includes a five-tar hotel, is estimated at a billion kuna.
Economy Minister Darko Horvat today informed the cabinet that the project would be about an elite resort settlement which will include a five-star 109-room hotel, alongside exclusive residential real estate and other amenities.
As many as 29 villas and 23 bungalows are planned in that complex.
The first stage of the project envisages the creation of 250 jobs, said Horvat.
This project is to be financed by private capital and is being prepared by the Azurna Uvala d.o.o. company, headquartered on the island of Solta.
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, told Hina in April that the project should be completed until 2023 and that the work in infrastructure could begin this year.
Bijedic also said that the British company Dolphin Capital Investors would be willing to invest about HRK 183 million of private capital for this purpose. (Hina/FaH)
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