Lustica Bay Montenegro
Orascom - Lustica DevelopmentDuring the fourth quarter of 2009, Orascom Development Group entered into an agreement with the Government of Montenegro to develop an integrated destination on the Mediterranean Traste Bay. The total land bank for the project amounts to 6.8 million m² in Lustica, in the municipality of Tivat The integrated project is planned to offer 2,080 residential units, seven hotels with a total capacity of 1,370 rooms, 2 world-class marinas on the Adriatic Sea with 170 berths, an 18-hole golf course, a Thalasso Centre, commercial facilities, a town center, and basic infrastructure requirements. The destination presales were launched during 2012 along with the initial construction of the access roads, clearing and the marinas. The project will be the first certified eco-labeled development in Montenegro.