Lustica Development, Tivat
Luštica Development AD was founded in 2008 as a joint venture between Orascom Development Ltd. (90%) and the Government of Montenegro (10%). As a subsidiary of Swiss Orascom Development, Luštica Development AD is the national project company responsible for developing, building and operating Luštica Bay and will remain a local partner for generations. Its guiding principle is to create a vibrant and prosperous Montenegro through intelligent development of the land using environmentally sound methods.
The project site is an inspiring, wonderfully secluded area along the Luštica peninsula, where rolling hills cascade down to an idyllic coastline. Its 690-hectares will be sensitively developed into a fully-integrated, new town in Montenegro with a state-of-the-art infrastructure. It will mark the biggest investment in Montenegro yet (1.1 billion Euros) and after completion will host a few thousand residents, more than 1000 apartments, more than 500 villas and townhouses, seven hotels, two marinas, a signature 18-hole golf course and a range of public facilities including a school and medical facility.
This is no ordinary large scale development. Luštica Development AD has an outstanding reputation for its dedication to preserving the nature, culture and architectural integrity of Montenegro. Development will work sensitively and sustainably with the land, protecting its natural richness, embodying the style and spirit of the local people and leaving a lasting social and economic impact on the area.
VISION
To create a vibrant, inclusive and sustainable year-round resort town, attracting regional and international renown for its value proposition, high quality natural and built environments, diverse offerings and experiences, relaxed lifestyle and strong sense of community.
MISSION
To develop and manage the Lustica Bay project to realize the company’s vision, to enhance its reputation as a reliable partner and to deliver sound financial performance to its shareholders
AWARDS AND ACCOMPLISHMENTS
• 2022 - European Property Award for The Best mixed-use
development Montenegro
• 2019 - European Property Award for The Best Residential
Development for Montenegro
• 2019 - European Property Award for The Best Developer Website
for Montenegro
• 2019 - European Property Award Nominee for The Best Developer
Website for Europe
• 2019 - Eastern European Real Estate Awards for The Best Resort
Project of the year
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