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Visit-Montenegro.com: Egyptians only a step away from Lustica
Negotiations between the Government and Orascom in the final phase: A hotel resort with 3.32 thousand beds, a golf course, three marinas – the main marina with 100 berths and two small marinas, schools, hospitals, restaurants, cafés, shops and handicraft-and-service center will be built according to the project for development of Lustica.
Podgorica (MINA-BUSINESS) – Negotiations between the Government and the “Orascom” company from Egypt on development of the peninsula Lustica will be continued in the following days, and the contract will be signed by the midst of July, it was announced yesterday from the Ministry of Finance.
In the following few days, the final segments of the contract will be worked out, such as purchase of shares, the right to sell property, other revenues and charges concerning municipal infrastructure, as well as dynamics of the construction of tourism complex, as the agency “MINA-BUSINESS” was informed.
“Orascom” announced that they have planned to invest USD 1.1 billion in construction of a great number of hotels and other catering facilities within the next few years.
It is not reported yet how much “Orascom” offered to the Government for purchasing 90 % stake in the company “Lustica Development”.
From the total number of employees the consortium intends to hire, nine thousand of them would be engaged in the hospitality sector. By this project, it is planned to generate revenues of EUR 235 million out of additional attractions.
According to the project for development of Lustica, a hotel resort with 3.32 thousand beds, a golf course, three marinas – the main marina with 100 berths and two small marinas, schools, hospitals, restaurants, cafes, shops and handicraft-and-service center will be built.
“Orascom Hotels& Development” runs a successful business in Egypt, Oman, Jordan, UAE, Switzerland, Mauritius, and Morocco, with plans to enter additional countries. The company built a luxury resort El Gouna on the Red Sea coast.