Luštica Development A.D. is developing a fully integrated, self- sufficient and luxury touristic destination on the Montenegrin Adriatic coast at the idyllic Trašte Bay with a land bank of 6.9 million m2, placed a short distance from three international airports (only 10 km from Tivat airport and Podgorica 90 km and Ćilipi - Dubrovnik 46 km). The Group had concluded the lease and development agreement with the Government of Montenegro and the Municipality of Tivat on the 23rd of October 2009.
The goal of Luštica Bay is to create a distinct community, within a self-sufficient extraordinary setting, where residents can create a home around the life they want to live. Combining Montenegro’s beauty and culture with Orascom Development’s experience of cultivating environmentally-centred, luxury residential living, it provides a foundation that will grow organically.
Luštica Bay is set to become a sustainable, fully-integrated, state-of-the-art town. Designed to blend seamlessly into its surroundings it will become a permanent home to a few thousand residents. It comprises a variety of residential offerings, hotels and lifestyle facilities, offering both tranquility and privacy, discovery and adventure. A secluded oasis and a gateway to the rest of Montenegro.
The integrated project is planned to offer residential units, 7 world class hotels, 2 marinas with mooring and docking support facilities on the Adriatic Sea, an 18-hole golf course with club house, commercial facilities, a town center, and basic infrastructure requirements and many other amenities.
Construction started in September 2013 and the first two buildings clusters (10 buildings comprising 70 apartments) have been fully finished and delivered in August, with residents moving in the summer of 2015. After three years Lustica Bay is now live, and growing new town project.