Orascom applied for Lustica ( 2008-09-18)
| One of the leading Arabian tourist companies Orascom hotels and development purchased the tender documentation for Lustica development, a Montenegrin state company which received almost 7m sqm in a popular peninsula near Tivat. The tender will be closed on October 14, and 90 percent of the share capital of the company is offered for sale. Ownership of 6.8m sqm of land in peninsula of Lustica in the Municipality of Tivat is registered to Lustica development. Out of that land, 6.4m is registered as state property, and 325,000 sqm as municipal. The land is intended for the development of tourism, and the future owner will have to invest at least EUR 100m. (Vijesti) |
