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BESIX Group and Luštica Development AD Company have signed a binding Memorandum of Understanding to enter into a joint venture to develop and construct the Chedi Luštica Bay Montenegro hotel and a number of residential blocks. BESIX is the main contractor for the construction of the existing residential part of Luštica Bay, the integrated tourist town that has been developing on the Tivat part of Luštica peninsula.
The Chedi Luštica Bay Montenegro hotel will be the largest 5-star hotel in the Boka Bay area and is located in a prime waterfront location in the Luštica Bay marina enjoying expansive views over the marina and the Adriatic Sea. It will feature 110 rooms, 2 restaurants, a bar, a conference and business center, an outdoor pool, a luxurious spa and fitness center with indoor pool and gymnasium and other supporting facilities.
The hotel design is derived from the characteristic features of the Montenegrin coastal villages while delivering the quality and experience of a luxury resort. This will result in a unique hotel, with a strong sense of place rooted in the history of the area with the modern sense of style.
Johan Beerlandt, Chairman of the Board of BESIX Group, states: ”BESIX has been working on the Luštica Bay luxury development project since 2012. Early 2015 we delivered the first residential phase with success and the client subsequently entrusted us the second and third phase of the development, the latter on a Design & Build basis. We are thrilled that our commitment, project management and value engineering approach have prompted Luštica Development to entrust us an additional landmark project. We are honoured to add this reference to our track record of luxury hotel developments.”
Darren Gibson, CEO of Luštica Development, states: “In signing this memorandum, we have created the formal framework for the establishment of a joint venture that will see the first of seven hotels in our complex – The Chedi Luštica Bay and adjoining residential real estate, developed together with BESIX. This partnership builds on a relationship that has firmed during the recent years of construction activity in the project. We are delighted that the cooperation between our two companies has further intensified. This deal also enhances the reputation of Lustica Development as a capable and reliable development partner and reaffirms the attractive investment environment it is creating in the Luštica Bay project.”