Luštica Bay is the largest and most ambitious investment project on the Montenegrin coast. According to the developer, more than 600 million euros, and only completed so far 25% from the total project development. The total investment volume can reach 1,6 billion euros, making Luštica Bay the largest greenfield project in the country.
New city by the sea
Project Lustica Bay is implemented on the territory of 7 million square meters in a picturesque bay on the Lustica Peninsula. It is the first fully planned city in Montenegro, built from scratch. The developer is the company Lustica Development, a joint venture between the Government of Montenegro and an international group Orascom Development Holding (Switzerland and Egypt).
Construction is planned:
- more than 3 residential properties: apartments, residences, luxury villas;
- 8 hotels, including the one already in operation The Chedi Lustica Bay (opened in 2018);
- harbors with 220 berths;
- the first golf course in Montenegro 18 holes;
- public and medical infrastructure facilities, educational institutions, shopping and sports areas.
To date, built first marina, five equipped beaches, major road junctions and more 1 properties sold.
World-Class Golf Resort: The Peaks
One of the key innovations will be the first golf course in Montenegro, located in the area The Peaks — an exclusive residential area with panoramic villas and apartments.
The field project has been developed legendary South African golfer Gary PlayerIt will consist of 18 holes with a view of the sea, and the field itself is included in the number 10% of the most exclusive golf locations in the world.
- The first phase of the field is already ready, full completion is expected by end of 2028, and the opening is in season 2029.
- The golf resort will also feature five star golf hotel, focused on MICE tourism (conferences and events), the wellness segment and premium leisure.
High demand for real estate: sales even before construction is completed
According to information from Luštica Development, most of the new properties are already being sold out at the design stage. The average cost varies depending on the type of housing, area and location - from from several hundred thousand to several million euros.
Investors and buyers are coming from more than 50 countries, which makes the project globally in demand. At the same time, the demand has been consistently high for several years in a row.
Marina, Beaches and Lifestyle
Today, Luštica Bay has a marina with 115 berths (up to 45 m long), and new zones are also being equipped with:
- 5 beaches — Chedi, Almara, Pecka, Marina, Azzure;
- restaurants, shops, cultural spaces;
- convenient internal navigation, including water taxi to the beaches.
Luštica Bay is already actively hosting cultural and musical events – one of the latest was a concert Vasil Khadzhimanova, which took place outdoors in a new residential area.
Sustainability and environmental responsibility
Luštica Bay is being built with ESG principles, sustainability and environmental integration:
- being built up only 10% of the territory, the rest remains natural;
- used local stone and materials, including manual processing;
- The Chedi Hotel is in the process of receiving Zero Waste Certifications, with the aim of achieving carbon neutrality by 2030.
In addition, the project actively supports local communities, investing in education, sports, and culture. The total investment in social responsibility projects has already reached 2,78 million euros.
Economic impact: jobs and local benefits
At the moment Luštica Bay provides 636 permanent jobs, of which more 400 - residents of Boka and TivtDuring the summer season, up to an additional staff is hired. 300 temporary employees.
Project has a positive effect to develop tourism, the domestic economy and position Montenegro as a sustainable and premium destination for living and investment.
