The company Luštica Development is planning the development of a new residential area, The Peaks, in which approximately EUR 400 million will be invested over the next 10 years. As announced at the press conference, 130 villas, 520 apartments, a golf hotel with 300 keys and a golf club will be built on the area of about a million square meters of golf course and settlement.
The executive director of development at the company Luštica Development, Darren Turner, said that the first golf residences in Montenegro are already available on the real estate market with the aim of consolidating this part of the project of the new city on the Adriatic to Montenegro as an eminent tourist destination.
– With the development of The Peaks settlement, Luštica Bay will be at the very top of residential and tourist destinations not only in the region but also in Europe. The first residences, Botanika, are located on the locations of the first two holes of the golf course, which is considered prestigious in the global golf world. They already highlight what is the most important feature of The Peaks settlement, which is an incredible view of the sea, from every position, whether it is the residences or the holes of the golf course – said Turner.
Botanika, which has seven villas, 12 town houses and 39 apartments, will receive its first residents at the end of next year. Previously, in the first half of 2024, the opening of a golf practice area with an academy is expected. The 18-hole championship golf course is planned to be built in phases over the next six years. The first nine holes are expected to be completed by 2026, and the remaining nine in the next two.
The master plan envisages that in the next ten years, with an investment of around EUR 400 million, 130 villas, 520 apartments, a golf hotel with 300 keys and a golf club will be built on the area of around a million square meters of golf courses and settlements.
– So far, five million euros have been invested in the golf course. It took us at least three years for this phase, and the earthworks for the first nine holes have been completed – said Turner.
As he stated, the golf course not only provides a great view for golfers and visitors to the course, it is also a good backdrop for the community that will be created on its perimeter.
– We strive to maintain ecological practices, green roofs, reduce our carbon footprint, and provide a comfortable stay and a great view in all of these units. The hotel, which was designed on the golf course, is strategically positioned to have a good view of Trašte Bay and has the potential to be a center of conference tourism – underlined the executive director, adding that the goal is to extend the main tourist season to six months.
In a period of ten years, five phases will be implemented, and the first one includes Botanika – seven luxury villas, 39 apartments in four buildings, 12 town houses with unobstructed sea views. The project will be implemented according to the vision of the architectural studio from Greece Block 722 and the domestic NRA Atelier.
– We can proudly say that the architecture of this climate was taken as inspiration. Luštica and the typical Luštica house, as the main characteristic of Botany in the architectural sense, are experiencing a boom with this settlement with an exceptional view of the sea. We believe that this is an
investment opportunity that delights even the world’s most discerning investors – said Elena Ljiljanić, marketing manager at Luštica Development.
Director of Development Darren Turner reminded that the Luštica Bay master plan includes significant projects in the coming years.
– The project is planned to include over 450 villas and townhouses, up to seven hotels, and the plan is to become a port of entry and to open a second marina for those needs. We must also point out the 4.9 km Lungo Mare promenade by the sea, which offers visitors a unique experience of walking through the settlement. We are currently looking for investors who would invest in health infrastructure in order to open a hospital.
Such an ambitious project will bring many benefits for Montenegro and its economy, while taking into account the highest standards of ecological sustainability of the land entrusted to Orascom to manage.
– We feel privileged to be entrusted with the management of this kind of land, and we have a great responsibility to be careful with this space, to apply green, sustainable practices when building this community. Luštica Bay significantly contributes to the growth of tourism in Montenegro and the valorization of the potential that this country has. When we add the golf course to that, there will be a possibility to extend that season to six months – said Turner.
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