The bankruptcy administration will make a third attempt to sell a prime plot of land located opposite Mamula Island on Luštica Peninsula. The land, owned by Signature Investments Montenegro from Herceg Novi, covers 111,388 m² in the Morkovi cadastral area and is intended for the development of a high-end tourist resort.
The starting price has been reduced to approximately €47.4 million.
The sale conditions were set by the Creditors’ Committee on February 24, 2025. The land is undeveloped and subject to multiple registered encumbrances, including mortgages and tax claims.
Bids must be submitted by July 16, 13:00.
Previous attempts to sell the property include a tender in October 2024 with a starting price of €11.9 million, which was annulled by the Commercial Court upon creditors’ request, and a second tender in April 2025 with a starting price of €48.38 million.
The original project by Signature Investments envisioned a luxury tourist complex on Luštica’s eastern cliff above Dobreč beach, featuring hotels and apartments with panoramic views of the bay, Mamula fortress, open sea, Prevlaka peninsula, and the Croatian border.
