Project Teaser

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BASIC INFORMATION

Project name Pasman resort
Estimated value 430 million EUR
Sector Tourism
Project Location European union, Croatia, Zadar County, Municipality of Pasman
South side of Pasman island – located in the middle of Croatian Adriatic coast with more than 1000 islands.
Project owner Municipality of Pasman
Project developer (consultant) Hosting International LtD

PROJECT CONCEPT

Project IDEA Pasman Resort will be renowned for its community spirit. The project strongly encourage integration, social interaction and the formation of close ties amongst community members. The local workforce, local residents and holiday makers share the same facilities and environment and develop the same passion for the land, the culture and people. Pasman Resort is the place where different cultures merge and live the Mediterranean dream. The well-being of the local population has been given special attention. Local people will have the opportunity to open and run businesses within the resort and employment opportunities are varied and range from farming to managerial positions.
Project ZONE Project area is 260 ha with 100 ha of tourist zones (2 zones per 50 ha),  logistic zone 5 ha and 155 ha of agricultural and recreational zones.
Project SCOPE Project scope is proposed according to Conceptual  plan of Project which is included in Spatial plan of Pašman Municipality and includes:

Soline Bay
Hotel 4* (800 beds), Conference centre ,Vilas (6 units/60 beds)/ Town houses (110 units/572 beds), Apartments (116 units/568 beds), Wellness Centre, Harbour for 200 berths, Fisherman harbour for 20 boats, Maritime Club, Diving & Water ski centre, Bowling centre, Town centre (Food & Beverage, Retail, Services – Post office, Bank, Info desk, Entertainment – discotheque, bowling and Square), Artificial beach,  Outdoor sport courts, Boccia field, Amphitheatre , Equestrian club, Agricultural House, Botanical House

Zincena Bay
Hotel 7* (160 beds  Spa&Wellness, Meditation garden, Viewing platform, Artificial beach, Outdoor sports courts), Hotel 5* (260 beds, Spa&Wellness, Artificial beach, Outdoor sports courts, Food & Beverage, Retail, Square, Aqua centre with thermal Riviera), Vilas (36 units/226 beds) / Town houses (109 units/604 beds), Apartments (103 units/750 beds), Star Observatory, Town centre (Food & Beverage,  Retail and Square), Academy of traditional living,  Outdoor sport courts, Sports centre,  Playground and kindergarten

Recreational & agriculture area
Viewing platforms and rest areas, Jogging trails and pathways and landscaping (parks, promenades, landscaping, outdoor lightning, olive groves, vineyards and other Mediterranean cultures) about 100 Ha

Logistic zone
Main entrance, Logistic centre, Administration, Central laundries and Fire station, Heliport, Garage, Service garage, Supermarket, Water reservoir

Supporting infrastructure
includes Main roads, Roads within the zone, Drainage, Sewerage system, Sewage treatment with sewage purifier  Water supply, Electrification and Telecommunication
Project documentation Available project documentation includes:

  • Spatial plan of Municipality of Pasman (main documentation basis that represents mandatory conditions).
  • Conceptual plan of Project (only informative and not mandatory, investors can draft Conceptual solutions of Project in alignment with Spatial plan of Pašman Municipality).

CONTRACTUAL PRINCIPLES

Investors will assume all shares in project company Pašman Rivijera Ltd. Project company will have right to build within the tourist zones and service-logistic zone for 99 years and contracted land lease of agricultural and horticultural surrounding zones for 99 years. Pašman Municipality retains land ownership during contractual period.

Risk matrix

Pašman Municipality risks

Investors risks

Land is “right to build” ready

Recapitalization of project company and nominated costs payed immediately after contract signature

Access road and infrastructure corridor ready for construction

Regular payment of right to build fee and land lease fee

Functional “Helpdesk” and  project incentives implemented

All construction permits obtained in 5 years period

Urban plan adopted in 1 year period

All usage permits obtained in 10 years period

Completed parcelling of tourist zones

Commercializing project during contract period

Determining the sea border

Obtaining a concession for utilizing maritime good (with full support from Pasman Municipality)

COMPETITION CONDITIONS

Qualification criteria The minimum annual turnover in each of the past three accounting years may not be less than
EUR 250,000,000

Available financial resources necessary for recapitalization of the project company in the amount of
EUR 20,000,000

Achieved investments in commercial, hotel tourist and/or residential real estate projects of at least EUR 100,000,000
Bid selection criteria Construction right fee ( 80% )  +  Land rental fee ( 20% )
The higher fees gets more points
Additional selection  criteria in case of 2  or more same offers First recapitalization (minimum EUR 20.000.000)  +   Number of permanent employees

The higher value  for first recapitalisation and higher number of permanent employees gets more points

IMPORTANT ANNOUNCEMENTS

Current Project status Project is looking for an investor!
Public tender announcement December 2017.
Selection of capable investors March 2018.
Bid selection and start of Project realization October 2018.