Project Teaser

Croatian tourism is achieving continuous growth in the past decade!

BASIC INFORMATION

Project name Pašman resort
Estimated value 500.000.000 EUR ( The minimum required investment is 300.000.000 EUR ) 
Project sector Real Estate / Tourism & Hospitality
Project Location European Union, Croatia, Zadar County,
Municipality of Pašman – South side of Pašman island – located in the middle of Croatian Adriatic coast
Traffic connection Excellent connection of the island of Pašman with the mainland with a modern port and very frequent ferry connections and direct connection with the highway ( via Preko or Tkon ). Planned bridge mainland – island Pasman. Zadar International Airport (approx. 20 km)
Project owner Municipality of Pašman
Project developer (consultant) Hosting International LtD

THE PROJECT

Project IDEA Pašman Resort will be renowned for its community spirit. The project strongly encourages 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 the people. Pasman Resort is a 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 (about 7,5 ha of land within tourist zones is owned by private individuals).
Project ZONE Project area is 235 ha with 100 ha of tourist zones (2 zones per 50 ha with a maximum possible accommodation capacity of 2500 beds, a total of 5000 beds), logistic zone 5 ha and 130 ha of agricultural and recreational zones, of which 80 ha are foreseen for the potential golf course.
Project SCOPE The purpose of the land for the Project is defined by the Spatial Arrangement Plan of the Pašman Municipality, Amendments and Supplements 2015/2020.  ( The Hospitality-tourist purposes zones are defined in Articles 115 to 120 and the Business purpose zone/Logistic zone is definied in Articles 109d to 109h)

The Spatial Arrangement Plan defines the general conditions for construction and arrangement for all separate zones of hospitality-tourist purposes outside the settlement. Some of the important determinants of the Spatial plan are presented below:

  • one spatial unit within a separate construction area of hospitality-tourist purposes cannot be larger than 15 ha
  • construction of accommodation buildings must be planned at least 100 m from the shoreline
  • plan walking paths, green areas, sports-recreation and accompanying hospitality contents within the shore strip of 100 m, and functionally connect such contents to the beach strip
  • plan and construct buildings which will follow the expression of traditional Dalmatian architecture in terms of material and shape
  • in the hospitality-tourist purpose zones it is permitted to plan installations for production of electrical and thermal energy from renewable sources for the needs of the zone. The installations for energy production can be placed as roof or façade installations, installations within parking areas etc.
  • small nautical tourism ports with clearly defined public space may be formed in tourist zones. The capacity of such ports must be adjusted to the capacity of the tourist settlement. Tourist zone with a port must be treated as a unique urban unit.

Special conditions for construction and arrangement of construction areas of hospitality-tourist purposes in the area South Pašman

  • maximum number of floors: basement + lower ground floor, ground floor, first floor.
  • the permitted height of buildings is 7.50 m. Exceptionally, certain constructional elements may be higher, but no higher than 12.0 m (towers, patrol towers, infrastructural elements, recreation and sports equipment)
  • the maximum zone lot coverage is 30%
  • the maximum exploitation of above-ground floors in the zone is 0.5. The total coefficient of exploitation in the zone is 0.8
  • anticipate an area for gathering with central contents
  • secure at least 40% of the surface of every building lot for park areas and greenery

up to 30% of accommodation units can be planned as hotel accommodation under the following conditions:

  • maximum number of floors: basement + lower ground floor, ground floor, second floor
  • the permitted height of the hotel building is 10 m.

The separate ​​logistic zone defined by the  Spatial Arrangement Plan outside the settlement building area (K) is a construction area of ​​a business park for the construction and development of service, commercial and utility-service contents in the function of the planned hospitality-tourist purpose – South Pašman (T2). The planned zone covers an area of ​​up to 5,0 hectares.

Project documentation Available project documentation includes:

  • Spatial plan of the Municipality of Pašman (main documentation basis that represents mandatory conditions).
  • Conceptual solution of the Project (only informative and not mandatory)

Investors will draft their own Conceptual solution of the Project in alignment with the Spatial plan of the Pašman Municipality.

CONTRACTUAL PRINCIPLES

Investors will acquire all business shares in the project company Pašman Rivijera Ltd. The Project company will have the “building right” 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 Riviera Ltd. will, after construction, be the owner of all buildings (hotels, villas, apartments, service facilites, recreational facilities…), while the owner of the land will remain the Municipality in accordance with the Property law.

After expiry of the „Building right“ (99 years), the Municipality is obliged to reimburse the company Pašman Riviera Ltd., owned by investors, for the market value of all built property (Property law, Article 295/Paragraph 3), or extend the „Building right“ for a sufficient number of years, but this time without paying a fee. Upon final expiry of the period of the „Building right“, Pašman Riviera Ltd. will return the land and the buildings to the Municipality’s possession and ownership (Property law , Article 295/Paragraph 1).

OBLIGATION MATRIX

Pašman Municipality obligations

Investors obligations

Land is “right to build” ready

Recapitalization of project company and nominated costs of project development to date (which include transaction/success fee) payed after contract signature.

Access road and infrastructure corridor ready for construction

Regular payment of the “right to build” fee and land lease fee

Functional “Helpdesk” and  project incentives implemented

Upon entering the Project, investors are obliged to develop a detailed conceptual design as a basis for the development of the Urban Plan

Urban plan adopted in 1 year period

Obligation to build the basic infrastructure of the area and a minimum part of the planned hotel and tourist capacities and other tourist facilities within 10 years

Determining the sea border

Commercialization of the Project during contract period. Obtaining the Concession for utilizing maritime goods (with full support from Pašman Municipality)

TENDER CONDITIONS

The right to participate in the tender – Payment of the amount for the purchase of the tender documentation (100.000 EUR)
– Bank guarantee (2.000.000 EUR)
Bid selection criteria “Building right” fee ( 80% )  +  Land rental fee ( 20% )
– Initial minimum annual fee for the “Building right”  on leasehold land is 0,40 EUR per m2 ( Building land – T2 )
– Initial minimum annual  land rental fee  is 0,01 EUR per m2 ( Agriculture land )
( with 2% annual adjustment )
The higher offer gets more points
Additional selection  criteria in case of 2  or more same offers The amount of planned investment in the Project

Offering a higher amount of planned investment in the Project gets more points

IMPORTANT ANNOUNCEMENTS

Current Project status The Project is looking for an investor!
Public tender announcement Immediately after receiving a statement of interest from potential investors
Bid selection and start of the Project realization