Project Teaser

Croatian tourism is achieving continuous growth in the past decade!


Project name Pašman resort
Estimated value 420.000.000 EUR ( The minimum required investment is 250.000.000 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


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 Project scope is proposed according to the Conceptual plan of the Project which is included in the 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 50 Ha and potential golf course (80 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 the Municipality of Pašman (main documentation basis that represents mandatory conditions).
– Conceptual plan of the Project (only informative and not mandatory, investors can draft Conceptual solutions of the Project in alignment with the Spatial plan of Pašman Municipality).


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).


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. The structure of payment of nominated costs in installments will be agreed with the project consultant.

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 TENDER CONDITIONS Pašman Municipality)


Financial indicators for proposed project scope are calculated on discounted cash flow ( d=3,22% ), /The impact of a potential golf course was not considered/:

  • Estimated value of investment: 420.000.000 EUR
  • Project observation time frame: 25 years
Financial indicators Principal scenario  (d = 3.22%) Alternative scenario  (d = 10%)
NPV 896.185.760 € 139.834.471 €
IRR 14.18% 14.18%
Payback period 12 years 12 years
Residual value after 25 years € 583.186.449 €


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


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