Project Teaser

Croatian tourism is achieving continuous growth in the past decade!

BASIC INFORMATION

Project name Pašman resort
Estimated value 500.000.000 EUR – 600.000.000 EUR
Sector Tourism
Project Location European Union, Croatia, Zadar County, Municipality of Pašman
South side of Pašman island – located in the middle of the Croatian Adriatic coast with more than 1000 islands.
Project owner Municipality of Pašman
Project developer (consultant) Hosting International LtD

PROJECT CONCEPT

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. Pašman 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.
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 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 70 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 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 the 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 the project company and nominated costs of project development to date paid immediately 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

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

Commercialization of the Project during contract period

Determining the sea border

Obtaining the Concession for utilizing maritime goods (with full support from Pašman Municipality)

COMPETITION 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 First recapitalization (minimum EUR 5.000.000)  +   Number of permanent employees

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

IMPORTANT ANNOUNCEMENTS

Current Project status The Project is looking for an investor!
Public tender announcement May 2020.
Bid selection and start of the Project realization September 2020.