Tivat, (MINA-BUSINESS) – According to Lustica Development, more than €600 million has been invested so far in the Lustica Bay project, out of a total planned investment of €1.6 billion.

 

“Guided by the vision of modern Mediterranean living, Lustica Bay is currently being developed across four neighbourhoods, each with its own atmosphere, rhythm, and role in shaping an entirely new city in the making. We invest more than €100 million annually to ensure Lustica Bay grows as a sustainable community, rich in infrastructure, amenities, and a lifestyle that blends local values with modern standards,” the company stated in a press release.

 

They added that approximately 25 percent of the project is currently completed. This is Montenegro’s first greenfield investment, with a projected value of €1.6 billion.

 

“Lustica Bay is now home to over 700 families from more than 50 countries, as well as 35 commercial tenants, both from Montenegro and abroad,” the company said.

 

Once complete, the city will accommodate over 6,000 residents and feature more than 3,000 apartments, 300 luxury villas, seven hotels, including The Chedi, and a 4.9-kilometre-long Lungo Mare promenade.

“The project is distinguished by its commitment to sustainability. With its strategic location and high-quality amenities, it offers an exceptional investment opportunity on the European map. The traditional stone houses of the Lustica Peninsula served as inspiration for the elegant residences in The Peaks,” the company explained.

 

The press release states that the 18-hole golf course was designed by Gary Player, one of the most influential figures in golf course design. 

 

“The Golf Driving Range is operational, the first three holes are ready, and full completion is planned by the end of 2028. It will be among the exclusive 10 percent of courses globally that offer sea views from every hole,” the company said.

According to the press release, Lustica Bay promotes sustainability in every aspect of its development.

 

Lustica Development has so far allocated €2.78 million to corporate social responsibility projects, supporting the local community through long-standing cooperation with the Municipality of Tivat and numerous initiatives in culture, education, sports, and environmental protection.

 

Lustica Bay is one of the major employers in the region and a strong driver of the local economy.

“Lustica Development, together with The Chedi hotel, currently employs 636 people, including 245 from the Bay of Kotor and 165 from Tivat. During the summer season, we hire approximately 300 seasonal workers, around half of whom are from the local community,” the company stated.