Government to found Lustica Development
21.03.2008
The Government of Montenegro reached a decision on founding a company AD Lustica Development, the main activity of which will be tourism and hotel industry. The new company will be in charge of managing a few million sqm of state land in the attractive peninsula of Lustica, in which construction of hotels, mansions and marinas is planned.
After the founding, the Government planned to invite tenders for the capital increase of the new company, through which an international strategic investor would become the owner of 60 percent of Lustica Development. The founding capital for the company is EUR 25,000, and nominal value of a share is EUR 1.