Dogus Group to Invest in Šibenik Shipyard

Total Croatia News

They are also looking into marina Zadar, a Split hotel and opening the Nusr-Et restaurant chain in Zagreb

Turkish investor Dogus Group may soon, unofficially stated, realise a new acquisition in Croatia, specifically the NCP overhaul shipyard, located near their resort and marina in Šibenik. This way, sources said, they would complete the offer for their guests, but also make use of the know-how of the Croatian shipbuilding industry, Poslovni Dnevnik wrote on July 18, 2016.

They have recently taken over a large shipyard in Barcelona where mega yachts of up to 200 metres in length are overhauled, so they plan to develop the same business in Croatia. They do not hide their interest in taking over the ACI company, where they already hold 10.87% share, while sending in an offer for marina Zadar, whose sale is disputed by Tankerkomerc company.

In the meantime, the Turks are renovating the Maraska factory building into a luxury hotel to be run by the Hyatt brand. The project includes a hotel and additional retail and entertainment services worth 100 million Euro, so the total investment of the Turkish group in seven year will grow to 350 million Euro, while employing 500.

The Dogus Group is also considering buying a hotel in Split, but are keeping the name silent. They recently acquired a business building in Zagreb and reveal they will open one of the famous meat restaurants from Turkey – Nusr-Et, which due to the originality of its founders gained cult status.

The group has around 300 companies and runs property valued at 109 billion Euro, while recently selling 15% share in the Turkish Garanti bank for 2.5 billion USD and has since strongly invested in tourism. So far they have eight hotels and 19 hotels under management as well as 11 nautical marinas, with significant expansion planned. They are buying hotels such as Villa Magna, a famous hotel in Madrid, while explaining they are creating a collection of recognisable global hotels they will unite under one umbrella. They do not wish to create a hotel chain, but a pool of luxury hotels under one company. Hence in Croatia they are looking for a hotel to be part of that anthology. Their income in Croatia is around 30 million Euro annually in two hotels and three marinas, but are far from a return on investment.

“We are far from expected income, but are in no rush and are not unsatisfied. We are ready to wait and invest,” said group owner Ferit Şahenk who often emphasises he believes in Croatian potential and that Croatia must move in the direction of developing tourism for high-paying guests.

He repeated that he plans to bring to Croatia world renown regattas and boat races, but that our coast is still unknown to guests looking for luxury destinations. The tourism segment of the Dogus Group is facing just that type of guests, while Şahenk claims it is crucial to create the same level of service in every facility or destination on the market to maximise profitability. This is why investors must work with the community and develop the destination, not just their investment as without that synergy there is no long term success.


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