As Poslovni Dnevnik writes on the 7th of March, 2019, well known Split entrepreneur Jozo Parčina, perhaps best known to the wider public as the owner of the beautiful Luxe Hotel in Split, could soon become the owner of the “Kaštela Riviera”.
Not even three full years after the launching of bankruptcy proceedings over the defunct Kaštela company, they acquired the conditions for the sale of their property, which is largely under a mortgage, among which the most prized is the hotel “Palace”.
The interest in buying was confirmed to Slobodna Dalmacija by Parčina himself, who in the meantime redeemed the receivables of the Austrian HETA agency, a successor to Hypo Bank.
”I have redeemed the HETA receivables because I want to buy a complex in Kaštela, invest 40 million euros in its renovation and upgrading, put the hotel in order and employ 150 people,” said Parčina when discussing the plans, adding that it would be a four or five-star hotel, and would boast up to 350 rooms.
The renovation refers to the only remaining building, the old “Palace” building with 230 rooms, protected as a cultural monument, and another new building. Since the surface areas of the complex in Kaštel Stari, located on the shore, is about 38,000 square metres in size, a building larger than the existing one will be permitted.
”I’m already in the hotel business. With “Luxe”, which has been in operation for ten years, another hotel in Split is being prepared, where works are going to be finished soon, so I’d like to expand this activity by buying a complex in Kaštela,” added Parčina, who in the meantime has invested in some real estate which he now rents out.
In earlier years, Jozo Parčina was known to the general public as the owner of a company which dealt with various gambling machines located across Dalmatia and Istria, this business was eventually shut down by tax collectors and by the Croatian Government in 2016.
If he succeeds in purchasing the “Kaštela Riviera” property, Parčina estimated that from the moment of everything being ready for work, it would take up to three years for the investment to be realised. Assets will be sold in bankruptcy proceedings through the Financial Agency (FINA) so it’s clear that the real estate will go to whoever is willing to pay the most.
Make sure to stay up to date by following our dedicated business page.
