Pašman Riviera: 500 Million Euro to Be Invested in Dalmatian Island

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The large-scale project has been in the works for the last ten years, now finally moving forward

Pašman Municipality launched an international tender for the project Pašman Riviera earlier this week, planning to build a new tourist destination on the southwest coast of the island, reports on December 20, 2017.

“The scope and the significance of this development project need no special introduction, it suffices to say the investment is worth around 500 million euro. [The location] represents an extremely attractive area for developing various forms of tourism of the highest category, in line with the latest trends of tourist demand [for destinations] in unspoilt nature. The tender is open until March 9, to be followed by the second stage of the project”, stated Krešimir Ćosić, the Mayor of Pašman Municipality.

According to Ćosić, they have been waiting to come out with the tender for a long time, but decided to move forward owing to recent positive trends in the investment climate. Ten major foreign investors visited Pašman lately, including a couple of interested parties from Switzerland, the UK, the US, and a consortium involving some potential investors from Croatia.

The Municipality thus decided this was the right moment for the next step in regards to the project that’s about to change the outlook of the entire island, open at least a hundred job positions, and make it possible for Pašman to develop a prestigious, attractive destination for sustainable tourism, all the while preserving the island’s nature, tradition, and cultural heritage.

They plan for Pašman Riviera to be eight kilometres long and take up a surface of 300 hectares in total. One third has been designated for future construction of hotel facilities, while the rest of the area will boast recreational facilities and agricultural plots.

The project has been in the works for the last ten years. A potential tender was first announced in 2012, when the project was presented abroad for the first time at the international Expo Italian Real Estate in Milan, organised by the Croatian Chamber of Commerce.

Earlier this year, the project was also presented at the international 2nd Adriatic Health and Tourism Investment Forum in Zagreb, sparking interest among investors from multiple continents. All things considered, said Mayor Ćosić, the large-scale project should soon be underway. 

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