If everything goes to plan, the Livka Bay on the island of Šolta will soon welcome the construction of a high-end tourist resort, which includes a five-star hotel. The entire project should be completed by 2023, with infrastructural works beginning this fall, says Milenko Bijedić, head of the company Azurna Uvala which represents the investor in this project, the British investment firm Dolphin Capital Investors, reports Slobodna Dalmacija on April 10, 2019.
The total value of the entire project is estimated at over one billion kuna, of which approximately 509 million kuna is set aside for the first phase of the project, which is expected to be announced as a strategic investment project, based on Monday’s signed agreement on the preparation and implementation of the project between Azurna Uvala and the Ministry of Economy, Entrepreneurship, and Crafts.
“We announced our project as a strategic one already two years ago, and together with the Operations Group for the implementation of strategic projects, we completed the procedure to enter into the list of the strategic investment projects of the Republic of Croatia. With the new agreement, all the necessary preconditions for initiating the decision-making process of the Government of the Republic of Croatia on the designation of this project or its first phase with the strategic project of the Republic of Croatia were created. Now we are in the process of signing contracts with water and other public companies on the island of Šolta and part of Brač because much of the infrastructure is from that island,” says Bijedić.
Recall that the company Azurna Uvala was set up in Stomorska on the island of Šolta in 2005 when the project was first prepared. The company hopes that everything will go a bit quicker today and that the primary project documentation for infrastructure works are done by the summer, and that the construction permits are obtained so that they can be operationally ready to begin in the fall of this year.
“Infrastructure is the biggest challenge because, in the area where the settlement is planned, in the Livka Bay, there is currently nothing, therefore it is necessary to realize access and internal roads, provide the supply of water and electricity, and a wastewater system with all the necessary purifiers, so that we can even begin building the hotel, bungalows and more. We have not had any problems with permits so far, we have respected all the laws and regulations, however, since some have changed from 2005 until now, we have had to adapt the documentation and/or prepare a new one, such as a study on environmental protection. This has slowed down the realization of the project, and it is not very clear why they couldn’t be little more flexible with everything,” explains Bijedić.
The first phase of the project includes a hotel with a total of 109 rooms, a spa and a wellness center, a clubhouse with a restaurant, a cafe bar, a beach club, as well as 29 villas and 23 bungalows to be branded by an elite hotel operator. The realization of this first phase also plans to open up to 250 jobs.
“We already have letters of intent for the four world-renowned hotel chain operators, but it is too early to reveal their names. It is important that the project now complies with the urban planning arrangements and that we agree with HEP on everything because we will need new substations and more for the settlement and the whole project,” says Bijedić.
Bijedić also points out that the real owner and investor in the project is the British firm Dolphin Capital Investors, who is ready for this investment as soon as all papers are resolved. So far, around 183 million kuna of private equity has been invested in the development of the project.
“We consciously and with great will entered the project in 2005, and although we did not think that the realization would take so long, we still firmly believe that the project will end and that the local community and the entire island of Šolta will be the most profitable. It is important for us to support local residents as well as local authorities, with whom we work well with and we will continue to do so,” concludes Bijedić.
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