Orascom Development selects architects for $1.4 bln Montenegro Resort

The US-based SB Architects group has been selected by Swiss developer Orascom Development Holding (AG) - (ODHN.CA) for the first phase of its €1.1 billion ($1.38 billion) Lustica Bay luxury resort community on an island in Montenegro, in the first recent sign that the project is going ahead.

The project, Lustica Bay Marina Village, is the first phase of the resort, located near the coastal town of Tivat at the mouth of the Kotor Bay, which has been in hiatus for nearly three years since inception, waiting for local planning permission. It is designed to have 190 residences, a 60-room boutique hotel with shops and restaurants, yacht club and marina, marine biology institute, and a restaurant in a waterfront cave. The multi-phased resort will include seven hotels with 2,200 rooms, 1,600 apartments, 750 villas, a mixed-use village with retail, school and medical clinic, two marinas, a conference centre, and Montenegro’s largest 18-hole golf course.