Orascom picks US firm for Montenegro resort
First phase of $1.37bn resort to be a mixed use, with shops, restaurants and marine biology institute
Orascom Development Holding has selected US-based SB Architectsfor the first phase of its $1.37bn luxury resort community on an island in Montenegro.
The Lustica Bay Marina Village project is the first phase of the resort. 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.
The development is 90% owned by Orascom Development Holding, controlled by Egyptian businessman Samih Sawiris, while the remaining 10% is held by the Government of Montenegro.
