Lustica Bay, an emerging Montenegrin town offering brand new residences, hotels, berths and golf courses on the Adriatic coast, has announced plans for its second village and town center, Centrale.
The new development will act as the commercial and administrative hub for the entire development and will be the essential connector between new residential areas, leisure facilities and neighboring villages.
Eventually, Centrale will be able to support a population of 3,500 during the peak summer months with up to 1,000 permanent residents staying throughout the year. Residential apartments will be built alongside public buildings such as boutique shops, restaurants, bars and galleries.
The announcement marks a significant step in the development of Lustica Bay, which last year saw the launch of The Chedi, a five-star luxury resort sitting idyllically on the picturesque coastline.
Chief Executive of Lustica Bay, Darren Gibson, commented: “Lustica Bay aims to sell not only secondary and vacation homes within Centrale but also become a home for permanent residents, a vital part of creating a prospering all-year round community.
“Designed to impeccable standards and inspired by traditional Montenegrin architecture, the properties blend the old with the new, the comfortable with the cutting edge for an active and healthy lifestyle on the Adriatic Sea.
“After such as successful milestone in 2018 with the completion of Marina Village, including the launch of The Chedi – the first of seven hotels, and the main marina, we are very proud to be announcing Centrale – set to become the beating heart of Lustica Bay and coastal Montenegro.”
Investors will be attracted by the opportunity to own a piece of Montenegrin real estate with the Balkan country showing strong increases in property value in recent years as well a competitive tax system and economic stability. Montenegro is also pursuing membership to the European Union and NATO and buyers can acquire citizenship if their investment meets a certain threshold.