Luštica Bay: over €600 million in investments and the launch of a golf course in 2029
Luštica Bay is the largest and most ambitious investment project on the Montenegrin coast. According to the developer company, more than 600 million euros have already been invested in construction, while only 25% of the total planned development has been completed so far. The full scope and...
Luštica Bay is the largest and most ambitious investment project on Montenegro’s coast. According to the developer, more than€600 millionhas already been invested in construction, while only25%of the total planned development has been completed so far. The full volume of investment could reach€1.6 billion, making Luštica Bay the country’s largest greenfield project.
A New Town by the Sea
TheLuštica Bayproject is being developed on an area of7 million square metersin a picturesque bay on the Luštica Peninsula. It is the first fully planned city in Montenegro, being built from scratch. The developer isLuštica Development, a joint venture between the Government of Montenegro and the international groupOrascom Development Holding(Switzerland and Egypt).
Planned construction includes:
more than 3,000 residential units: apartments, residences, luxury villas;
8 hotels, including the already operatingThe Chedi Luštica Bay(opened in 2018);
marinaswith 220 berths;
Montenegro’s first golf coursewith 18 holes;
public and medical infrastructure facilities, educational institutions, retail and sports areas.
To date, the following have been completed:the first marina, five equipped beaches, main road connections, and more than1,000 sold properties.
One of the key new additions will beMontenegro’s first golf course, located in theThe Peaksarea — an exclusive residential zone with panoramic villas and apartments.
The course was designed bythe legendary South African golfer Gary Player. It will consist of18 holeswith sea views, and the course itself is among the10% most exclusive golf locations in the world.
The first phase of the course is already complete, with full completion expected by theend of 2028, and opening planned for the2029season.
The golf resort will also include afive-star golf hotel, aimed at MICE tourism (conferences and events), the wellness segment, and premium leisure travel.
High Demand for Real Estate: Sales Before Completion
According to Luštica Development, most new properties are soldat the design stage. Average prices vary depending on the type of housing, size, and location — fromseveral hundred thousand to several million euros.
Investors and buyers comefrom more than 50 countries, making the project globally in demand. Demand has remained consistently high for several years in a row.
The Marina, Beaches, and Lifestyle
Today, Luštica Bay operates a marina with115 berths(up to 45 m in length), and new areas are also being developed with:
5 beaches— Chedi, Almara, Pecka, Marina, Azzure;
restaurants, shops, and cultural spaces;
convenient internal transport, includingwater taxito the beaches.
Luštica Bay is already actively hosting cultural and music events — one of the latest was a concert byVasil Hadžimanov, held outdoors in the new residential district.
Sustainable Development and Environmental Responsibility
Luštica Bay is being built in line withESG principles, sustainability, and environmental integration:
only 10% of the territoryis being developed; the rest remains natural;
local stone and materials
are used, including hand finishing;The Chedi hotel is in the process of obtaining
Zero Waste certification
, with the goal of achievingcarbon neutrality by 2030.
In addition, the project actively supports
local communities
, investing in education, sports, and culture. The total investment in social responsibility projects has already reached€2.78 million.
Economic Impact: Jobs and Local Benefits
At present, Luštica Bay provides
636 permanent jobs
, of which more than400 are held by residents of Boka and Tivat. During the summer season, up to300 temporary employeesare additionally hired.The project
has a positive impact
on tourism development, the domestic economy, and Montenegro’s positioning as a sustainable, premium destination for living and investment.положительно влияет на развитие туризма, внутренней экономики и позиционирование Черногории как устойчивого и премиального направления для жизни и инвестиций.
