Construction

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.

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