Luštica Bay’s proposition is simple and ambitious: a greenfield coastal town set across 7 million square meters, master-planned as seven distinct villages, all anchored by seven hotels, a marina, and Montenegro’s first 18-hole championship golf course, designed by Gary Player. Execution has been phased but steady, with early infrastructure turning what was once a scrubland peninsula into a year-round destination.
“From the moment we first saw the land here, the plan was always to create a fully integrated town,” says Slavica Milić, Luštica Bay’s Marketing and Communications Director. “Today, we are proud to have two fully operational villages—Marina Village and Centrale—with infrastructure in place such as the medical facility, administrative center, and sports amenities. We said we would do it, and we did it. Delivery matters.”
Momentum is now oriented towards the golf course, with the project’s progress—the first three holes are already open, along with a clubhouse and restaurant—serving as further proof of delivery for potential investors seeking tangible, year-on-year progress.
The Yield of a Year-Round Life
The new golf course is also central to smoothing seasonality, as Milić explains: “The vision is for Luštica Bay to be the prime destination in the Adriatic region. To achieve that, we need to be a 365-day town, and that’s where facilities and experiences like the course come in. Golf will shift us from a summer-centric retreat to a place people visit throughout the year.”
Indeed, Luštica Bay caters to both tourism and residential demand, with a growing base of permanent homeowners. Around 700 residences have been sold in the Marina Village neighborhood, with nearly 20% of owners either living there most of the year or spending four to six months on site.
An Opportunity for Partners
Luštica Bay’s long-term hospitality plan calls for seven “high-quality, high-caliber” hotels. Its identity is inspired by a strong connection to the land and its people. “Most of our team is local, including senior leadership. That authenticity matters,” says Milić.
Set at the entrance to the UNESCO-listed Bay of Kotor and facing the open waters of the Adriatic Sea, Luštica Bay is positioning itself as a new benchmark for high-end coastal real estate.
A Town Shaped by the Land
The destination’s development model also welcomes co-partners looking to establish hospitality assets and accelerate the town’s master plan. “As a group, we can bring our own capital and know-how. But we are certainly open to investment and partnerships,” says Milić.
“When speaking to potential investors,” she adds, “we always start with the macro story of Montenegro, then layer in Luštica Bay’s delivery record and the strength of the group behind us.” That group is controlled by Orascom Development together with the Government of Montenegro. “The stability of that partnership gives investors confidence.”
Luštica Bay’s master plan caps the development footprint at roughly 10% of the site—about 6% direct construction, with the remainder dedicated to infrastructure and essential community facilities such as schools and healthcare. “Everything else stays the ‘green of the bay’,” says Milić. Architecture is locally inspired; excavated stone is reintegrated into retaining walls; and neighborhoods are designed to blend with the terrain rather than dominate it.
“People love becoming part of something more than bricks and mortar. We now have more than 50 nationalities among homeowners, but the town’s identity is rooted in a strong connection to the land and its people,” she adds.
“You can only truly feel the uniqueness of this place when you’re on the ground. Come. Explore. See the golf course. Have dinner by the waterfront. Play padel. Go to one of our many beaches. Talk to the community—international homeowners and locals. People feel like they belong here, and we’re only just getting started.”
As the town advances through its next milestones—additional hotel keys, expanded golf play, and new neighborhood phases—the investment thesis remains grounded in disciplined delivery, sustainability by design, and a community that feels lived-in rather than staged. “Every day brings a new step forward,” says Milić. “We welcome partners and owners who want to shape this town and call it home.”
