Cubus Lux, the leisure group operating in Croatia, has won a tender for a new tourism development project in the Adriatic.

The project is to develop the former military recreational resort at Valdanos at the southern end of Montenegro's Adriatic coast. Valdanos is 60 km from the inland capital of Montenegro, Podgorica, which has an international airport, and is 75 km from the airport at Tivat.

The development area comprises some 3.4 million sqm, and includes around 3 km of coastline which is believed to be the last stretch of available coastline in Montenegro.

The Company's tender submission proposes a development which would include:
 
  * A golf course, with a 4 star golf hotel (400 beds) and villas (for sale);
 
  * A 5-star beach hotel (500 beds) with villas and apartments (for sale);
 
  * A 4-star hotel (400 beds) including a Wellness centre and Spa, with villas
    and apartments (for sale); and
 
  * Amenities such as a casino, a night club, a water park, around 15 restaurants, and other communal facilities.
 
The tender was made in conjunction with an international hotel management company, an Austrian construction company, a Croatian firm of architects and an international golf course design and development company.

The next stage is for the company to enter contract negotiations with the tender commission, and once the concession contract is agreed and signed, the project planning process will commence, which is expected to take around 18 months.

The company said project finance would be sought when appropriate.

The resort is expected to create between 400 and 600 jobs locally once complete.
 
Gerhard Huber, chairman, commented:
 
"We are delighted to have won this prestigious tender. We believe that our presence in Croatia, and specifically in the Olive Island Resort project, allowed us to participate credibly in the Valdanos tender, and ultimately to win it."

For further information visit www.cubuslux.com