Investors sought for huge Croatian resort

1Swiss developer TFI Holding is luring investors to Croatia to take part in a more than 800 million euro project to build a resort on the Adriatic coast, its chief executive said.

The Wollerau, Switzerland-based closely-held company bought 110 acres of land in Zablace, near the historic town of Sibenik, for 60 million euros and plans to purchase an additional 40 acres to develop a luxury resort with hotels, villas, shops and a marina, as well as a clinic and a school, Jean-Paul Uldry told Bloomberg.

He is now looking for investors for the future resort with as many as 2,500 beds and has toured the area with Hollywood star Brad Pitt, who he hopes may also take part in the project.

“We are looking for investors and assessing offers,” Uldry said. “Croatia is the greatest place to invest in tourism in Europe right now. It’s clean, safe, with skilled people and excellent infrastructure.”

Tourism revenue may exceed 8 billion euros this year, a record for the European Union’s newest member, according to Bloomberg. Good weather and a perception of Croatia as a safe destination contributed to the results, Tourism Minister Anton Kliman told Bloomberg last month.

Construction may start next year, according to Uldry. The developer still needs to submit plans and obtain building permits, Madlena Rosa Dulibic, head of the urban planning department in the city of Sibenik, said in an e-mailed response to questions.