Six investors interested in Kupari, minister satisfied

ZAGREB, 13.3.2014.

Six potential investors forwarded non-binding expression of interest letters for reconstruction of the dilapidated tourism complex "Kupari" near Dubrovnik, the state property management office (DUUDI) reported on Thursday after it said in a statement yesterday that five non-binding offers arrived, adding that the task force for the assessment of the offers considered another one at its conference call today.

The new offer came from Avenue Group from Moscow while the other five investors are Karisma Hotels Adriatic, "Valamar Poslovni Razvoj", "Titan Nekretnine", "Rixos Grupa" and the Mlini-based cooperative of war veterans "Mir".

Croatian Tourism Minister Darko Lorencin said on the fringes of an international health tourism conference in Zagreb today that a total of six offers were being considered for Kupari, adding that all interest letters were serious and satisfactory.

He said that the procedure to invite binding offers for Kupari was now under way and that even those who did not sent interest letter would be able to apply. The minister said the public tender would be open most probably 60 days, so that all interested parties would have enough time to prepare their offers, adding that the tender could end before the summer.

The deadline for non-binding offers was March 10. The above-mentioned potential investors were not obligated to submit binding offers.

The concessionaire is expected to invest several hundred million euros in this project and create 300 jobs.

The plan is to rebuild the existing complex of five hotels devastated during the 1991-1995 war and build new ones with a concession to be granted for 99 years. The hotels would have a total accommodation capacity of up to 1,500 beds.