Pasman Resort is located at the island of Pasman, Croatia, EU on area of 260 ha. The aim of project is development of top-quality sustainable tourist destination. Pasman Resort will be renowned for its community spirit. The project strongly encourages integration, social interaction and the formation of close ties among community members. The project consists of 2 zones per 50 ha with landscaping area, logistic zone and recreational & agriculture area: 160 ha with landscaping about 100 ha.
Form of project announcement
Project concept is based on long term contract (99+ years) between municipality and investor/operator. Contract model determines that project owner gives right to build and land lease to investor during long contract period, while investor has to design, build, finance, operate and maintain whole resort and have the right to commercialize the project in whole. Financial and economic indicators are calculated based on 25 years projections, with inflation rate of 2,00% and discount rate of 3.49%. IRR is calculated in interval from 14.10% to 19.98 %, NPV is positive around EUR 700 million and payback period is in interval from 8 to 13 years. Project enables wide range of benefits: environmental benefits - sustainable use of energy, resources and agriculture development; social benefits - encouraging positive demography on the island, generation of jobs, involvement of local crafts and use of local products; financial benefits - increasing income (fees and taxes) of local community that can be used for further development; other benefits - increasing image and brand of the local area, sustainable economic and tourism development and incentive for realization of other projects in the area.
Indicative timetable of project development
Expected start of the Project: 01.01.2018
There are no Project documents available at this time
Project looking for additional PPF assistance
Project looking for additional MDB assistance
Is project multi jurisdictional?
Stage 2: Project Investigation
487.6 M USD 430 M EUR
Indicative Funding Source
Have any external advisors been appointed yet
Details of Advisors appointed
Is the project contained in national/sub national infrastructure plan or strategy
Please outline any studies (for example environmental, engineering etc.) that will be completed prior to a full business case development
Opportunity for Private Sector Involvement
Operations, Debt - Concession
Stage 3: Start of Project Feasibility / Business Case
Legal Advisors Appointed
Financial Advisors Appointed
Technical and Other Advisors (inc Project Preparation Facility) Appointed
Is a Business Case Being Prepared?
Business Case Prepared By
Not Yet Known
Preparer company/department name
Estimated Business Case Completion Date
Unable to be estimated at this time
Estimated Time To Start Of Procurement
Unable to be estimated at this time
Any other relevant information relating to the project process
Project is looking for investor (probably consortium) to design, build, finance, operate and maintain the project over long term contract (99+ years) period. Securing financing for project realization is responsibility of potential investor.
Stage 4: Project Feasibility / Business Case Complete
Is the Business Case Complete?
Business case no longer being completed
Details For Next Step Of Project
Project is looking for an investor which will assume full ownership of SPV that has signed long term "right to build and land lease" contract with Municipality of Pašman.
Investor will be selected by public tender organized in two steps: qualification and offer submission.
Only qualified investors will be invited to participate in 2nd stage of tender and submit offers.
Public call for qualification will be announced in November 2017.