According to Zadarski list, American investor Jeff Blackard has decided to invest in a 500 milllion euro project called Pasman Riviera.
The project will spred over 260 hectares of land on the south side of Pasman island, Croatia. Althought 11th largest Croatian island and only 2 km away from the coast, Pasman remained sparsely populated for decades, making the island a perfect retreat to a small number of holidaymakers.
This could all change soon, as the Blackard Global Inc was the only company to respond to the public tender, even though the project was widely marketed by Croatian Chamber of Commerce, including Expo Milan. Municipality of Pasman, as the official carrier of the urban planning, is said to prepare the documentation at earliest convenience, as the construction works may take as much as 5 years.
The project will stretch along the 8 km of the coastline. The land will not be sold, but leased to 99 years for the price of 0,40 EUR per sq.m within the building zone and 0,10 EUR per sq.m out of the building zone. Tourist accomodation facilities will be built on 100 hectares and will contain up to 4.000 beds, rating 4-stars at least.
In addition, Pasman Municipality, along with the town of Biograd, has been recently granted EU funds to improve the infrastructure, which could indicate that this decade-old vision may finally be coming to reality.