Thursday, 23 February 2023

Villa Dubrovnik Settles Land Dispute, Luxury Villas to go Ahead

February the 23rd, 2023 - Villa Dubrovnik has finally settled its land dispute and will go ahead with the creation of new luxury accommodation units in a very desirable part of the city.

As Marija Crnjak/Poslovni Dnevnik writes, Hotel Villa Dubrovnik is embarking on a project to build luxury tourist villas in the Sveti Jakov area of Dubrovnik, on its own land that is free of encumbrances, after the legal entanglements with the Europrojekt company were finally resolved on Monday. So far, there have been no details about the project published, and Villa Dubrovnik promises to present their ideas to the local community in due course.

As stated in the recent announcement on the Zagreb Stock Exchange, based on the settlement between Villa Dubrovnik and Europrojekt, the Commercial Court in Dubrovnik issued a verdict on Monday rejecting the plaintiff Europrojekt's claim and cancelling all encumbrances on the aforementioned land.

Legal entanglements

This is the epilogue of the story about the attempt to sell the aforementioned land to the company Europrojekt, which has allegedly never paid the required amount since signing the purchase agreement with the hotel way back at the beginning of 2021, and just a week ago, it has been said that it sued Villa Dubrovnik because they ''didn't want to return the deposit of one million euros''. With that settlement, Europrojekt gave up its claim for double the amount of the advance, and Villa Dubrovnik agreed to return the down payment, although until a few days ago they had claimed that there was no basis for the return.

It is currently non-operational land in the Sveti Jakov part of the city, spanning a total area of 6,675 square metres. The attempt to sell the land off, all with the aim of preserving the financial stability of the company, was launched in the midst of the coronavirus pandemic, and the sales contract with Europrojekt stipulated that the land be sold for 4.2 million euros plus VAT.

At that time, Villa Dubrovnik was still owned by the large Turkish Dogus Group, and in the summer of 2021, pressured by the consequences of the global public health crisis, it was sold off to a group of eight Croatian pension funds. With the aim of paying the full purchase price, on October the 6th, 2021, Villa Dubrovnik signed a long-term loan agreement and an agreement to secure a monetary claim (mortgage) on the property as a pledge debtor, and with this agreement, the hotel was to be paid the purchase price no later than the 15th of October 2021, and following the payment, the mortgage should have been established.

However, the payment never arrived. According to Villa Dubrovnik's report on its business operations for the year 2021, it is stated that during that year, the Company and the Group recognised income in the amount of 7.4 million kuna based on the down payment for the sale of the land in the past.

It is un that report that they noted that, based on the contract, the buyer had the obligation to pay the difference in the purchase price by a certain deadline, and otherwise, they'd lose the down payment. However, since the customer breached the contract and failed to fulfill their obligation, the Group recognised revenue from the collection of damages in accordance with contractual law.

However, they relented. As Villa Dubrovnik pointed out in its recent press release, the court decision confirmed Villa Dubrovnik's ownership of the aforementioned real estate, the previously paid down payment in the amount of one million euros was returned, and Villa Dubrovnik also achieved the desired structuring of the land parcels.

To speak more specifically, by exchanging and selling smaller parts of real estate with the owners of neighbouring properties, who are in partnership with the company Europrojekt, the required minimum area was reached, which will allow Villa Dubrovnik to develop its already planned project of the construction of luxury villas on all parcels under its ownership, which wasn't the case before.

"The planned development of the project of luxury villas in Sveti Jakov is currently still in the initial phase, and we're convinced that, with its synergistic potential, it could provide additional value to the overall tourist offer of the city. Of course, as a socially responsible company which akes into account the interest and opinion of the public, we'll publicly present our ideas beforehand to all involved and interested stakeholders, and in cooperation with the city authorities responsible for spatial planning, we'll ensure compliance with all of the relevant regulations that define construction in the area of Sveti Jakov,'' said Mirna Loncar Strazicic, president of Villa Dubrovnik's management.

For more, check out our news section.

Monday, 14 September 2020

PHOTOS: Luxury Villas Croatia - Breathtaking Views in Makarska's Foothills

September 14, 2020 – 10 minutes from the centre of bustling Makarska, blending traditional Dalmatia with incredible 5-star facilities, My Home Adriona is a blissfully secluded paradise and one of the most singular luxury villas Croatia has

_DSC0210.jpegMy Home Adriona sits in the foothills of Biokovo mountain, just 10 minutes drive from the centre of bustling Makarska

Not everyone knows exactly what kind of holiday they want. Taking to the crystal clear waters on a pristine beach and soaking up the atmosphere of winding old town streets and their taverns are essentials of every holiday in Dalmatia. But, sometimes you need to break off from the crowds. They are not who you chose to spend your precious holiday time with. Neither are the all-too-near neighbours in the crowded apartment complexes or the town's full capacity hotels.

20200809_155449.jpegViews from the first-floor bedrooms show the wild nature which surrounds the custom-designed pool, the Adriatic close by and Brač island is the distance

IMG_5694.jpegA handful of houses are the villa's only neighbours, the only sound you hear all day is the crickets in the trees and the splashes you make in the pool

Luxury villas Croatia are the best way to make sure you and your fellow travellers get the most out of your vacation, and each other. Located in Kotišina, a small village in a Makarska neighbourhood, My Home Adriona is one of the most singular luxury villas Croatia has. Balancing traditional Dalmatian architecture with 5-star luxury, the villa is surrounded by the indigenous flora of the region and breathtaking views of the Adriatic and Brač island. Out of sight, but less than 10 minutes drive by car, the beautiful beaches and vibrant tavern and town life of Makarska await. Like the salty waves, they are on your doorstep any time you feel like dipping in.

myhomeadriona-7_R.jpegOlive, citrus, fig and pine trees surround the villa.

The scent of wild rosemary, lavender, citrus and other Mediterranean plants and herbs fill the air on the ample terrace of My Home Adriona. Gazing across the custom-designed pool and down into the tree-filled valley below, only the sounds of crickets fills the air. The village is quiet. Many of its quaint, traditional houses lie empty, used for a week or two as holiday homes. A car or moped might travel through the single road in the village once every hour. Or maybe none will pass through all day.

20200709_195651.jpegThe 17th-century Kotišina castle is carved into the mountainside, just 10 minutes walk from the villa, before it, the Botanical Gardens, dedicated to local plants and herbs

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IMG_5713.jpegShade from the sun by the side of the pool or soak up the rays in the morning or late afternoon

Sitting elevated from the shoreline, in the foothills of the mighty Biokovo mountain, it's all too easy to become captivated by the seascape from Adriona. But, of all the coastal luxury villas Croatia boasts, this is one where the breathtaking view surrounds completely. Olive and fig trees line the property boundary. Beyond them, the handful of traditional dwellings sit on gentle slopes before, suddenly, the karst rock shoots up towards the sky. At dusk, you can watch the colour shadings on the mountain change spectacularly every minute in response to the waning sun. Carved into the mountain, 10 minutes walk from Adriona, a 17th-century castle dominates the view behind. Below it, 300 wild plants grow in the Kotišina Botanical Gardens, each of them indigenous to this specific area, just like those surrounding Adriona.

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_DSC1295.jpegThe spacious open-plan living room and dining area sit next to a monster-sized, modern and fully-equipped kitchen. There's an additional eating area on the terrace, perfect for dining in the evening

IMG_5792.jpegBedrooms come with king-size beds and ensuite bathrooms. Each double bedroom is individually named after locally growing fruits and herbs - the natural bathroom products of each room hold a corresponding scent

crop_9999_666_My-Home-Adriona-Dalmatia-Olivers-Travels24.jpgThe games room and its bar are a proper man cave, with snooker table and poker table. Like the rest of the villa, it is furnished with fully restored antique furniture

The traditional white stone of Dalmatian houses forms the exterior to Adriona. Inside, restored antique furniture maintains the authentic feel, but it's combined with jaw-dropping luxury features that are wholly contemporary. On the ground floor, a spacious living room and dining area sit next to a fully equipped kitchen. A games room comes complete with snooker table, poker table and a fully stocked bar (although it's not as well-stocked as the wine cellar which, like the rest of Adriona, displays exquisite taste). In the basement, a spa and wellness area boasts a gym, sauna and a jacuzzi. Each of the four double bedrooms is huge, with kingsize beds, ensuite bathrooms and incredible views which perfectly welcome each day. All floors are accessible by lift and one bedroom is designed to accommodate those with disabilities or mobility issues.

20190927_162108.jpegThe wine cellar is stocked with exemplary Croatian wines. Some of the best red wine from the country comes from this region and all feature within this connoisseurs collection

IMG_5719.jpegWhat a view to wake up to in the morning!

When it comes to luxury villas Croatia has more than a small share. But, among them, Adriona is quite unique. Neighbourless and remote, yet just 10 minutes from the centre of a town brimming with people, beaches and nightlife, it's a luxurious base perfect for exploring the Makarska riviera and wider Dalmatia. Beautiful beaches, the Biokovo nature park, islands Hvar and Brač, adventure sports on the Cetina river, traditional taverns and Michelin-starred restaurants are all within very easy reach. This is a luxury villa at which every day can be different, and at which you can take your holiday at your own pace.

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IMG_5739.jpegThe view of Biokovo mountain and the castle from the upstairs terrace of My Home Adriona. The colours of the rock face seem to change every minute at sunset

All photos © Marc Rowlands / My Home Adriona

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Friday, 31 July 2020

PICTURES: Converted Island Monastery LOPUD-1483 Near Dubrovnik Offers Stunning Luxury

July 31, 2020 - PICTURES: Converted island monastery LOPUD-1483 near Dubrovnik offers incredible luxury

Set inside a former 15th-century monastery, LOPUD-1483 is one of the newest luxury dwellings south Dalmatia has to offer. Located on a car-free island, just seven miles off the coast of Dubrovnik, the stunning property has already caught the eye of the international press.

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© LOPUD-1483 lies inside a former island monastery and walled fortress

sunset-1618x1080.jpgSunset from the terrace

Available as an exclusive buy-out for groups during peak season (its five suites are available individually later in the year), LOPUD-1483 also features a slightly younger walled fortress which lies adjacent, surrounding manicured gardens and an unobstructed view of the sea, lying just a few metres away.

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Head to the rooftop for relaxation or yoga sessions 

It is aimed towards family or other groups who can rent together, such as those organising yoga retreats, small business conferences, weddings and birthday parties The property balances its historic architecture with contemporary interior design and all the fixtures and fittings you'd expect fro a luxury resort.

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The property balances its historic architecture with contemporary interior design and all the fixtures and fittings you'd expect 

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The courtyard dining area is perfect for weddings or functions 

LOPUD-1483 also holds ample space to display art and this year has a season-long exhibition from a private collection belonging to the Thyssen-Bornemsza family. The resort has the option of private chefs and a complimentary boat service between the island and Dubrovnik for longer-staying guests.

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Walls of the historic property are just yards fro the sea 

Rates start at €1,400 per night, including breakfast, with a minimum three-night stay. Buy-outs start at €10,000 per night.

All photos © LOPUD-1483

Tuesday, 8 August 2017

Two New Luxurious Hotels Open in Croatia

We have witnessed more and more new hotels popping up in Croatia, especially in the Adriatic.

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