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.

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August 29, 2019 - The Croatian boutique hotel Villa Dubrovnik, which is owned by the Doğuş Group, has been awarded the Green Globe environmental certificate for the promotion of ecological practices.

HRTurizam reports that it is an internationally recognized certification that today has over 500 members in more than 100 countries around the world. It is awarded to companies that use technological innovations to manage all consumption and minimize environmental impact effectively.

Guided by internal environmental policies, Villa Dubrovnik has implemented a number of practices to conserve energy and reduce its negative impact on the environment, such as continuous evaluation and reduced use of water, electricity, paper and other resources, as well as encouraging the use of recycled materials and the primary use of environmentally friendly chemical products. In addition, Villa Dubrovnik is focused on promoting and developing a culture of environmental awareness of its guests, as well as the local community in which it operates, both through guidelines for desirable ecological behavior and by holding workshops and training for guests and the local community.

“Efficient energy management is in line with the vision of Villa Dubrovnik, and we are constantly focused on applying the best practices and respecting the principles of energy efficiency. The Green Globe certification is another confirmation that we operate on environmentally sustainable principles and will continue to do so in the future. We are truly proud because it is also a motive to continue providing our guests the highest level of quality accommodation and services,” said Mirna Stražičić Lončar, director of Villa Dubrovnik.

The Green Globe includes a structured assessment of business sustainability performance, which includes 44 major criteria supported by more than 380 compliance indicators, and the overall standard is reviewed and updated twice in a calendar year.

The Green Globe certification system today includes hoteliers, airlines, car rental companies, tour operators, travel agencies and offices. The Green Globe logo is recognized throughout the world as an international symbol for the protection and promotion of the environment.

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