(MENAFN- The Peninsula) Croatia on Saturday launched an international tender to develop a major tourist resort on former military-owned property near the chic vacation spot of Dubrovnik along the southern Adriatic coast.
The overall investment into the Kupari complex, several kilometres south of Dubrovnik, has been estimated at around 100 million euros ($110 million).
"Kupari (resort) is a good example how we will put former military property at attractive locations into a tourism function," Tourism Minister Darko Lorencin said in a statement.
The binding offers were to be submitted by August 25, said the tender published by the state property management administration (DUUDI).
The Kupari resort was once owned by the former Yugoslav People's Army and had some 1,600 beds, but was devastated at the start of the 1990s war.
The area involved in the tender covers some 13 hectares (32 acres), with several destroyed hotels. The plan is to renovate one and build new four and five-star facilities which could have up to 1,500 beds.
So far six investors have voiced informal interest for Kupari including Turkish Group Rixos, Russia's Avenue Group and a consortium including tourism giant TUI, Lorencin said earlier.
Tourism is a key segment of the former Yugoslav republic's economy and accounts for some 20 percent of its gross domestic product.
Last year Croatia welcomed more than 12 million visitors, nearly triple the number of its 4.2 million inhabitants, heading mostly to its pristine Adriatic coast.
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