Villa Dubrovnik and Euoprojekt settled

The company Villa Dubrovnik, which also owns the luxury hotel of the same name in the immediate vicinity of Dubrovnik’s historic core, entered into a settlement with the Zagreb company Europrojekt, whereby the Commercial Court in Dubrovnik terminated the court proceedings by rejecting the lawsuit against Villa Dubrovnik.

The Zagreb company demanded around two million euros, after paying a million euro down payment for the land on Sveti Jakov (return of the double down payment), which is why the Commercial Court issued a decision on February 14 to secure a temporary measure prohibiting the alienation and encumbrance of the real estate of the company Villa Dubrovnik. As a result of the settlement reached, the Commercial Court issued a decision on the deletion of records on the real estate of Villa Dubrovnik.

As announced on the Zagreb Stock Exchange, Villa Dubrovnik points out that the successful conclusion of the dispute is part of a comprehensive settlement related to the non-operational land on Sveti Jakov with a total area of ​​6,675 square meters, the owner of which was confirmed to be a Dubrovnik tourist company, while Europrojekt was refunded the deposit in the amount of one million euros. parts of real estate with the owners of neighboring real estate (who are in partnership with Europroject and therefore part of a wider settlement), achieved the required minimum area necessary for the development of the planned project of smaller individual luxury accommodation units on all plots owned by the Company, which was not the case before. Contracts for the sale and exchange of real estate are concluded on the condition that the holders of the right of first refusal (graduates or municipalities in relation to the county and the City of Zagreb, so the Republic of Croatia) will not use the rights from Article 37 of the Act on the Protection and Preservation of Cultural Property, which is a termination condition in contracts on the exchange and sale of real estate, but not in the settlement itself, which is legally binding. legal relations, and achieved the required structuring of the land parcels required for the planned development of their own project on the same land.

By the way, until two years ago, the luxury hotel Villa Dubrovnik was owned by the Dogus Group of the Turkish billionaire Ferit Sahenko as part of luxury hotel brand Mytha Anthology. The Dogus Group completely reconstructed it, after which the hotel was opened in 2011 as a 5-star store hotel with 56 luxurious rooms.

In the same year, eight pension funds (ERSTE Blue mandatory pension fund category A, ERSTE Blue category B pension fund, Expert voluntary pension fund, Closed voluntary road pension fund, Erste closed voluntary pension fund, Nestle closed voluntary pension fund, Police closed voluntary pension fund and Posta closed voluntary pension fund) acquired a majority share of 89.6 percent in to the Villa Dubrovnik company by concluding a purchase agreement with the former majority owner Dogus Group.

thousands of euros. source

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