Monday, 25 October 2021
Investors and municipality tour Kupari yesterday Investors and municipality tour Kupari yesterday Mark Thomas

Four Seasons hotel project in Kupari moves a step forward as Singapore investors join project

Written by  The Dubrovnik Times Sep 08, 2021

Thirty years after liberation, twenty years after thorough looting and complete devastation, and ten years after the first serious initiatives to rebuild the huge hotel complex in Kupari near Dubrovnik is somewhat closer to revitalization, at least in theory. Russian investors from Avenue Investments have announced a strategic alliance with Singapore-based Hotel Properties (HPL), which owns 50 percent of the entire project, now called Kupari Luxury Hotels.

The leaders of the Municipality of Župa dubrovačka yesterday held a meeting with representatives of Hotel Properties Limited (HPL) from Singapore, a company that has entered the ownership structure of Avenue Investments.

“The company Avenue Investments has signed a contract with the Republic of Croatia for the right to build and a concession on maritime property on state land in the tourist zone in Kupari in the Municipality of Župa dubrovačka,” stated the head of the Administrative Department of the municipality, Jure Marić.

6uz67676576zhtdth6tu67

Just one of the devasted hotels in Kupari - Photo Mark Thomas 

And he added that “Optimism is instilled by the fact that HPL, a partner that has entered the ownership structure of Avenue Investments, is a world-renowned company that owns 18 hotels under the Four Seasons brand and another 6 under construction, making it the largest single partner of Four Seasons in the world. We hope with the plans and approach of the new participants in the project that the implementation of the Kupari project should be significantly accelerated and come to life in full glory, which would give the Municipality of Župa Dubrovnik and the Republic of Croatia an exclusive hotel brand that has not yet been present in this area.”

Alina Yuvakaeva, a member of the board of Kupari Luxury Hotels, said that at the moment intensive work is being done on the preparation of project documentation and completion of the conceptual design, which was assigned to the Croatian architectural studio 3LHD.

The Voice of Dubrovnik

THE VOICE OF DUBROVNIK


Find us on Facebook