Orascom
03/10/2008 13:35
A large and well-respected Egyptian development company Orascom Development Holdings (ODM), has recently acquired a 90% stake in Luštica Development, a company originally established by the Montenegrin government to develop a specific area of Luštica known as Trašte Bay.
Orascom plans to build an eco-friendly, high-end resort that will include a golf course, three marinas, hospitals, schools, numerous shops, and restaurants. While the project is expected to create significant employment opportunities for the local community, I sincerely hope it won't come at the cost of disrupting or damaging that very community, hence my current hesitation to begin work myself.
With 15 years of experience in building resort towns and creating self-sustaining communities, Orascom certainly has the expertise. Now the challenge is whether they can balance development with genuine environmental and cultural sensitivity.
Orascom plans to build an eco-friendly, high-end resort that will include a golf course, three marinas, hospitals, schools, numerous shops, and restaurants. While the project is expected to create significant employment opportunities for the local community, I sincerely hope it won't come at the cost of disrupting or damaging that very community, hence my current hesitation to begin work myself.
With 15 years of experience in building resort towns and creating self-sustaining communities, Orascom certainly has the expertise. Now the challenge is whether they can balance development with genuine environmental and cultural sensitivity.
