Boutique resort LIOQA offers a hassle-free solution, a new standard in which residents do not have to worry about anything
SITNO HOLDING Real Estate (SHRE) is a European developer with offices in Luxembourg, Prague, Bratislava, and Zadar. The company has almost 20 years of experience in the CEE region, and since 2015 it has been present in Croatia, where it is currently developing projects in the Zadar region. We talked to Ludovit Cernak, a partner at SHRE, who explained why Croatia is booming in the real estate and tourism sector and why to invest in this market.
Ludo, you’ve been on the market for almost 20 years, developing projects in the CEE region. Why Croatia?
Croatia has the potential to become the European Caribbean: a great location and infrastructure, including international airports scattered all over the country. On the other hand, the motorway network allows easy access in just a few hours, which proved extremely important during the Covid-19 pandemic. The economy of Croatia is growing steadily, and the legal system is comparable to that of EU countries. Being a member of the EU and joining the Eurozone also speaks in its favor.
How can Croatia be more attractive than other southwestern European countries?
Croatia has a great climate, rich history, and beautiful architecture. It is also a yachting paradise. This makes the country an ideal place to invest in real estate due to the dynamically developing recreation and tourism sector. Most investors are foreign developers, and this only shows that Croatia is an international market with opportunities for everyone. Interestingly, there is a shift in demand from low-cost alternatives toward more premium segments and locations.
‘Croatia is an ideal place to invest in real estate due to the dynamically developing recreation and tourism sector’
What exactly are customers from the premium segment looking for?
The key is a beachfront location with sea views, easy access, total privacy, safety, sports, and relaxation facilities. From an investment point of view, it is a hassle-free solution with high returns. People want to allocate their time efficiently and not think about the operational side of real estate. These are the essential aspects of our projects. We want to provide a managed, safe and innovative home solution with the ability to control everything remotely.
What investments are you making in Croatia?
In January, we started the construction of LIOQA Resort. It is a boutique 5* private resort located on the south coast of Ugljan island. The resort comprises 21 ultra-luxury villas with a beachfront location and a private marina. The marina is dedicated to the villa owners, and the resort’s management company will make sure the boats are always ready for you. The beach club located within the resort includes a restaurant, bar, lounge, and two community pools also exclusively for the residents. LIOQA will be finished by the end of 2023.
What distinguishes the LIOQA investment from others in the Croatian market?
LIOQA offers a hassle-free solution, a new standard in which residents do not have to worry about anything. You purchase – come & enjoy. The resort offers complete privacy within this gated community, 24/7 security and professional staff is at your disposal. The villas are equipped with smart home solutions that make life easier and give you full control over the villa even when you’re not there. The owners also can join our rental pool, which will provide them with additional income when they are not using the villa.
What is your overall experience and impression of the business environment in Croatia?
We are pleased about the support and professionalism we get from local institutions and Colliers – our exclusive sales partner provides us with lots of market knowledge and experience within the premium real estate industry. That is why we soon plan to expand our investment portfolio for other projects.