Dubrovnik Makes Way for More Mooring

Earlier this month a 26.5-million-euro loan was granted by the European Bank for Reconstruction and Development (EBRD) to help modernize Gruz Harbor, Croatia to meet the demand of increasing numbers of cruise passengers stopping in Dubrovnik. More cruise passengers mean more business-and this looks like the right time for forward-looking investors.

Currently the port of Dubrovnik can only handle one of the 300-meter ships that commonly carry 3,600 passengers-if other ships arrive, they are forced to anchor beyond the old city, creating pollution in the Adriatic. Once the infrastructure has been modernized, the port will be able to accommodate three of these immense ships simultaneously. A second phase of the development includes the construction of a passenger terminal, parking spaces, entertainment facilities, and a shopping mall.

Dubrovnik's old town is a UNESCO-listed World Heritage site and offers history, culture, a clement climate, and convenient location between Greece and Italy. The local authorities hope to turn Dubrovnik into an essential stopover for visitors in the Mediterranean, and have welcomed plans for the port's modernization as crucial in improving the country's tourism profile.

International Living's resident real estate investing guru, Lief Simon, reminds his readers always that one of the surest ways to position yourself for profits is to front-run the infrastructure. Identify a place that's building an airport, adding new air routes, opening new train lines, paving new roads, or (as here), bringing in additional cruise traffic. Buy before the infrastructure improvements and expansions are in place…and watch your investment appreciate as the tourist volumes increase.

We'll keep you informed, ahead of the crowds, of other developments in Croatia-and elsewhere in Europe-to make sure you don't miss out on any investment opportunities.

Best regards,

Maria Savage
International Living's European Consultant

P.S. Lief Simon will be speaking about Croatia as well as many other emerging European markets at our Live and Prosper in Europe Seminar this September 2-4 in Barcelona. Click here for full details.