Neretva Elite Residence - spiljak.baspiljak.ba/real_estate/documents/Konjic_elit_residence... · Neretva Elite Residence Konjic, Bosnia and Herzegovina By Integral Elektro doo

Neretva Elite Residence Konjic, Bosnia and Herzegovina

By Integral Elektro doo

Sarajevo, Mart 2014

Konjic Elite Residence Integral Elektro doo Sarajevo

Page 2

Table of Contents

EXECUTIVE SUMMARY 3

HIGHEST AND BEST USE 4

PROJECT DESCRIPTION AND SITE LOCATION 5

SWOT ANALYSIS 10

PROJECT EXTERIOR RENDERING 11

PROJECT ZONING 15

BOSNIA AND HERZEGOVINA 16


Page 3

Executive Summary There is a strong demand in Bosnia and Herzegovina for well-built and serviced accommodation that meets clients standards. There is a lack of supply of quality and good

located residences providing relaxing atmosphere. Recently with an increase of a demand for an elite and client oriented residences a new developments have began in the close range of Sarajevo area. Sarajevo as a capital of Bosnia and Herzegovina is responding to the emerging demand in certain and limited extends due to space limitation. Therefore, Sarajevo and other Bosnian cities are responding to emerging demand with new hotel capacities for shorter stay, but for the long-stay, capital city and other cities of B&H lack of such accommodation. Integral-Elektro, the company with a long experiance in construction recognized the potential of Bosnian beauty in the emerging market. The selected location for Elite Residence has been carefully selected to emphasize Bosnian natural beauty potential and to offer top-notch location and residential development. The undisturbed nature of river Neretva provides unique experience. The project is located along the river shore, next to the city of Konjic and it is well connected to road infrastructure. The location is easy accessed from the capital city and the airport; it is just 45 minutes drive from the Sarajevo city center. The Residence is well connected to the Mostar, Sarajevo, Croatia and many other attractive locations. The project is developed as a fully operated closed elite residence with a accommodation capacity of 70 villas, hotel with a capacity of 22 rooms, recreation area, car parings and rent-a-car facility, retail area. Community center is intentionally located in the center of The Elite Residence community as a representative of community strength, surrounded with water as a symbol of tranquility. The whole community developments are design to serve a client in the achieving relax and unique experience.

City of Konjic Bridge and tower


Page 4

Highest and best use Area along the Neretva river from Konjic to Glavaticevo for many years now is used mainly as a recreation area. As mentioned in Site description kayaking and rafting are two of most popular sports in this region and they are attracting many visitors from Bosnia and Herzegovina and visitor from other countries. According to the some finding, little bit further from the site toward Glavaticevo, group of enthusiastic young people are developing center for extreme sports. The natural resources are in focus when it comes to this region. City of Konjic (municipality of Konjic) invested a lot of resources in improving the overall appearance of the city. The old bridge in Konjic has been reconstructed recently, and adjacent properties were refurbished. New pedestrian zone along the river from the old bridge had been developed, new city light are at place and currently the municipality authorities are planning to install surveillance cameras at public areas to reduce risk of criminal, and to make a city safer for there citizens and tourists. Municipality of Konjic is supporting and developing tourism as main focus of the city surrounding and city itself. In the recent years the hotel Garden City opened and they are

successfully filling their capacities with tourist. Since the plot is not in the city zone the residential- apartments development of several stories for local population is not feasible, since the city center is have sufficient capacity of dwellings, and several new developments are in plan, additional majority of the local population in the city and its surrounding prefer individual housing. The area is nor suitable for a retail development due to the fact that the city entrance, on the road from Sarajevo to Konjic is zoned as commercial area. Taking into a consideration all, location and of the plot and allowed sort of developments we can conclude that the type of the residential touristic oriented development is the best use. Since the project is not developed to its final (approved concept and design development) the highest utilization of the plot and the project cannot be examined and analyzed at this stage. What is known currently at the stage of design in place is that the project is fulfilling elements from which the positive conclusions can be driven. The room rates at the Garden City hotel for month of June is 75 Euros per a night; it is four-star hotel as per hotel categorization of hotels in Bosnia and Herzegovina. There are few more accommodation capacities in Konjic.


Page 5

Project Description and Site Location Site Location The site is located in the Glavaticevo place, 10 minutes away from the city of Konjic and 45 minutes from The Capital of Bosnia and Herzegovina and in the same distance to the city of Mostar. In the near area of the location the Boracko lake, Jablanicko lake and Blatacko lake are located. The site is located along the Neretva river shore, surrounded by the river from three sides, from one side the site is connected to the local road. The local road leads to the city of

Konjic from one end and the Glavaticevo place from the other end. The same road is a connection to The Bjelasnica mountain (ski resort). Along the road to Bjelasnica a lot of heritage sites took place. The area of Konjic is covered with up to 80% of forest. The city of Konjic has a population of 26 000 people, with a majority of Muslim population. It is one of the oldest settlements dating from approximately 4000 years ago. It lies on both side of Neretva River, the city sides are connected with several bridges out of which the most beautiful is the old pedestrian bridge dates from ottoman period. Most of the Konjics architecture dates from the ottoman period and in the sole center of the city several buildings from Austro-Hungarian period emerge in the town view. The site is in a curved shape what allows larger number of residences to be oriented toward river, the plot is covering area of 59883 m2.

SARAJEVO

KONJIC

Adriatic coast

MOSTAR


Page 6

The plots are arranged to follow the curve of the site along the River, sellable houses are designed to accommodate location. Main community zone is design around the lake at the center of plot with natural redirected river water. At this part the river water is clean and drinkable, since there is no contamination of the river of any kind. The Neretva river is the most beautiful river of Bosnia and Herzegovina, with a length of 230 km. Many recreational activities take place along the river, such as rafting, kayaking, hiking, fishing. There are several River beaches along the river and one of the local beaches is next to the site. The site is design with a pedestrian zone around the site along the river.

The Site


Page 7

Boracko Lake

The City of Konjic

Raketnica River


Page 8

Project Description The whole resort is design as top-notch community where serenity and nature are united in offering unique experience. The accent is given to natural resources and beauty of what B&H can offer. Regardless to season, the resort design accommodates communitys needs, whether to escape from summer heat, or to enjoy in white Bosnian winter. The land is categorized as a construction land (bonitet 5), in the preliminary communication

with a municipality there are no legal obstacles for obtaining construction permits. The community Resort is design as separate entity independent from the surrounding with the green fence; the community access is possible only via the control gate, what allows privacy to the community residents. The site is divided into 70 parcels allocated for individual villas, the community center with kindergarten and the mosque is located in the center of the community next to the small lake surrounded with a greenery. The recreation area, tennis court, football court, Volleyball court, Basketball court, Indoor and Outdoor pool, are located at the west site of the site next to the Resort entrance. The parking and rent-a-care (travel agent) and retail area are at the entrance of the resort from the left side while hotel with a restaurant is on the right side of the entrance. The recreation area covers more then 3000 sqm of total site. Pedestrian track and cycling track is designed along the river shore. There are 70 villas, and each vila is designed with a garage and 2 outdoor parking plots and with a front yard and backyard. Sizes of the villa plots vary from the 450 to 750 sqm. Additional garden improvements are available upon the request. The idea of the developer is to offer the future owner of the villa possibility to furbish villa as per the owners tastes and

needs. The resort can offer three types of villas to be fully owned. Type of the construction is solid reinforced concrete construction.

Rafting on Neretva


Page 9

Villas Breakdown structure Table 1 Villas Plot area Net Area sqm Total number of villas

Type 1 450-750 120 24

Type 2 450-750 160 28

Type 3 450-750 200 25

11,880.00

Breakdown facilities structure Table 1

Villas Plot area Net Area sqm Total number of units

The Neretva Hotel 1,010 22

Restaurant 165 1

Retail area 300 5

Mosque 162 1

Kindergarten 80 1

Service building 135 1

Indoor pool 1,200 1

Entrance gate with

rent-a-car service

177 1

Football 924 1

3.750,00

Expected duration of the project is 3 years from the day of construction starts. The construction start is expected in 2013. The project is scheduled as self-investment project with an initial capital for the phase 1.


Page 10

SWOT Analysis

Strength Opportunities Proximity Konjic / Old Town Tourism Attractions Natural resources Good position There is no land issues regarding ownership or possibility of a construction Construction knowledge of Integral-Elektro

Amazing location and easy travel to Bosnian touristic attractions The resort operation is a main generator of business developments Increasing number of GCC guests Employments of local population


Page 11

Project Exterior Rendering

Note: Design of individual building is not finalized till date, therefore, there are subject of change. The concept design is in the development stage at the time of writing of feasibility study.

Mosque at Community Center


Page 12

Villa Type 1

Villa Type 1


Page 13

Villa Type 2


Page 14

Villa Type 3


Page 15

Project Zoning The site is divided in several zones:

1. Community center is located in the middle of the plot and it is surrounded with a villas

2. Recreational area Is aligned with a main access road 3. I residential zone closer to the river 4. II residential zone close to community center 5. Entrance zone 6. Pedestrian zone next to the river shore

Each villa plot is accessible by the internal two-way road of 6 m, and walkway from both sides of the road. Residential area is divided into two zone due to the position at the plot, since the plot receiving on its value due to closeness to the river. Therefore, the first residential zone is closer to the river and plots are bordering with two neighboring plots while in the II residential zone plots are bordering with max five neighboring plots.

Master Plan


Page 16

Bosnia and Herzegovina

The capital city of Bosnia and Herzegovina is Sarajevo, which is becoming a new business tourism destination. The Country is in the process of entering European Union. The Capital City of B&H with over 700,00 inhabitants, is a city with a strong heritage legacy and impressive history. Sarajevo airport features daily flights to various EU capital cities and hosts world famous Sarajevo Film Festival, International Jazz Festival, Mess Theatre Festival, as well as Bascarsijske Summer Nights Festival. Cities such as Mostar and Konjic have their own festivals during a summer period such as traditional music festival, Theatre festival or food festival. Konjic is well known by handcrafting, especially emphasized wood crafting. This area due to its climate and natural resources is developing in the strong touristic center of Bosnia and Herzegovina. Real Estate Market

There is a lack of the high-end developments such as the Resort. In last few years potential buyers are looking into investing in a similar projects. Most of the developments are taking place in Sarajevo while not many or not even one is undergoing in natural surrounding. Sarajevo is emerging market mostly for hotels and administrative building while Konjic is unexplored city for high investments. As a reference, number of touristic is increasing each year, especially during a summer period. Out of overall visitors to Bosnia and Herzegovina there is an increasing interest of visitors from GCC countries.

Documents

Neretva Elite Residence - spiljak.baspiljak.ba/real_estate/documents/Konjic_elit_residence... · Neretva Elite Residence Konjic, Bosnia and Herzegovina By Integral Elektro doo