Study Stara Planina

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Study Stara planina Jabucko Ravniste

StudyStudyfor the 1 A phase of resort

development at Jabucko Ravniste, inthe region of Stara Planina

April 21


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Contents

1! "#P$R%A&% &$%"'(..........................................................................................................3

2! )(&(RA* +RA#(..................................................................................................................4

The Republic of Serbia................................................................................................................4

Stara Planina..................................................................................................................................6

Project background......................................................................................................................9

! $-(R-"(. $+ %/( PR$J('%......................................................................................10

Long-term concept.....................................................................................................................10

First phase of tourist oer development on Stara Planina.........................................14

0! #$(* +$R PR$J('% "#P*(#(&%A%"$&.........................................................17

Model for project implementation........................................................................................17

nvestments...................................................................................................................................18

!ho is potentiall" suitable partner for Serbia in this project....................................20


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1! "#P$R%A&% &$%"'(

#ll the communication or $uestions regarding this document should be addressedto%

Mirjana Doni-Beaton

Coordinator of Sales

Coo!eration "it# Co-$n%estors

&a're(a)a 3* 11000 Beo'rad

+el., 381 11 26-26-96

/a, 382 11 2181-468

-ail, irjana.(eatonj!stara!lanina.rs
mailto:[email protected]:[email protected]


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Ofcial name: The

Geographic position:South East Europe

Climate: Continental

Ofcial language:Serbian

Main religion: Christian Orthodox

Currency: Dinar (RSD)

Capital:

Space: 88.361 k!

Population: ".#$8.%%1(&ensus !%%!)

Time zone: 'estern European (T*%1.%%(

THE REPU!"C O# SER"$


2! )(&(RA* +RA#(

The Republic of Serbia

)eneral information

Serbia is situated at central region of &alkan Peninsula in South 'ast 'urope(occup"ing an area of ))*+, s$uare kilometers* Location of Serbia( at theintersection of Pan 'uropean .orridors / 01anube .orridor2 and 3 0road-railroad2( is considered as the cross-roads of South 'ast 'urope*

Serbia has three navigable rivers% the 1anube( Sava and Tisa* Passing throughten 'uropean countries 04erman"( #ustria( Slovakia( 5ungar"( .roatia( Serbia(&ulgaria( Romania( Moldova and 6kraine2( the 1anube river gives Serbia ane7cellent strategic position* !ith 8)) navigable kilometers through Serbia and itsnumerous tributaries( the 1anube represents the most important river in Serbia*

Serbia borders 9ith &ulgaria to the 'ast( Romania to the :orth 'ast( 5ungar" tothe :orth( .roatia and &osnia-5er;egovina to the !est( Montenegro to the South

!est and #lbania and Macedonia to the South* The total length of lendboundaries is ojvodina situated in :orthern Serbia( is mainl" ?at area( 9hile.entral and Southern Serbia are covered 9ith hills and mountains* The highestmountain peak is 1jeravica 0


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stabilit" and creating basis for long term gro9th* Republic of Serbia reali;ed in


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The onl" state out of .S 9ith a Free Trade #greement 9ith Russian

Federation

t is still not a member of '6B higher ?e7ibilit" and advantages for investing

The lo9est corporate proAt ta7 in 'urope 032

Skilled labor force at relativel" lo9 costs

5ighest percentage of 'nglish language speakers in South 'ast and .entral

'urope

'$ual treatment of foreign and domestic investors

Serbian tourism

Toda"( main tourist products of the Republic of Serbia are% spa centers and

climate resorts 0>rnjacka &anja( Soko &anja( &anja Eoviljaca( and &anja Eanji;a2(

mountain destinations 0Eopaonik( Glatibor( 1ivHibare( and Tara2( cit" centers

0&elgrade( :ovi Sad and :is2 and events 0'IT( 4uca2*

Tourist products of Serbia( being spontaneousl" developed for domestic market

re$uirements( do not follo9 tourism trends present on the global tourism market*

5o9ever( Serbia is no9 in situation to take advantage of its starting position( to

shape internationall" competitive oer and achieve a signiAcant gro9th in

tourism sector*

Prospects of tourist development in Serbia

'ven though is not positioned on the global tourism market( Serbia has placed

tourism as one of the ke" directions of general economic and social development*

The most important reali;ed steps are the follo9ing%

Tourism development strateg" for Serbia from


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4overnment of the Republic of Serbia appropriate 83 million J6R 9ithin the

:ational nvestment Plan 0:P2 for investments in tourist infrastructure(

development of tourist brand Serbia( project of 'ducation of emplo"ees in

tourist sector 0including around +*333 emplo"ed in tourist sector included2B

For the most prospective tourist destinations 4overnment of the Republic of

Serbia Ananced production of Master plans for tourist development% Palic(

Tara( Stara Planina( 4ornje i 1onje Podunavlje( 4olija( &eljanica( Glatibor-

Glatar( Feli7 Romuliana( and Soko &anja*

Stara Planina


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Stara Planina is located in 'astern Serbia 0one third of the mountain is in Serbia(

t9o thirds are in &ulgaria2* #rea covered b" Stara Planina tourism development

plan is referring to an area of Stara Planina on the territor" of Serbia 9hich

belongs to municipalities of GajeHar( EnjaKevac( Pirot and 1imitrovgrad*

This mountain represents a part of large mountain chain called .arpathian

mountains* Cnl" its smaller 9estern part is in Serbia* #s a morphological 9hole it

is embordered b" valle"s of &eli and Trgoviski Timok( and >isocica( ant to the

'ast it is embordered b" the state border bet9een Serbia and &ulgaria* nmeridian direction it is stretching around 33 kilometers( 9hile in parallel

direction of stretching ma7imum length is +3 kilometers 0Pirotska kotlina-

Srebrna glava2*

To the north Stara Planina range begins from the bro9-side >rska cuka 0,=< m2*


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Si'nifiant !i)s of Stara 5lanina are,

Mid;or 0


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5igh9a" Sid - &elgrade - :is connects 'astern Serbia 9ith &elgrade* :is is

linked b" motor9a" 0M


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Project background

)oals and obectives of Stara Planina proect#ccording to the Tourism development strateg"( Republic of Serbia has a

signiAcant potential for mountain tourism development* 1evelopment of summer

and 9inter mountain resorts( including Eopaonik( Stara Planina( 4olija and &esna

Eobila( is planned to provide Serbia competitive position on the global tourism

market*

Stara Planina project represents the Arst green Aeld project for the development

of summer and 9inter mountain resorts in the Republic of Serbia in the last

t9ent" "ears*

t is the Arst tourism project in Serbia to be planned and developed according to

international planning and development standards*

The main goals and objectives of Stara Planina Resort area Master plan are listed

belo9%

1evelopment of "ear-round resort 9hich includes 9inter sports an ski facilitiesand other "ear-round recreational activities 9hich 9ill be attractive to a 9ide

variet" of visitors in the region*

The development that 9ill respect the natural( cultural and ecological values ofthe site*

Provide a balance in the oer of ski trailsfor all / skier skill levels* &alance mountain capacit" 9ith guest services( capacit" of Oabucko ravniste and

parking*

1evelop a childrenDs beginner area 9ith terrain suitable for teaching and sno9pla" for all famil" members*

&alance lift and trail capacit" to achieve $ualit" skiingsno9boarding conditionsand meet the re$uirements of the market*

1evelop base area facilities and accommodation oer in aQ.entral village

3usiness and market assumptions of the proect

The follo9ing facts suggest the need for $uick tourism development of StaraPlanina%

close pro7imit" andgravitation to Stara Planina 0up to one hour drive2 urbanarea of around/33 thousand people 0:is( Enja;evac( Gajecar( Pirot( 1imitrovgradand other surrounding settlements2B

increasing market for ski tourism in Serbia that is estimated to+ million skier-da"s in


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suitable geomorphologic and aerial characteristics of the mountain 9ithestablished potential for around


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! $-(R-"(. $+ %/( PR$J('%

Long-term concept

Long-term tourism development concept of Stara Planina is planned as follo9s%

Forming of entr" points 9ith necessar" information( service and recreationalcontents( and 9ith golf as an additional attractionin the bottom of the mountainB

Ealna is( connected b" ne9 traic solutions( available to all urban centers in thearea and &elgrade 0Svrljig and :i to the !est( EnjaKevac and GajeHar to the:orth( Pirot to the South( as 9ell as to OabuHko Ravnite( central place of StaraPlanina base area2B

Stara Planina mountain resort consists of%

a* base area9here major accommodation and other tourist oeris situated( and

b* ski center, representing a s"stem of ski lifts and pistes( and othersupporting mountain infrastructureB

Ma7imum long-term Skiers .arr"ing .apacit" 0skiers per da"2 on Stara Planinais estimated to be


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Oabucko Ravniste 9ill represent a main village( central point of Stara Planinabase area 9hich shall be the location of the main commercialcontents( majorpart of accommodation oer and other capacities of tourist oer 0beginnerskiing ;one( a$ua park( Atness center and other recreational amenities2*

Oabucko Ravniste is located on a mountain plateau 9ith e7pansive vie9s( closeto the (/3-meter elevation*

&abin Gub( Leskova Ravan and 4olema Reka locations( 9hich are near thebase area Oabucko ravniste as a central point( are planned as apart of basearea* Cn Leskova Ravan location additional accommodation capacities 9ill bebuilt in later development phases( 9hile &abin Gub and 4olema Reka locationsshould be used as parking places 0garages2B

&ase area services oer 9ill be developed using 9orld best practice ande7perience from not onl" developed countries( but from increasing number ofdevelopment projects in transition countries as 9ell* This business developmentmodel is kno9n as Qcondominiumi;ation*


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+&&oodation ,eds per a&&oodation unit-uber o skiers ro a&&oodation units

units,eds

%$UC&O R$'("STE

1. Destination hotel "%/ 1.$%1 !0" 1.!31

!. illa2e &ondotel 1.//" 6.!!8 #0% #.%#%

3. 4ail5 ini hotels 38" 1.161 30% "/!

#. ,, pensions !1/ 6#/ 30% #18

/.7ouses or seeral ailies 3%# 1./!% /0% 681

6. Sin2le ail5 9Chalets9 1"3 1.%38 60% !/%". +partent units 1./"3 6.%83 30$ 3.$3$

SU TOT$! )*+,) ,-*./0 12- ,,*1,,

!ES&O'$

8.7ouses or seeral ailies 1#/ "!/ /0% 3!/

$. illa2e&ondotel 8#% !./!% 30% 1.633

1%. +partent units !6% 1.%#% #0% 6"#

SU TOT$! ,*3). )*3-. 12) 3*013

TOT$! 0*,.+ 33*-0, 12/ ,1*+)1

Sour&e (o inoration) E&osi2n0 !%%"

!OC$T"O(

Total accommo4ation capacity an4 num5er o6 s7iers accommo4ate4 in the 5ase area


&ase area Stara Planinalong term development concept 0total accommodationcapacit"2( 9ith the total number of skiers accomodated in the base area is givenin the follo9ing table%

Ma7imum simultaneous number of skiersboarders 9ho 9ould beaccommodated in all available accommodation facilities in Stara Planinamountain resort could reach the number of +(= thousand* #t the same time(ma7imum number of one-da" skiersborders could reach ) thousand* n other9ords( total number of simultaneous skiersborders in the region of StaraPlanina could reach ma7imum of


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# phase of tourist oer development on Stara Planina

Taking in consideration%

ph"sical characteristics and commercial potential of the locations identiAed assuitable for construction of ski slopes 0capacit"( sno9( average slope( distanceto base area( etc*2( and

currentl" predictable level of demand 0i*e* number of potential 9inter-sportand summer activities users on Stara Planina2(

Arst phase of the tourist oer development on Stara Planina is based on thefollo9ing%

.onstruction of ski slopes that allo9 ma7imum simultaneous reception of 8*


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+&&oodation -uber -uber ounits o beds skiers

%$UC&O R$'("STE1. Destination hotel: !31 /"8 3"#!. illa2e a&&oodation (Condotel) "!1 3.%/3 1.$/%3. 4ail5 ini hotels 38" 1.161 "/!#. 7ouses or seeral ailies 136 68% 3%//. ,, pensions 6% 18% 11"6. Sin2le ail5 9Chalet9 $% /#% 13%Total ,*03. 0*,+3 1*03-

Sour&e; E&osi2n0 !%%"

!OC$T"O(

$ccommo4ation capacity an4 num5er o6 s7iers in the 5ase area in the 8rst 4e9elopm


#ll other service capacities and elements of the tourist oer are dimensioned inline 9ith the predicted number of skiersborders* 1eAned potential of 8*


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Thus( the Arst phase of Oabucko ravniste base area can generate a total of+(,


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%


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3rief information Stara planina Jabucko ravniste

0! #$(* +$R PR$J('%"#P*(#(&%A%"$&

Model for project implementation

4overnment of the Republic of Serbia decided to reali;e the development ProjectStara Planina # phase( in the part related to the construction and management ofthe Resort QOabucko ravnisteQ( through contractual - partnership relation 9ithstrategic partner or co-investor*

This because( above all( it is a project that seeks engagement of a signiAcant

Anancial assets and because( on the other side( the Republic of Serbia do not haveappropriate e7perience in this area 0construction and management of the resort2*

Proposed model is in accordance 9ith valid legal s"stem of the Republic of Serbiaand alread" e7isting practice in construction of signiAcant objects*

.ontract model represents comple7 legal 9ork essentiall" consisting of t9oseparate possibilities%

- joint construction of the resort and

- contract on integral management of constructed object*

.ontract on joint construction of the resort( as a part of the integral contractualrelation( regulate joint construction of the resort or its part* The .ontract provides(essentiall"( that both sides( the Republic of Serbia via Republic directorate forpropert" of the Republic of Serbia as one contractual part"( and strategicpartnerco-ivestor( as the second contractual part"( assume certain obligations andauthori;ations in joint business of the resort or its part construction*

Republic of Serbia( as a construction bearer( assumes as its basic obligation toprovide necessar" land at 9hich joint object 9ould be constructed according to

valid plan acts( and the obligation to secure in its favor the right to use for the

purpose of construction of the resort on that land*

Strategic partnerco-investor on its side assumes as basic obligation to organi;eand Anance complete or partial construction and e$uipping of the resort accordingto the valid plan acts and 9ithin the contracted terms*

Management of constructed object N resort is entrusted to strategic partner thatprovides necessar" kno9ledge in that area 0 VnW9 hW9 2*

20


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escription %%% Ee&t preparation 1.$3#

=eranent buildin2s 1!.1#%

Ski lits 1/."/%

Ski slopes and arti?&ial sno@ 1/.#63

Roads and parkin2 ""/

ountain inrastru&ture 1.!33

ehi&les and spe&ial eAuipent 1.6#$

Other !.6%!

Total /1./#6

Reser. /.1//

TOT$! .0*/;,


For that purpose( immediatel" after obtaining of use licence( the investor deliversthe 9hole object to the strategic partner for management( 9ho in return for isobliged to manage the resort pursuant to necessar" standards as a good andconscious partner( higl" speciali;ed for this kind of business and to pa" for it anannual allo9ance to the debit of total income( i*e* proAt*

nvestments

#n estimate of the necessar" amount of the investment for the construction of allplanned facilities for the Arst phase of Stara Planina project is based on usuale7penses of the similar objects construction in the 9orld( corrected concerningspeciAc construction market conditions in Serbia* n that sense( global investmentstructure for the object is sho9n in recapitulation*

Investments in ski center Stara Planina

&ased on the predictable si;e of built areas according to purpose( total necessar"investments in ski center are estimated to 8,(/ million euros*

Total necessar" investments in the phase of the tourism development of StaraPlanina are estimated as follo9s%

Total business investment, including Stara Planina ski center

21


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E


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Road inrastru&ture Option / to 6 illion E


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!ho is potentiall" suitable partner for Serbia in thisproject

There is no doubt that the most suitable partner for Serbia in the reali;ation of thisproject 9ould be one of the respectable companies 9ith the e7pertise in thedevelopment and management of the similar projects( hotel and condominiumoperators( and also 9ith strength for the e7tensive marketing promotion of theproject*

These are usuall" companies 9ith the e7perience in the development of mountineand other resorts in dierent parts of the 9orld*

nvesting of those companies in transition economies 9ould be ver" usefull( sincethis project is taking place in an transition countr"*

nterested companies should be able to take part in further planning and design ofthe project as 9ell as taking over Anancing( project management and organi;ingoverall operational management of the future resort Stara Planina*

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Study Stara Planina