katalog investicija

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CATALOGUE Of

INVESTMENTOPPORTUNITIESRepublic of Croatia



3

IntroductIon

Ivan VrdoljakMinister o Economy

Vesna PusićFirst Deputy Prime Ministerand Minister o Foreign andEuropean Aairs

Branko GrcićDeputy Prime Ministeror Economic Aairsand Minister o RegionalDevelopment and EU Funds

Zagreb, June 01

Dear Prospective Investor,

We are delighted to present you with the Catalogue o Investment Opportunities, an overview

o various investment projects in the Republic o Croatia. By bringing this Catalogue to your

attention, we wish to introduce you to the remarkable investment potential Croatia has in

various economic sectors - potential that can bring numerous rewards to our interested

international partners. Collecting noteworthy projects in one brochure and presenting

them to a wider audience is a part o Croatian Government’s dedicated eorts o attracting

investment and improving business climate in Croatia.

This glimpse o Croatia’s current investment potential entails some o the most interesting

projects oered in Croatia and promoted by relevant institutions working in the eld o attracting investments, i.e. Ministry o Regional Development and EU Funds, Ministry o

Foreign and European Aairs, Ministry o Economy, Ministry o Entrepreneurship and

Crats, Ministry o Maritime Aairs, Transport and Inrastructure, Agency or Investments

and Competitiveness, Center or Monitoring Business Activities in the Energy Sector and

Investments, Croatian Agency or SMEs and Investments and Croatian Chamber o Economy.

Aware o the importance o oreign direct investments or a dynamic and sustainable growth

o the economy, the Croatian Government recently considerably increased incentives or

launching investment projects and has been continuously implementing new regulations

to encourage investors to expand their business operations to the Republic o Croatia.

Our goal is or Croatia to become one o the most attractive investment destinations inEurope. To this end, the Croatian Government will continue to urther develop our business

environment and the already existing high quality services Croatia oers to oreign

investors.

Each project summary presented here provides initial inormation as a basis or entering

into in-depth project assessment. This publication also includes contacts o the person

responsible or providing you ull inormation on each project. We will be happy to give

all urther materials you may be interested in receiving and ensure proessional assistance

during the entire investment process.

Respectully,



table of contents

1. PROFILES OF INSTITUTIONS FOR INVESTMENT SUPPORT

1.1. Agency for Investments and Competitiveness (AIK) 08

1.2. Center for Monitoring Business Activities in the Energy Sector and Investments (CEI) 09

1.3. Croatian Agency for SMEs and Investments (HAMAG INVEST) 10

1.4. Croatian Chamber of Economy (HGK) 11

2. STATE-OWNED PORTFOLIO

2.1. TOURISM REAL ESTATE PROJECTS 13

2.1.1. Project Kupari-Srebreno 14

2.1.2. Project Pineta 16

2.2. TOURISM COMPAnIES 19

2.2.1. Bizovačke toplice 20

2.2.2. Dalma 22

2.2.3. HOC Bjelolasica 24

2.2.4. Hotel Medena 262.2.5. Hoteli Maestral 28

2.2.6. Hoteli Makarska 30

2.2.7. Hoteli Plat 32

2.2.8. Hoteli Podgora 34

2.2.9. Hoteli Živogošće 36

2.2.10. HTP Korčula 38

2.2.11. HTP Orebić 40

2.2.12. Imperial Rab 42

2.2.13. Modra špilja 44

2.2.14. Vranjica Belvedere 46

2.3. InFRASTRUCTURE PROJECTS 49

2.3.1. Osijek Airport 50

2.3.2. Port of Dubrovnik 52

2.3.3. Port of Ploče 54

2.3.4. Port of Zadar - Gaženica 56

2.3.5. Rijeka Airport 58

INTRODUCTION



3. PRIVATE PROJECTS

3.1. Aristos Hotel 62

3.2. Banko 64

3.3. Biodiesel Production 66

3.4. Biograd Health & Tourist Centre 68

3.5. Biska Golf Resort 70

3.6. Brod 72

3.7. Croatian Dream – Dubrovnik Pearl 74

3.8. Hipersfera 76

3.9. Hortus Croatiae 783.10. Imperium Tower 80

3.11. Rimac Automobili 82

3.12. Riviera Pašman 84

3.13. Strategic Plan (Benkovac) 86

3.14. Strategic Plan (Županja) 88

3.15. Sv. Martin Hotel and Resort 90

3.16. Tourist Zone Rastovača 92

3.17. Wellness & Health Centre Nin 94

4. TECHOLOGY INCUBATORS

4.1. STeP Ri 98

4.2. Technology Park Varaždin 99

4.3. Zagreb Entrepreneurship Incubator 100

5. SUMMARY OF THE ACT ON INVESTMENT PROMOTIONAND ENHANCEMENT OF INVESTMENT ENVIRONMENT

5.1. Incentive Measures for Investment Projects 104

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ProfIles of InstItutIonsfor InVestMent suPPort

Agecy for Ivestmets a Competitiveess AIK

Ceter for Moitorig Busiess Activities i the Eergy Sector a Ivestmets CEI

Croatia Agecy for SMEs a Ivestmets HAMAG InVEST

Croatia Chamber of Ecoomy HGK



agency for InVestMents and coMPetItIVeness

WHo are We?

The Agency or Investments and Competitiveness (AIK) is an agency o the Croatian Government whose main task is topromote Croatia as a desirable investment destination, proactive attracting and implementation o investment projects aswell as enhancement o the competitiveness o the Croatian economy on a global level.Our role is to be the central place which ensures investors a transparent and all-encompassing service using a tailor-madeapproach in the implementation o investment projects in the Republic o Croatia.

MIssIon

„The AIK´s mission is to enable the investors to quickly and successully achieve their business projects in the Republic o Croatia with its services and proessional attitude, to promote sector specialization, cluster competitiveness and identiy

measures to streamline their business and raise the level o competitiveness in the Republic o Croatia.”

VIsIon

„The AIK’s vision is to act through attracting and encouraging investments and raising competitiveness o the Croatianeconomy to ensure that Croatia becomes a highly competitive country in the region with signicant growth and developmentthat will be based on knowledge, products and services o high added value, which will contribute to new employment.”

our goals

• to increase the number of investment projects• to create new workplaces• to enhance the investment environment

our serVIces

Our strength lies in a young and experienced team that will use its knowledge and experience to oer you the bestsupport in the implementation o your investments. All our services are ree o charge.

WE ARE AT YOUR DISPOSAL FOR ALL YOUR QUESTIONS!

CENTRAL PLACE FOR THE IMPLEMENTATION OF YOUR INVESTMENT

Promotion of Croatia asan investment destination

Support of the implementationof investment projects through

Increasing the competitivenessof the Croatian economy

• Strengthening o Croatia’simage as a globally

competitive economy

• Preparation and organizationo specic seminars/conerences on investmentopportunities in Croatia

• Coordination o allpromotional activities on theinternational market withpartner institutions

• Oering o all the necessaryinormation on business

opportunities in Croatia

• Preparing projects orinvestment in Croatia

• Supporting investmentprojects in all phases o implementation through“tailor-made” approach

• Improvement o investmentenvironment

Agecy for Ivestmets a CompetitiveessRadnička cesta 80, 10 000 Zagreb, Croatia

www.aik-invest.hr, e-mail: [email protected], phone: + 85 1 686 800, ax: +85 1 686 89

• Removal o administrativebarriers

• Support to the work o clusterso competitiveness



about ceI

The CEI was established with the objective o nding solutions or improving the nancial eectiveness o companies inthe energy sector in which the state has shares or stakes, and appropriate and targeted directing o unds in a manner thatensures the greatest and most long-term economic return, stable growth and centralised and systematic monitoring o investments in the Republic o Croatia.Our goal is to enable the transparent administration, monitoring and implementing o the energy strategy o the Republic o Croatia, and in a systematic manner to cover and provide support in managing investments o the state and o state-ownedcompanies.

our core actIVItIes4 BASIC PILLARS OF CEI:

1. Preparing capital energy projects and supporting renewable energy sources

. Monitoring public investments

. Developing new public – private partnerships

4. Increasing public investments

ALL dIVIdEd In THREE SECTORS:

• ENERGY SECTOR

• INVESTMENT SECTOR• PPP SECTOR

goal and PurPose of ceI

Making inormation on investments by public Companies transparent to the Government and citizens.

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The Ceter for Moitorig Busiess Activities i Eergy Sector a IvestmetsMiramarska 4, 10 000 Zagreb, Croatia

www.cei.hr, e-mail: [email protected], phone: +85 1 640 600

ceI - tHe center for MonItorIngbusIness actIVItIes In tHe energy sector and InVestMents

developmet of e ivestmets

PPP

Eable asupport

evelopmets ithe eergy

sector

Facilitatetrasparecy i

moitorigpublic

ivestmets

Registery of ivestmets

Quality ata for aalysis aecisio makig available to

everyoe, all the time

Better cotrol over speigof govermet moey

trasparet speig

Eabilig e ivestmetcycles i the ecoomy

Icluig the geeral public =emistifyig ivestmets by

public compaies



about HaMag InVest

HAMAG INVEST (Croatian Agency for SMEs and Investments) was established by the Government of the Republic of Croatia

with the purpose of enhancing SME development and investment promotion. HAMAG INVEST is an independent institution

under the supervision o the Ministry o Entrepreneurship and Crats o the Republic o Croatia.

our core actIVItIes

• Investment promotion

• Issuing guarantees for bank credits to SMEs

• Grant schemes implementation

• Co-nancing consultant services

We aIM to

• Facilitate creation of favourable environment for entrepreneurship and investment

• Actively promote Croatia as an attractive location for investment

• Provide active support to the economic development of Croatia

• Create positive international image of Croatia

our serVIces for InVestors

• Dissemination of information about advantages of investing in Croatia

• Providing information about investment opportunities in Croatia

• Providing support to foreign investors regarding their investment activities

• Providing foreign investors with information about legislation, incentives, locations, potential suppliers

• Providing assistance with the application for investment incentives

• Facilitating communication between foreign investors and national and local authorities

• Aftercare services for foreign investors already operating in Croatia

HaMag InVest-croatIan agency for sMe and InVestMents

HAMAG InVEST Croatia Agecy for SMEs a IvestmetsPrilaz Gj. Deželića, 10 000 Zagreb, Croatia

www.investcroatia.hr, e-mail: [email protected], phone: +85 1 488 105



The Croatian Chamber o Economy is an independent proessional and business organisation o all legal entities engaging in

business. The Chamber consists o the Headquarters in Zagreb and 0 county chambers. Functionally, the CCE consists o 8

departments dealing with the respective branch o the economy, and it also includes 40 proessional associations, 87 groups

and 19 aliations. Apart rom this, within the CCE act ve business centres, Permanent Arbitration Court, Conciliation Centre,

Court o Honour and CCE Oce or Areas o Special State Concern.

nuMerous databases

• Online catalogue of investment projects (available on www.hgk.hr )

• Croatian company directory - more than 85,000 active members

• Business opportunities exchange

• Business zones

• Croatian export directory

• Croatian Waste Materials Exchange

InforMatIon

• On relevant regulations and laws in the eld of investment and economics

• On current economic situation in Croatia

• On how to start-up business in Croatia

• On national and local investment incentives and opportunities

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croatIan cHaMberof econoMy

Croatia Chamber of Ecoomy, Ivestmet Promotio CetreRooseveltov trg , 10 000 Zagreb, Croatia

www.hgk.hr, e-mail: [email protected], phone: +85 1 4606 780

assIstance

• Linking potential investors with project holders

• Facilitating communication with the institutions on national and local level

• Support to the investors in dealing with administrative procedures on all levels

• Providing suppliers’ database and facilitating contact with potential business partners• Organising individual, tailor-made visits of potential investors to Croatia

Assistance provided on all levels through a network o 0 County Chambers in Croatia.



Project Kupari Srebreo

Project Pieta

state-oWned PortfolIo TOURISM REALESTATE PROJECTS

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Project KuParI-srebreno,Kupari

PotentIal transactIon

current status of tHe real estate Included In tHe Project

The main goal o this potential transaction is to contribute

to urther development o high-end tourism in Dubrovnik-Neretva County through the completion of the state owned

real estate project Kupari-Srebreno.

The project is on one o the most attractive locations in the

region and potentially includes three sites:

Kupari I, which covers a land area o 14 hectares oreseen

or building/reconstruction o hotel accommodation

capacities with approximately 1,500 beds,

Kupari IV, an undeveloped area on 1 hectares, planned or

construction o accommodation acilities (total 800 beds),

Srebreo II, covers 6.1 hectares and is oreseen or

construction o a congress centre (000 participants) and

additional accommodation acilities (hotel with 100 beds).

Although all basic inrastructure connections are available

on the site, the Project development would require upgrade

o same capacities, primarily a new transmission line

(10/20kV).

OBJECTIVE:

To develop the Project by investing in the construction o

a new tourist resort, including new acilities and amenities,

and introducing modern destination management

practices.

The Kupari Tourist Complex is a ormer military resort,situated in the village Kupari, near the Old City o Dubrovnik (11 km) and Dubrovnik International Airport (16 km).

At the beginning o the 1990s the whole Complex wasdestroyed and no investments have been made inreconstruction o existing or building new capacities since.

Today a part o the resort (Kupari I) includes ve non-

operating hotels and the Kupari Auto Camp which was leaseduntil the end o 01. The total accommodation capacity o all ve hotels, situated near the waterline, was 1,66 beds.The auto camp could accommodate 4,500 people.

All acilities are in a very poor condition and need signicantreconstruction or rebuilding.While Srebreno II was a ormer auto camp, the area o KupariIV has not been developed yet.

transactIon ModelTo be determined; combination o land sale and right to build.

Public tender is expected to be published in the course o 01.

DISCLAIMER: Information contained in this document has been provided by Agency for Investments and Competitiveness of the Republic of Croatia. Purpose of this document is to give shor t information about companies and /or

posibilities to potential investors. The proleis for information purposes only. No responsibility or liability is accepted for the information in this document.

DISCLAIMER: Information contained in this document has been provided by Agency for Investments and Competitiveness of the Republic of Croatia. Purpose of this document is to give shortinformation about companies and /or posibilities to potential investors. The prole is for information purposes only. No responsibility or liability is accepted for the information in this document.

Agecy for Ivestmets a Competitiveess, Raika cesta 80, 10 000 Zagreb, Croatia



Project name:

Address:

Kupari-Srebreno20 207 Mlini, Kupari

Project locatIon: dubroVnIK-neretVa county

contacts

PortfolIo of eXIstIng facIlItIes

15

Population (011): 122,783

GDP per capita (010): 10,457 EUR

Unemployment rate (011): 18.8%Average gross salary: 994 EUR

Average gross salary in the sector (tourism): 984 EUR

Dubrovnik-Neretva County comprises 5 cities and 17municipalities. The County includes smaller islands coveredin thick Mediterranean vegetation and orests, smallersettlements and agricultural lands (olive groves andvineyards).

The main characteristic o the County’s economy is the

predominance o tertiary services with tourism andhospitality industries and maritime shipping as mainactivities. The region also has signicant agriculturalpotentials in the area of the Neretva River Delta Valley andin the Pelješac Peninsula known or the active production o high quality wines.

The County is very well connected by Dubrovnik International Airport, close proximity to the modern A1Split-Zagreb Highway, the deep sea port o Dubrovnik

suitable or cruisers as well as an important cargo portPloče (gateway o the uture Pan-European transportationcorridor Vc). Dubrovnik’s famous medieval old town (listedon UNESCO’s world heritage list since 1979) along with theisland o Korčula has positioned Dubrovnik and the Countyas a high-end European and global tourist destination (NewYork Times shortlisted Dubrovnik among 45 places to visit in01).

Tourism is constantly developing as a strategic industry orthe County, through investments in new and existing hotels,sports and inrastructure capacities (14 ve-star hotels and17 our-star hotels, two gol resorts planned within 5 km, anew investment in ACI Marina Slano).

The potential or high-end tourism has already beenidentied by international hotel chains (Hilton, RadissonBlue, Rixos, Uzel Holding, Adriatic Luxury Hotels and LuksicGroup) present in Dubrovnik.

The educational inrastructure relevant to the sector includeshigh schools or hospitality and catering, and two universitieswith excellent programs related to tourism (ACMT-RIT NewYork and Dubrovnik University).

Agency or Investments and Competitiveness (AIK), www.aik-invest.hr, e-mail: [email protected]. Damir Novinić, Managing Director, e-mail: [email protected] or State Property Management (AUDIO), www.audio.hr, e-mail: [email protected] o Tourism, www.mint.hr, e-mail: [email protected]

HOTELS:

Gra Hotel: built in 190, renovated in 1979, with a totalo 19 beds and net developed area o 6,10 m2. Allowedconstruction density (KIG) is 0.0 while allowed constructioneciency (KIS) is 0.40,

Goriia I Hotel: built in 1965, with 16 beds, net developedarea o ,140 m2, KIG 0.44 and KIS 1.19,

Goriia II Hotel: built in 1980, with 5 beds, net developedarea o 1,8 m2, KIG 0.44 and KIS 1.19,

Pelegri Hotel: built in 1966, with 419 beds, net developed

area o 7,46 m2, KIG 0.49 and KIS 1.,Kupari Hotel: 554 beds, net developed area o 19,894 m2,KIG 0.0 and KIS 0.96.

AUTO CAMP

Kupari Auto Camp: possibility to accommodate 4,500people.

DISCLAIMER: Information contained in this document has been provided by Agency for Investments and Competitiveness of the Republic of Croatia. Purpose of this document is to give short information about companies and /or


DISCLAIMER: Information contained in this document h as been provided by Agency for Investments and Competitiveness of the Republic of Croatia. Purpose of this document is to give shortinformation about companies and /or posibilities to potential investors. The prole is for information purposes only. No responsibility or liability is accepted for the information in this document.




Project PIneta,Fažana

Project descrIPtIon

Planned caPacItIes

Brijuni Rivijera Ltd. is a development company founded

in 00 by public authorities (The Republic o Croatiaand Istria County) with the purpose to develop and

implement the project o Brijuni Rivijera, based on the

Master Plan o Istrian tourism o Brijuni Rivijera area. It

is planned to be developed on three unique locations:

Pineta, Hidrobaza and Sv. Katarina and Monumenti,

which should be proled as the highest category tourism

destination.

Selected Brijuni Rivijera locations are situated in the

south-western part o the Istrian coast, on the ground o

the Municipality of Fažana in the North and the City of

Pula in the South. The Pineta site is situated just in ront o

the Brijuni Islands, hal a kilometre near Fažana.

The total surace o the Pineta location is 50 hectares.

The planned building surace is 11.4 hectares, and the

remaining 8.6 hectares include an area or sports and

recreation and the beach in a pine orest overlooking the

Brijuni Islands.

According to the Urban Development Plan o the Municipalityo Fažana, the available area is determined or the ollowingproposed acilities:

HOTEL:

Hotel 4 – 5 *, with a total o 650 beds.

AddITIOnAL FACILITIES:

• Additional food and beverage facilities• Wellness centre, swimming pool and tennis courts• Promenade with a central square.

transactIon Model To be determined; combination o land sale and right to

build. Public tender is expected to be published in the

course o 01.







Company name:

Address:

Website:

Brijuni Rivijera Ltd.52 100 Pula, Riva 8www.brijunirivijera.hr

Project locatIon: IstrIa county

contacts

17

Istria County is located on the largest Croatian peninsula

o Istria, on an area o ,80 m2 and has excellent transport

connections with main European motorways (Istrian “Y”

motorway connects Istria with highways in Slovenia, Italy

and Austria) and by air (International Airport in Pula).

Istria is one o the most developed Croatian regions with

dominant industry (shipbuilding, production o building

materials, tobacco products, urniture, glass and electrical

machinery and parts or the automotive industry), tourism

(1.6% o all arrivals and 5.% o all overnight stays in

Croatia in 011) and trade sector. In recent years, a great

attention was paid to the revitalization o agriculture

(especially olive growing and organic ood production)

and the related development o enogastronomic tourism

(autochthonous wines Malvasia, Teran, highly esteemedwhite true) and agro-tourism, particularly in the

hinterland o Istria, which is recognized as the “Tuscany o

Croatia”.

There is a very long tradition o tourism that has been

developing rom the period o the Roman Empire through

the Austro-Hungarian Empire (when tourist centres Umag,

Poreč, Rovinj, Pula, Rabac, including the Brijuni Islands

were strongly developed). In the past decade, intensive

investments (760 million EUR) in a construction o new

and reconstruction o existing, primarily high-class hotelacilities were made resulting in a signicant increase o

ve-star hotels (total o 4) and our-star hotels (total o 6).

In the structure o accommodation, rom a total o 50,00

units, camps are the most represented (44.4%), ollowed

by private accommodation (.6%), apartments and rural

tourism (1.8%), hotels (11.%) and accommodation in the

marinas (6.7%). Main markets in terms o overnight stays

are Germany (8.7%), Slovenia (14.%), Austria (11.0%) and

Italy (10.6%).

Strong domestic brands (Istraturist Umag, Maistra and

Valamar) prevail but international brands such as the

Kempinski Hotel and Sol Melia are present as well, primarily

as management companies.

The wide and diversied range o acilities enables thedevelopment o various kinds o tourism: sports tourism

(currently out o 4 gol courses in Croatia are in Istria

- Umag and Brijuni, the construction o a third gol

project Marlera has commenced, and the International

ATP tournament holds place in Umag), cultural tourism

(Motovun Film Festival, perormances by world-renowned

artists in Vespasian’s Roman amphitheatre-Pula Arena,

Theatre Ulysses), nautical, convention, hunting, shing,

and diving tourism.

Further development o tourism in this region will beensured with new projects, notably the Brijuni Riviera

which is to be developed on three locations (Pineta,

Hidrobaza and Sv. Katarina i Monumenti on total land area

o 114 ha), and should additionally prole the County as a

tourist destination with a wide range o capacities o the

highest category.

Agency or Investments and Competitiveness (AIK), www.aik-invest.hr, e-mail: [email protected]

Mr. Damir Novinić, Managing Director, e-mail: [email protected] or State Property Management (AUDIO), www.audio.hr, e-mail: [email protected]

Ministry o Tourism, www.mint.hr, e-mail: [email protected]


GDP per capita (010): 12,897 EURUnemployment rate (011): 11.5%

Average gross monthly salary: 997 EUR

Average gross salary in the sector (tourism): 1,142 EUR







state-oWned PortfolIo TOURISM COMPANIES

19

Bizovake toplice

dalma

HOC Bjelolasica

Hotel Meea

Hoteli Maestral

Hoteli Makarska

Hoteli Plat

Hoteli Pogora

Hoteli Živogošće

HTP Korula

HTP Orebić

Imperial Rab

Mora špilja

Vrajica Belveere



bIzoVacKe toPlIce P.,Bizovac

transactIon

coMPany

Republic o Croatia through the Agency or State Property

Management (AUDIO) has the goal to nish the privatisationprocess o its tourism portolio (hotel companies owned andpartially owned by the Republic o Croatia).

PRIVATISATIOn MOdEL:The company Bizovačke toplice Plc. is currently undergoinga pre-bankruptcy settlement procedure, which, according

to the Act on Financial Operations and Pre-bankruptcy

Settlement Procedure (OG 108/1; 144/1), allows a takeovero the Company through a proposal o a restructuring plan.In case o interest, the potential partners are invited tocontact the management o the Company with whomthey should submit the plan o nancial and operationalrestructuring, which will be the subject o creditorsapproval.

Bizovačke toplice is a joint stock company located in

Bizovac. The Company has the biggest spa in the easternpart o Croatia and provides hotel and catering services,health tourism, organization o congresses and huntingtourism, sport and recreational services as well asorganization o cultural, artistic and other events.

The entire complex o Bizovačke toplice Plc. has developedaround two springs o geothermal water since 1970. Itis one o the warmest springs (up to 90° C) o superior,unique quality o iodine geothermal water in Europe. Thespa acilities cover the area o 17.5 hectares out o whichapproximately 14 hectares are built up, whereas the

remaining land is predominantly agricultural land.

The Company has a great location in Osijek-BaranjaCounty (18 km away rom the City o Osijek, the Countyadministrative centre), near the Highway on the PanEuropean Corridor and the Hungarian border.

fInancIal data (in EUR:)

Year 2010 2011 2012

Operating revenues 1,40,7 1,80,7 1,704,16

Operating expenses ,9,561 ,88,97 ,4,88

EBIT (1,990,88) (,008,601) (1,78,70)

EBITDA (1,55,774) (1,96,51) (1,106,65)

Net income (2,894,041) (3,319,976) (3,104,121)Total assets 15,960,886 14,916,767 14,146,060

Total liabilities 1,17,646 14,5,55 16,856,760

Number of employees 108 108 107

saleShares on sale: 86,785 99.44% of share capital

Average price on the stock market: oliste compay







21

Agency or Investments and Competitiveness (AIK), www.aik-invest.hr, e-mail: [email protected]. Damir Novinić, Managing Director, e-mail: [email protected] or State Property Management (AUDIO), www.audio.hr, e-mail: [email protected]čke Toplice Plc., www.bizovacke-toplice.hr, e-mail: [email protected]

Company name:

Address:

Website:

Bizovačke Toplice Plc.31 222 Bizovac, Sunčana 39www.bizovacke-toplice.hr

osIjeK-baranja county InforMatIon

contacts

real estate PortfolIo



Unemployment rate (011): 28.5 %



Osijek-Baranja County is located in the Pannonian Plain inthe North-East of Croatia. The center of the County is the

City o Osijek, which represents administrative, economic,cultural and educational center o Eastern Slavonia.Natural resources, a well-preserved environment, relatively

unpolluted soil, an abundance o waterways and a moderateclimate oer a richness in fora and auna (the world amousSlavonian orests). Agriculture and a modern, high-techood processing industry (large investments have recentlybeen made in intensive organic agriculture) are the most

important economic activities.

A growing industry is ethnic cuisine tourism (wine roads

and traditional Slavonian cuisine based on local organic

agricultural products), traditional hunting and health

tourism developed on geothermal springs. The County

is internationally known by its Lipizzaner horse farm and

traditional olklore estival (Đakovački vezovi).The County has launched nature-protective measures in

16 protected areas, among which is the amous Kopačevo

Wetlands Natural Park (Kopački rit), especially known as an

ornithological and waterowl habitat.

The most important road access to the County is Zagreb-

Lipovac Highway, as well as the highway on the Pan-

European Corridor Vc (Budapest – Osijek - Sarajevo – Ploče).

The University o Osijek is the centre o higher education o

the County.

HOTELS:Thermia Hotel **: 4 levels, 109 accommodationunits (99 rooms, 10 apartments), size 17,659.5 m2, built in1990,Toplice Hostel **: one level, size 1,800.16 m2, 7 rooms,built in 1974.

SPORTS And RECREATIOn FACILITIES (total size7,874.5 m2):Aquapolis: multiunctional swimming and recreationalcomplex with 9 dierent swimming pools and sports and

leisure acilities (tennis court, elds or ootball, handball,basketball, volleyball and beach volleyball). The indoor

acilities consist o table-tennis and saunas.Comple of sprig ater pools ( indoor and outdoorswimming pools).

MEdICAL/SPA AREA:Health resort o the Bizovac Spa.

AREA:Total acility area: 8,86.60 m2,Net land area: 175,992 m2,

Land area available for further construction: 63,147.50 m2(allowed construction density: 0.50).







dalMa P.,Split

transactIon

coMPany

The Republic o Croatia through the Agency or State Property


PRIVATISATIOn MOdEL:The company Dalma Plc. is currently undergoing a pre-bankruptcy settlement procedure, which, according to the

Act on Financial Operations and Pre-bankruptcy Settlement

Procedure (OG 108/1; 144/1), allows a takeover o theCompany through a proposal o a restructuring plan.

In case o interest, the potential partners are invited tocontact the management o the Company with whomthey should submit the plan o nancial and operationalrestructuring, which will be the subject o creditors approval.

Dalma Plc. was originally established as a tradingcompany. However, with the expansion o the City o

Split it re-oriented its business rom trading to tourism.

Its business is implemented through two tourist acilities:

the Dalmina Hotel in Split and the Brzet Hotel in the

neighbouring town Omiš.

The Company owns 8,000 m2 business complex where

there is a possibility o extending the existing hotel

acility with a layout area o 4,000 m2 in a new hotel orother business capacity.

Year 2010 2011 2012

Operating revenues 50,94 68,710 1,40,881

Operating expenses ,05,58 967,70 1,816,58

EBIT (,785,14) (698,99) (475,701)

EBITDA (,566,710) (51,870) (97,69)

Net income (3,446,608) (803,514) (1,202,361)

Total assets ,840,674 ,19,440 ,05,070


saleShares on sale: 1,046,303 84.30% of share capital

Average price on stock market: liste compay but ithout traig history








23

Company name:

Address:

Website:

Dalma Plc.21 000 Split, Kopilica 5www.hoteldalmina.hr, www.brzet.hr

sPlIt-dalMatIa county InforMatIon

contacts


Agency or Investments and Competitiveness (AIK), www.aik-invest.hr, e-mail: [email protected]. Damir Novinić, Managing Director, e-mail: [email protected]

Agency or State Property Management (AUDIO), www.audio.hr, e-mail: [email protected]

Dalma Plc., www. hoteldalmina.hr, www. brzet.hr, e-mail: [email protected]

The total accommodation capacity is 06 beds allocatedbetween the Dalmina and Brzet hotels.

HOTELS:

dalmia ****: a new hotel in the City o Split with 5accommodation units, a cocktail bar and congress acilities;originally intended to meet the needs o business people,Brzet ***: the pavilion-like hotel near Omiš with 88accommodation units, consisting o three -level pavilionswith a total acility area o ,606 m2 and a net land area o 17,6 m2.

COnVEnTIOn CEnTRE:There are congress acilities in the Dalmina Hotel (166m2) with a meeting room and a conerence/banquet hallaccommodating up to 00 people.


The Kopilica Complex with a total area o approximately6,000 m2 with approximately 4,000 m2 gross constructioncapacity,

1 smaller oces on the outskirts o Split.



Unemployment rate (011): 24.0%



Split-Dalmatia County encompasses the territory o the

historical region o Dalmatia, and is easily accessible via

Zagreb-Split Highway and Split International Airport.

The most important economic activity is tourism. There is a

total o 117 hotels ( ve-star and 39 our-star hotels, while

the remaining 76 are three- or two-star). In addition to hotels,

accommodation is provided in apart-hotels, tourist resorts,

tourist apartments and auto camps. The overall accommodation

capacity provided is approximately 13,000 beds.

There are 10 marinas (4 on islands and 6 on the mainland)

with a total o 1,814 berths.

The present international hotel chains in Split include the Le

Meridien Lav and the Hilton Hotel Marjan which is planned

or opening.

The County’s tourist potential includes: a rich heritage andcultural oer, catholic pilgrimage destinations, active andsports holidays and health tourism. There are UNESCO

heritage sites in Split (Diocletian Palace) and Trogir; catholicpilgrimage destinations (Sinj, Vepric and vicinity to famous

Medjugorje); rating on the River Cetina in Omiš area, andhiking, walking and cycling paths on mountains Marjan andBiokovo.

A large number o high schools oer education in the

hospitality and catering sector, while the Split University

provides undergraduate and graduate programs in

tourism.







transactIon

coMPany


Year 2010 2011 2012

Operating revenues ,974,88 78,455 870,148


EBIT (441,541) (1,85,184) (1,408,719)

EBITDA (17,14) (1,454,481) (1,010,80)

Net income (404,932) (2,197,608) (1,980,334)Total assets 15,46,991 1,565,071 1,058,695

Total liabilities ,75,841 ,06,01 4,84,460


saleStake on sale: 76.0% o total stake

Hoc bjelolasIca l.,Jasenak

The company is majority-owned by the Republic o Croatia

(76.0%), and its acilities are currently managed by Club

Adriatic Ltd. (also owned by the Republic of Croatia). The

main part o Company’s business activities are commercialactivities (retail, tourist and hospitality activities), while the

other part consists o activities o public interests, such as

sports activities on Bjelolasica and Begovo Razdolje ski

resorts and utility services (heating, maintenance o water

supply system and wastewater treatment).

The tourist and hospitality services are perormed on three

locations: in the tourist village Bjelolasica, Begovo Razdolje

(Jastreb Hotel) and town Ogulin (restaurant). The tourist

village Bjelolasica is located 7 km rom Ogulin. It was

partly renovated in 1998, and consists o accommodation

capacities and numerous sport acilities. The Bjelolasica ski

resort consists o three double chairlits and eight ski slopes.However, the central building, used as a catering acility, was

destroyed in a re in 011. To put the tourist village in ull use,

a new catering acility needs to be constructed, while some

pavilions also require reconstruction and/or adaptation.

The Jastreb Hotel is located in Begovo Razdolje, the only

settlement in Croatia above 1,000 meters above the sea level, 55

km rom the City o Rijeka and 115 km rom Zagreb. The Sabljaci

Restaurant is situated on the Sabljaci Lake, 4 km from Ogulin.

Republic o Croatia through the Agency or State Property


PRIVATISATIOn MOdEL:The company HOC Bjelolasica Ltd. is currently undergoinga pre-bankruptcy settlement procedure, which, to the Acton Financial Operations and Pre-bankruptcy SettlementProcedure (OG 108/1; 144/1), allows a takeover o theCompany through a proposal o a restructuring plan.

In case o interest, the potential partners are invited tocontact the management o the Company with whomthey should submit the plan o nancial and operationalrestructuring, which will be the subject o creditorsapproval.







25

Company name:

Address:

Website:

Hrvatski olimpijski centar Bjelolasica Ltd. (HOC Bjelolasica)Vrelo, Jasenak (Town of Ogulin)www.bjelolasica.hr

KarloVac county InforMatIon

contacts







The Karlovac County is located in central Croatia. It is a traclink between continental and coastal Croatia, and also thehub o the modern highway connecting Central Europe to

the Adriatic Sea. In the West it borders with the Republic o Slovenia and on the East with the Republic o Bosnia andHerzegovina.

It combines a number o natural beauties: mountain peaksKapele on the South, wooded hillsides o Petrova andŽumberak hills in the South-East and North; the central greenkarst plateau o Kordun, through which our rivers (Kupa,Korana, Mrežnica and Dobra) fow and the ruitul valley o Pokup in the North-East. This part of Croatia is known for its

well-preserved and untouched nature.

The County has rich historical heritage, rom prehistoric

ruins o Japoda and Kolapijan tribes, ancient Roman remains,

Croatian medieval ortresses (Dubovac near Karlovac, Ogulin,

Modrus, Slunj, Cetingrad, Ozalj, Novigrad...), to monasteries

and churches, roads and bridges.

The most important industrial branches are processing

industry, retail and construction. Within processing industry,

the most represented sectors are ood and beveragesproduction, metal processing, equipment and machinery

production, the production o rubber and plastic, textile and

wood industry.

Higher education is provided at the Karlovac University

o Applied Sciences which consists o six departments:

Mechanical Engineering, Textile Technology, Food

Technology, Gamekeeping and Environmental Protection,

Saety and Protection Department and Business Department.

Agency or Investment and Competitiveness (AIK), www.aik-invest.hr, e-mail: [email protected]. Damir Novinić, Managing Director, e-mail: [email protected] or State Property Management (AUDIO), www.audio.hr, e-mail: [email protected] Bjelolasica Ltd., www.bjelolasica.hr, e-mail: [email protected]

BJELOLASICA TOURIST VILLAGE

Eight pavilios, of which HOC Bjelolasica Ltd. owns ve: Kula,Klek and Lasice (100% owned) and Dobra and Vrelo (majorityowned). The total accommodation capacity includes 10rooms. In addition to other rooms, Vrelo pavilion contains tenrooms adjusted for disabled persons, while Lasica pavilionhas a children’s didactic-sports workshop.

Cetral builig, destroyed in a re in 011.

JASTREB HOTEL (***)

The Jastreb Hotel has 4 rooms, a restaurant with 90 seats,an aperiti bar with 0 seats and a summer terrace. Sportsacilities include a ski-lit and a slope which has not been inuse or several years.

SABLJACI RESTAURAnTThe restaurant has a capacity o 50 indoor and 150 outdoor seats,its own parking space, as well as sand volleyball playground.







Hotel Medena P.,Seget Donji

transactIon

coMPany

The Republic o Croatia through the Agency or StateProperty Management (AUDIO) has the goal to nishthe privatisation process o its tourism portolio (hotelcompanies owned and partially owned by the Republic o Croatia).

PRIVATISATIOn MOdEL

The company Hotel Medena Plc. is currently undergoinga pre-bankruptcy settlement procedure, which, according

to the Act on Financial Operations and Pre-bankruptcySettlement Procedure (OG 108/1; 144/1), allowsa takeover o the Company through a proposal o arestructuring plan.In case o interest, the potential partners are invited tocontact the management o the Company with whomthey should submit the plan o nancial and operationalrestructuring, which will be the subject o creditors’approval.

Hotel Medena Plc. is a joint-stock company registered in1995 and specialised in accommodation and hospitalityservices oered in its two main buildings and twoseparate pavilions. The Company is well-positioned on theinternational markets. The majority o arrivals in last threeyears (around 70%) originated rom oreign markets.

In addition to the great waterront position and superiorsea view rom most o the rooms, the advantage o theMedena Hotel is its accessibility: it is located only 7 kmrom Split International Airport and 15 km rom Zagreb-Split Highway. The Hotel is in the near vicinity o the oldtowns o Trogir and Split, and several marinas: ACI Trogir,

ACI Split, Agana and Frapa (total number o 1,79 berths).

The Company has great potential or urther development;its excellent easy-to-reach location and existing conerenceacilities allow development in the M.I.C.E. segment.Moreover, there are sports elds that can be used toextend the Hotel’s oer to recreational and sports groups.

Shares on sale: 211,316 53.66% of share capital

Average price on stock market: 6.93 EUR 23.4.2013

Year 2010 2011 2012


Operating expenses 4,890,780 5,051,957 5,469,84

EBIT (505,81) (5,019) (980,090)

EBITDA ,64 (4,677) (491,158)

Net income (806,114) (654,557) (1,189,792)

Total assets 9,07,676 8,14,576 6,76,506

Total liabilities 14,49,768 14,69, 14,5,97



sale







27

Company name:

Address:

Website:

Hotel Medena Plc.21 218 Seget Donjiwww.hotelmedena.hr


contacts


HOTELS:Medena Hotel (**): 9 levels, 9,707 m2, consisting o twobuildings (A and B), built in 1971 and partially renovatedin 00. The Hotel has 619 rooms o dierent standards:deluxe (6 rooms and 8 apartments), superior (48 rooms),standard (64 rooms) and tourist class (71 rooms). Deluxeand superior rooms meet requirements or higher qualitycategorisation.

PAVILIOnS:Two pavilions (**): 100 accommodation units.

COnVEnTIOn CEnTRE:A conerence hall with 50 seats.

SPORTS And RECREATIOnAL FACILITIES:Running paths, table tennis, mini-gol, 6 tennis courts,multipurpose sports elds or ootball, volleyball, basketballand beach volleyball.

AREA:Total acility area: 9,707 m2,Net land area: 105,206 m2.


Mr. Damir Novinić, Managing Director, e-mail: [email protected]


Hotel Medena Plc., www.hotelmedena.hr, e-mail: [email protected]



















or opening.







tourism.







Zagreb

HotelI Maestral P.,Dubrovnik

transactIon

coMPany

The Republic o Croatia through the Agency or State

Property Management (AUDIO) has the goal to nishthe privatisation process o its tourism portolio (hotelcompanies owned and partially owned by the Republico Croatia).

PRIVATISATIOn MOdEL: public tender, which includes twosteps:

STEP 1 – stating the interest to invest in a ormal letter o

intent to buy shares, submitted to AUDIO, Ministry o Tourismand the Agency or Investments and Competitiveness.

STEP 2 – bid invitation will be sent to companies/individualsthat have expressed interest in buying shares.

Hoteli Maestral Plc. is a hotel company in Dubrovnik that

owns and operates ve hotels with a unique location along

one street in Lapad Bay. The facilities have an excellentwaterront position (or in its vicinity) and are easy to reach

rom the Old Town o Dubrovnik (.5 km) and Dubrovnik

International Airport (4 km).

The hotels were built between 195 and 1965 and all o

them were renovated during the 1990s and 000s. The

best accommodation is oered in the our star Uvala Hotel

(renovated in 00 and 004), known or its ashionably

designed and spacious Wellness & SPA centre o 580 m2.

The three most important source markets are Great Britain,

France and Russia with 40% o total overnight stays, ollowed

by Spain and Germany. There is a tendency o constant

growth o guests rom overseas markets (the USA, Canada,

Australia and New Zealand).


Year 2010 2011 2012



EBIT (40,110) 1,40 70,75

EBITDA 69,71 819,86 1,9,050

Net income (1,095,833) (550,362) (292,719)Total assets 1,094,00 9,15,516 7,71,907











29

Company name:

Address:

Website:

Hoteli Maestral Plc.20 000 Dubrovnik, Ćira Carića 3www.dubrovnikhotels.travel

dubroVnIK-neretVa county InforMatIon

PrIVatIsatIon Procedure

contacts


Agency or Investments and Competitiveness (AIK), www.aik-invest.hr, e-mail: [email protected]. Damir Novinić, Managing Director, e-mail: [email protected] or State Property Management (AUDIO), www.audio.hr, e-mail: [email protected]

Ministry o Tourism, www.mint.hr; e-mail: [email protected]

HOTELS:

Uvala Hotel (****): 4 levels, 51 accommodation units,size 4,941 m2, built in 1967, renovated 00/004, allowed

construction density (KIG) 0.6, allowed construction

eciency (KIS) 1.06,Splei Hotel (***): levels, 59 accommodation units,

size ,7 m2, built 195 and 1964, renovated in 1997, KIG

0.1, KIS 0.7,Komoor Hotel (***): 4 levels, 6 accommodation units,

size ,489 m2, built in 198, renovated in 1998, KIG 0.69,

KIS 1.97,Vis Hotel (***): levels, 151 accommodation units, size

5,818 m2, constructed in 195, 1956 and 1986, partlyreconstructed in 00-005, KIG 0., KIS 0.90,Ariatic Hotel (**): levels, 158 accommodation units,

size ,45 m2, constructed in 196, 196 and 1967, KIG

0.7, KIS 1.01.

BUSInESS CEnTRE:

Uvala Hotel has two meetings rooms: The Solad MeetingRoom and The Perpera Meeting Room with 80 seats.

SPORTS And RECREATIOn FACILITIES:

Various entertainment and sports facilities, including indoor

and outdoor swimming pools, tness club, tennis courts,snack bars and beach restaurants.

AREA:Total acility area: ,75 m2,Net land area: 100,885 m2.

After submitting a formal letter of intent, receiving a bid invitation and signing the NDA, the potential investor couldparticipate in due diligence procedure. Upon bid submission the best bidder will be selected based on tender criteria.




Average gross salary: 994 EUR



The main characteristic o the County’s economy is thepredominance o tertiary services with tourism andhospitality industries and maritime shipping as mainactivities. The region also has signicant agriculturalpotentials in the area of the Neretva River Delta Valley andin the Pelješac Peninsula known or the active production o high quality wines.

The County is very well connected by Dubrovnik International Airport, close proximity to the modern A1 Split-Zagreb Highway, the deep sea port o Dubrovnik suitable or

cruisers as well as an important cargo port Ploče (gateway o

the future Pan-European transportation corridor Vc).

Dubrovnik’s famous medieval old town (listed on UNESCO’s

world heritage list since 1979) along with the island o

Korčula has positioned Dubrovnik and the County as a high-

end European and global tourist destination (New York Times

shortlisted Dubrovnik among 45 places to visit in 01).

Tourism is constantly developing as a strategic industry or

the County, through investments in new and existing hotels,

sports and inrastructure capacities (14 ve-star hotels and

17 our-star hotels, two gol resorts planned within 5 km, a

new investment in ACI Marina Slano).

The potential or high-end tourism has already been

identied by international hotel chains (Hilton, Radisson

Blue, Rixos, Uzel Holding, Adriatic Luxury Hotels and Luksic

Group) present in Dubrovnik.

The educational inrastructure relevant to the sector includes

high schools or hospitality and catering, and two universities

with excellent programs related to tourism (ACMT-RIT New

York and Dubrovnik University).







Zagreb

HotelI MaKarsKa P.,Makarska

transactIon

coMPany


Management (AUDIO) has the goal to nish the privatisationprocess o its tourism portolio (hotel companies owned and

partially-owned by the Republic o Croatia).

PRIVATISATIOn MOdEL: public tender, which includes two

steps:



STEP 2 – bid invitation will be sent to companies/individuals

that have expressed interest in buying shares.

Hoteli Makarska Plc. is a tourist-hospitality company,established in 195, oering accommodation and hospitality

services in its three hotels near the beach. The Companyis located in the renowned tourist destination MakarskaRiviera (in Central Dalmatia). With a diversied tourist oerthe Company has established a prominent position oninternational markets (approximately 90% o guests are romabroad).In addition to the existing oer, there is great potentialto develop the Rivijera Hotel into a modern sports andrecreation complex. The Rivijera complex already includesthe largest tennis centre in Makarska that has occasionallyhosted international tennis tournaments. The Meteor Hotelhas several convention acilities, which can improve itsposition in the M.I.C.E. segment with appropriate marketingeorts.The location provides endless possibilities or active holidays(hiking/walking and cycling paths on Biokovo mountain);cultural and heritage sightseeing, catholic pilgrimagetourism (Medjugorje, Vepric), and is easily accessible(Zagreb-Split Highway, Split International Airport). There areseveral marinas in the wider Makarska area, as well as a smallharbour in ront o the Company’s Dalmacija Hotel.


Year 2010 2011 2012



EBIT 455,16 74,40 1,116,51

EBITDA 1,55,6 1,815,89 ,189,170

Net income 25,886 326,850 777,320Total assets 4,70,471 ,40,198 ,14,061











31

Company name:

Address:

Website:

Hoteli Makarska Plc.21 300 Makarska, Šetalište dr. F. Tuđmana 1www.hoteli-makarska.hr/en


PrIVatIsatIon Procedure

contacts


Agency or Investments and Competitiveness (AIK), www.aik-invest.hr, e-mail: [email protected]. Damir Novinić, Managing Director, e-mail: [email protected] or State Property Management (AUDIO), www.audio.hr, e-mail: [email protected] o Tourism, www.mint.hr; e-mail:[email protected]

HOTELS:

Meteor Hotel ****: 11 levels, 77 accommodation units,size ,90.74 m2, built in 198, partly renovated 006-011,dalmacija Hotel ***: 11 levels, 190 accommodation units,size 1,4.16 m, built in 1970, renovated in 004/005.

TOURIST RESORTS/COMPLExES:Rivijera Hotel Comple **: levels, consisting o ninepavilions, 58 accommodation units, size 1,997 m2, built in196, renovated and expanded several times.

COnVEnTIOn CEnTRE:Four conerence halls in the Meteor Hotel.

SPORTS And RECREATIOn FACILITIES:Tennis centre, adjacent to the Rivijera complex, with 8outdoor and indoor tennis courts o total 7,808 m2, twooutdoor swimming pools, a gym and a wellness centre in theMeteor Hotel.

AREA:Total acility area: 5,006.51 m2,Net land area: 95,368 m2.

After submitting a formal letter of intent, receiving a bid invitation and signing the NDA, the potential investor couldparticipate in due diligence procedure. Upon bid submission the best bidder will be selected based on tender criteria.

Population (011): 455,242GDP per capita (010): 8,072 EUR

















or opening.



Medjugorje); rating on the River Cetina in Omiš area, and

hiking, walking and cycling paths on mountains Marjan andBiokovo.




tourism.







HotelI Plat P.,Dubrovnik

transactIon

coMPany



PRIVATISATIOn MOdEL:The company Hoteli Plat Plc. is currently undergoing a pre-bankruptcy settlement procedure, which, according to the



In case o interest, the potential partners are invited to contactthe management o the Company with whom they shouldsubmit the plan o nancial and operational restructuring,which will be the subject o creditors’ approval.

Hoteli Plat Plc. is situated in the small village o Plat,

1 km eastern o the City o Dubrovnik and 6 km romDubrovnik International Airport.

The Company with its total size o 77,698 m2 has exquisite

potential or urther development as an independent and

sel-contained hotel resort. The complex is located on the

coastline with three sandy beaches, surrounded by thick

Mediterranean vegetation. All rooms and apartments

have sea-view balconies.

Built in 1970’s, partly renewed in 000, the Company still

has parts o acilities that are damaged.

The Company hosts mainly tourists rom abroad (over

95% o all guests) with dominant participations o guests

rom France (47.5%), the United Kingdom (5.0%), Bulgaria

(4.8%), Sweden (4.0%) and Germany (.8%).


Year 2010 2011 2012

Operating revenues ,59,846 ,787,8 ,17,


EBIT 96,951 181,50 78,4

EBITDA 79,950 417,507 607,9

Net income (2,028,659) (1,847,706) (1,417,147)

Total assets 5,988,558 5,758,4 5,996,799

Total liabilities ,69,9 5,015,07 6,694,8


sale

Shares on sale: 182,440 92.49% of share capital

Average price on stock market – oliste compay







33

Company name:

Address:

Website:

Hoteli Plat Plc., Dubrovnik20 000 Dubrovnik, Plat bbwww.hoteli-plat.hr


contacts


Agency or Investments and Competitiveness (AIK), www.aik-invest.hr, e-mail: [email protected]. Damir Novinić, Managing Director, e-mail: [email protected] or State Property Management (AUDIO), www.audio.hr, e-mail: [email protected] Plat Plc., www.hoteli-plat.hr, e-mail: [email protected]

The Company has operating and non-operating acilities.

OPERATInG FACILITIES:

Orphee Hotel ***: 5 levels, 85 accommodation units, size,871 m2, built in 1968, renovated in 1999,

Villas: 6 three-star villas, in range o one to ve levels o totalsize 7,817 m2, 151 accommodation units (4 villas renovatedin 00/00).

Aitioal facilities: Tavern, pool bar, aperiti bar, bistro,souvenir shop and hairdresser’s salon.

nOn-OPERATInG FACILITIES:

Ambassaor Hotel: 9 levels , 0 accommodation units, size1,000 m2, built in 197,

To Pavilios: 46 accommodation units, built in the periodrom 196 to 1970,

Sports a recreatio facilities: two outdoor swimmingpools or children (50 m2) and two tennis courts (1,109 m2).

AREA:Total acility area: 6,05 m2,Net land area: 77,698 m2.





Dubrovnik-Neretva County comprises 5 cities and 17

municipalities. The County includes smaller islands coveredin thick Mediterranean vegetation and orests, smallersettlements and agricultural lands (olive groves andvineyards).

The main characteristic o the County’s economy is thepredominance o tertiary services with tourism andhospitality industries and maritime shipping as mainactivities. The region also has signicant agriculturalpotentials in the area of the Neretva River Delta Valley and

in the Pelješac Peninsula known or the active production o high quality wines.





world heritage list since 1979) along with the island o Korčula has positioned Dubrovnik and the County as a high-end European and global tourist destination (New York Times


Tourism is constantly developing as a strategic industry orthe County, through investments in new and existing hotels,sports and inrastructure capacities (14 ve-star hotels and17 our-star hotels, two gol resorts planned within 5 km, a


The potential or high-end tourism has already beenidentied by international hotel chains (Hilton, RadissonBlue, Rixos, Uzel Holding, Adriatic Luxury Hotels and Luksic


The educational inrastructure relevant to the sector includeshigh schools or hospitality and catering, and two universitieswith excellent programs related to tourism (ACMT-RIT New








HotelI Podgora P.,Podgora

transactIon

coMPany


Property Management (AUDIO) has the goal to nishthe privatisation process o its tourism portolio (hotelcompanies owned and partially owned by the Republic o Croatia).

PRIVATISATIOn MOdEL:

The company Hoteli Podgora Plc. is currently undergoinga pre-bankruptcy settlement procedure, which, according


Settlement Procedure (OG 108/1; 144/1), allowsa takeover o the Company through a proposal o arestructuring plan.In case o interest, the potential partners are invited tocontact the management o the Company with whomthey should submit the plan o nancial and operationalrestructuring, which will be the subject o creditors’approval.

Hoteli Podgora Plc. is an accommodation andhospitality company, established in 195, consistingo three hotels, Borak apartments and an auto camp.The Company has a good position on internationalmarkets (more than 95% arrivals and overnights in thelast three years were made rom tourists rom abroad).The acilities have an excellent waterront position andare located on Makarska Riviera, a amous tourist brandin Croatia and in close proximity to several attractivetourist destinations (Split, Medjugorje and islands o Brač and Hvar).

Hoteli Podgora Plc. owns the majority o accommodationcapacities in the town o Podgora and has a concessionor 4 berths in two small marinas in the town. Podgorais a small and quiet town ideal or amily holidays andeasily accessible via Zagreb-Split Highway or SplitInternational Airport. The Company location enablesthe organization o various cultural, sports (hiking,walking and cycling paths on Biokovo Mountain) andsightseeing excursions.

Year 2010 2011 2012

Operating revenues ,9,54 ,57,060 ,67,075


EBIT (914,19) (74,89) (1,07,897)

EBITDA (14,608) 9,54 (9,6)

Net income (1,589,258) (1,268,029) (15,213,686)

Total assets 4,808,95 ,614,587 ,54,4

Total liabilities 19,008,68 19,49,791 ,554,076



Zagreb








35

Company name:

Address:

Website:

Hoteli Podgora Plc.21 327 Podgora, Mrkušića dvori 2www.hotelipodgora.hr


contacts


Agency or Investments and Competitiveness (AIK), www.aik-invest.hr, e-mail: [email protected]. Damir Novinić, Managing Director, e-mail: [email protected]


Hoteli Podgora Plc., www. hotelipodgora.hr, e-mail: [email protected]

HOTELS:

Meitera Hotel ***: levels, 178 accommodation units,size 7,11 m2, built in 1965 and renovated in 1987,

Mierva Hotel **: 8 levels, 175 accommodation units, size1,78 m2, built in 1971, partly renovated in 004,

Pogorka Hotel **: 4 levels, total capacity o 0 units, size1,08 m2 comprised o the main building (hotel), built in198, two pavilions (built in 196/6 and renovated in 1989),and 1 bungalows built in 1981,

Borak Ae ***): 4 levels, 10 accommodation units(apartments), size 86 m2, built in 198 and renovated in1989.

AUTO CAMPS:The Sutikla auto camp with 150 camping places.

SPORTS And RECREATIOn FACILITIES:Sports and recreation centre comprises a tennis centre (ourcourts), boule lanes, as well as small soccer, basketball andvolleyball courts.

AddITIOnAL CAPACITIES:Palme Restaurant.

AREA:Total acility area: 0,7 m2,Net land area: 51,609 m2,Land area available for further construction: 7,000 m2.









The most important economic activity is tourism. There is atotal o 117 hotels ( ve-star and 39 our-star hotels, while









or opening.







tourism.







HotelI ŽIVogošće P.,Živogošće

transactIon

coMPany


Property Management (AUDIO) has the goal to nishthe privatisation process o its tourism portolio (hotel

companies owned and partially owned by the Republic o

Croatia).


The company Hoteli Živogošće Plc is currently undergoing

a pre-bankruptcy settlement procedure, which, according

to the Act on Financial Operations and Pre-bankruptcySettlement Procedure (OG 108/1; 144/1), allows a takeover

o the Company through a proposal o a restructuring plan.

In case o interest, the potential partners are invited to contact

the management o the Company with whom they should

submit the plan o nancial and operational restructuring,

which will be the subject o creditors’ approval.

Hoteli Živogošće Plc. was established in 1975, and itscore businesses are hospitality and accommodationservices oered in its two hotels and an auto camp. Ithas strong business relations with oreign tour operators.Approximately 95% o arrivals in the last three yearsoriginated rom international markets.

The Company’s acilities have excellent waterrontpositions and are located near the City o Makarska, aamous tourist brand in Croatia and in close proximityto several attractive tourist destinations (Split andMedjugorje, islands o Brač and Hvar).

The competitive advantages o Hoteli Živogošće are quietlocations ideal or amily holidays (Živogošće and Igrane),beautiul beaches and easy accessibility (Zagreb-SplitHighway and Split International Airport). There is a greatpotential or organizing cultural, sport and sightseeingexcursions, while the vicinity o Biokovo Mountain oersa number o hiking, walking and cycling paths.

Year 2010 2011 2012

Operating revenues ,558,41 4,064,911 4,86,76

Operating expenses ,687,90 4,658,67 5,0,549

EBIT (19,661) (59,761) (75,786)

EBITDA 560,05 596,5 44,909

Net income (405,041) (589,191) (2,969,893)

Total assets 4,78,714 ,861,579 1,70,674Total liabilities 1,795,016 0,766,704 4,99,60




Zagreb








37

Company name:

Address:

Website:

Hoteli Živogošće Plc.21 329 Živogošće, Porat 136www.hoteli-zivogosce.hr


contacts





Hoteli Živogošće Plc., www.hoteli-zivogosce.hr, e-mail: [email protected]

HOTELS:

nimfa Hotel ***: 10 levels, 88 accommodation units,

consisting o the main building (hotel) and our annexes,

total size 1,971 m2. The hotel is located in Živogošće. It was

built in 1971 and renovated in 00,

Hotel Puta **: 4 levels, 166 accommodation units,

consisting o the hotel building and 14 bungalows with 4

apartments, total size 8,991 m2. The hotel is located in Igrane;

its rst structures were built in 1967 while new buildings

were added in 1984.

AUTO CAMPS:Dole Auto Camp with 500 camping places.

SPORTS And RECREATIOn FACILITIES:Two outdoor swimming pools, tennis courts, table tennis,sport boules court and mini gol.

AREA:Total acility area: 1,96 m2,Net land area: 34,932 m2,Land area available for further construction: 4,000 m2 next tothe Nimfa Hotel (allowed construction density: 0.80, allowed

construction eciency: 0.60).






Split-Dalmatia County encompasses the territory o thehistorical region o Dalmatia, and is easily accessible viaZagreb-Split Highway and Split International Airport.









The present international hotel chains in Split include the LeMeridien Lav and the Hilton Hotel Marjan which is plannedor opening.


heritage sites in Split (Diocletian Palace) and Trogir; catholicpilgrimage destinations (Sinj, Vepric and vicinity to famousMedjugorje); rating on the River Cetina in Omiš area, andhiking, walking and cycling paths on mountains Marjan andBiokovo.

A large number o high schools oer education in thehospitality and catering sector, while the Split Universityprovides undergraduate and graduate programs intourism.







transactIon

coMPany




The company HTP Korčula Plc. is currently undergoing apre-bankruptcy settlement procedure, which, according


Settlement Procedure (OG 108/1; 144/1), allowsa takeover o the Company through a proposal o arestructuring plan. In case o interest, the potential partnersare invited to contact the management o the Companywith whom they should submit the plan o nancial andoperational restructuring, which will be the subject o creditors’ approval.

HTP Korčula Plc. is located on the island o Korčula in the Southo Croatia, in near proximity to Dubrovnik, and is well connectedto the mainland with requent erry lines to Orebić (on thePelješac Peninsula) and the City o Split (direct connectionto A1 Split-Zagreb Highway and Split International Airport).Along with Dubrovnik City, Korčula has a great potential orthe development of high-end tourism in Dubrovnik-Neretva

County.

The Company represents an excellent investmentopportunity as it owns a majority o accommodationcapacities on the island. With a wide range o hospitalityacilities (our hotels and a tourist resort) ranging rom

to 4 stars, the Company has a possibility to create a diversetourist oer. All acilities have excellent waterront locations.Most hotels were built between 1960 and 1970, with onehotel built in 1985, and have been partly renovated up tonow. During 006 and 007 the signicant amount o 6.7 milEUR has been invested into the Marko Polo Hotel in orderto reach the our-star category. In the period rom 009 to011, 89% o overnight stays were made by guests rominternational markets, mostly rom Germany, Great Britainand Eastern and Central European countries.


Year 2010 2011 2012



EBIT (508,00) (174,99) 14,15

EBITDA 4,98 691,61 9,41

Net income (1,649,003) (1,490,080) (1,085,956)

Total assets 9,144,64 7,61,117 7,150,74





HtP Korcula P.,Korcula







39

Company name:

Address:

Website:

HTP Korčula Plc.20 260 Korčula, Šetalište Frana Kršinića 102www.korcula-hotels.com


contacts


Agency or Investments and Competitiveness (AIK), www.aik-invest.hr, e-mail: [email protected]. Damir Novinić, Managing Director, e-mail: [email protected] or State Property Management (AUDIO), www.audio.hr, e-mail: [email protected] Korčula, www.korcula-hotels.com, e-mail: [email protected]

HOTELS:

Marko Polo ****: 4 levels, 10 accommodation units, builtin 197, renovated in 006-007,Libura ***: 4 levels, 109 accommodation units, built in1985,Park **: to levels, 15 accommodation units, built inperiod 1950-1968, partly renovated in 00,Korula **: levels, 0 accommodation units, built in 191,re-constructed in 198.

TOURIST RESORT:

Bo Repos **: 50 accommodation units. The resortcomprises pavilion-like hotels built in the 1960s, early 1970s

and early 1980s. Some o the pavilions were renovated in the1990s.


Four restaurants.

AUTO CAMP:

Kalac Auto Camp with 166 camping places (surace area o approximately 6,500 m2).

SPORT And RECREATIOn FACILITIES:

Outdoor swimming pools, tennis courts, playground or

amateur sports, mini gol.

AREA:

Total acility area: 54,919 m2,

Net land area: 86,268 m2.







The main characteristic o the County’s economy is thepredominance o tertiary services with tourism andhospitality industries and maritime shipping as mainactivities. The region also has signicant agriculturalpotentials in the area of the Neretva River Delta Valley andin the Pelješac Peninsula known or the active production o high quality wines.





world heritage list since 1979) along with the island o

Korčula has positioned Dubrovnik and the County as a high-

end European and global tourist destination (New York Times


Tourism is constantly developing as a strategic industry or

the County, through investments in new and existing hotels,

sports and inrastructure capacities (14 ve-star hotels and

17 our-star hotels, two gol resorts planned within 5 km, a


The potential or high-end tourism has already been

identied by international hotel chains (Hilton, Radisson

Blue, Rixos, Uzel Holding, Adriatic Luxury Hotels and Luksic


The educational inrastructure relevant to the sector includes

high schools or hospitality and catering, and two universities

with excellent programs related to tourism (ACMT-RIT New








transactIon

coMPany



PRIVATISATIOn MOdEL:The company HTP Orebić Plc. is currently undergoing a pre-bankruptcy settlement procedure, which, according to the



In case o interest, the potential partners are invited tocontact the management o the Company with whomthey should submit the plan o nancial and operationalrestructuring, which will be the subject o creditors’approval.

HTP Orebić is a joint-stock company, located in Orebić, thePelješac Peninsula. Pelješac is world-amous or its beautiulnature and vineyards which made it renowned as a winetourism destination. The mistral wind in this region hasbranded Orebić as the top destination or windsurers inCroatia.

The Company’s core business is providing accommodationand hospitality services in its two waterront hotelsand bungalows. It has strong business relations withinternational tour operators (Prodintour, ITS, 1, Fly, Terra,Globtour Bratislava), and its guests are mainly rom France,

Germany, Poland, the Czech Republic and Slovakia. Guestsrom abroad account or 90% o all guests.

Orebić can be easily reached by car (140 km rom the A1Highway) and by erry rom Ploče and Korčula. The nearestinternational airport is in Dubrovnik (approximately 10 kmaway).

Year 2010 2011 2012



EBIT (45,884) (65,71) (99,664)

EBITDA (151,100) (89,85) (15,598)

Net income (779,410) (484,806) (533,720)

Total assets 8,48,44 7,764,869 7,54,676

Total liabilities ,640,158 ,50,811 ,846,7


sale

Shares on sale: 111,918 63.65 % of share capital


HtP orebIć P.,Orebić


Zagreb







41

Company name:

Address:

Website:

HTP Orebić Plc.20 250 Orebić, Obala pomoraca 36www.orebic-htp.hr


contacts





HTP Orebić Plc., www.orebic-htp.hr, e-mail: [email protected]

HOTELS:

Orsa Hotel ***: 5 levels, 97 accommodation units, size4,966.8 m2, built in 1968, renovated several times till 01,Bellevue Hotel **: 5 levels, 54 accommodation units, size,8.98 m2, built in 196, renovated several times till 01,Pavillios A a B **: levels, 4 accommodation unitseach, size 1,758.1 m2, built in 196 and 198,Pavillio C **: 4 levels, 0 accommodation units, size1,401.60 m2, built in 1987,Pavillio d **: 4 levels, 0 accommodation units, size1,11.54 m2, built in 1987.

BUnGALOwS:Bellevue Hotel bugalos **: 4 apartments and 8 roomsin 1 bungalows, o approx. 46.10 m2 per bungalow, built in198, renovated 007.

AddITIOnAL FACILITIES:Rondela Restaurant (6.5 m2), Jadran Pizzeria (1.5 m2),

Pelješki Dvori Restaurant (614.99 m2), Pastry shop (45.49 m2),Trstenica Disco Club (465 m2).

AREA:Total acility area: 14,786.6 m2,Net land area: 53,944.80 m2.






Dubrovnik-Neretva County comprises 5 cities and 17

municipalities. The County includes smaller islands coveredin thick Mediterranean vegetation and orests, smallersettlements and agricultural lands (olive groves andvineyards).


predominance o tertiary services with tourism andhospitality industries and maritime shipping as mainactivities. The region also has signicant agriculturalpotentials in the area of the Neretva River Delta Valley and

in the Pelješac Peninsula known or the active production o high quality wines.


cruisers as well as an important cargo port Ploče (gateway o the future Pan-European transportation corridor Vc).


world heritage list since 1979) along with the island o Korčula has positioned Dubrovnik and the County as a high-end European and global tourist destination (New York Times


Tourism is constantly developing as a strategic industry orthe County, through investments in new and existing hotels,sports and inrastructure capacities (14 ve-star hotels and17 our-star hotels, two gol resorts planned within 5 km, a

new investment in ACI Marina Slano).The potential or high-end tourism has already beenidentied by international hotel chains (Hilton, RadissonBlue, Rixos, Uzel Holding, Adriatic Luxury Hotels and Luksic


The educational inrastructure relevant to the sector includeshigh schools or hospitality and catering, and two universitieswith excellent programs related to tourism (ACMT-RIT New








IMPerIal P.,Rab

transactIon

coMPany Imperial Plc. is the main hotel company on the islando Rab. It has been operating or almost 50 years. The

Company is rmly positioned as the leader in the hotelbusiness on the island. Its diverse real estate portolioenables it to have a broad spectrum o goals or strategicdevelopment. Moreover, the Company has madesignicant investments to upgrade its service and value.

The group is comprised o our hotels, two tourist resorts,two auto camps, as well as several restaurants and smallercatering and other acilities. All units are quite near thebeach and the beautiul Old City o Rab. One o the mostbeautiul beaches in the Adriatic, the “Paradise Beach”is also located nearby. Moreover, the Company’s site

benets rom Rab’s rich horticultural heritage ideallypositioned or health tourism and active holidays.

The guests are predominantly rom abroad (more than90% in the last three years), mostly European countries(Germany, Austria, Slovenia, The Czech Republic, Italy andHungary).

Year 2010 2011 2012



EBIT 1,578,065 1,816,406 1,86,896

EBITDA 4,484,486 4,679,75 5,0,41

Net income 314,058 346,892 793,404

Total assets 65,,18 64,046,80 65,979,5Total liabilities 5,71,79 4,906,448 6,4,05





Management (AUDIO) has the goal to nish the privatisationprocess o its tourism portolio (hotel companies owned and

partially owned by the Republic o Croatia).

PRIVATISATIOn MOdEL: public tender, which includes two

steps:



STEP 2 – bid invitation will be sent to companies/individuals

that have expressed interest in buying shares.








43

Company name:

Address:

Website:

Imperial Plc.51 280 Rab, Jurja Barakovića 2www.imperial.hr

PrIMorje-gorsKI Kotar county InforMatIon

contacts





Average gross salary: 1,008 EUR


Primorje-Gorski Kotar County is situated between Sloveniain the North and the Adriatic in the South. Its geographycomprises woodland mountains, seashore and islands.

Primorje-Gorski Kotar County is the birthplace o Croatiantourism. A holiday choice or Habsburg emperors, it isproud of the towns of Opatija and Lovran that have oeredhigh-end and health tourism or more than a century now.

The County’s education policies mirror its historic tieswith tourism and especially nautical tourism. The Facultyo Tourism and Hospitality Management in Opatija is theonly Croatian university ully dedicated to the educationo specialised tourism workorce. In addition, there are twoinstitutions o secondary education dedicated to tourism orhospitality education.

The County is also especially attractive or nautical tourism.There are 8 marinas with a total o ,99 berths. The Countyis well-connected with continental Croatia as well as theneighboring countries. Rijeka is also a major erry port withregular connections to islands and the south o the Adriatic.There are several airports within a 00 km radius (Pula, Rijeka,Zadar, Zagreb, Split, Trst, Venecija, Ljubljana).

Agency or Investments and Competitiveness (AIK), www.aik-invest.hr, e-mail: [email protected]. Damir Novinić, Managing Director, e-mail: [email protected] or State Property Management (AUDIO), www.audio.hr, e-mail: [email protected] o Tourism, www.mint.hr; e-mail: [email protected]

HOTELS:Gra Hotel Imperial ****: 5 levels, 16 accommodationunits, built in 1914, renovated in 010,Carolia Hotel ****): 5 levels, 14 accommodation units,built in 1971, renovated in 009,Paova Hotel ***): 6 levels, 175 accommodation units, builtin 1986, renovated in 009,Eva Hotel **: 5 levels, 196 accommodation units, built in1978.

VILLAS:

Carolia Villas: 10 villas, 8 accommodation units, built in1971, renovated in 00.

TOURIST RESORTS:Sa Mario: 495 accommodation units, comprised o 5hotels ( to 5 levels) situated on the amous “Paradise Beach“,built in 1967, renovated in period 004-01,Suha Puta; small detached houses and bungalows with88 accommodation units, built 196-1968, renovated 009-01.

AUTO CAMPS: auto camps (AC San Marino and AC Padova III) with a totalo 5,000 available places.

COnVEnTIOn CEnTRE:There are congress acilities in the Padova, Grand Hotel

Imperial and Carolina Hotels. Additionally, there is a newcongress centre in the tourist settlement San Marino with10 seats.

SPORTS And RECREATIOn FACILITIES:19 tennis courts, two wellness centres, sports centres.

AREA:

Total acility area: 98,60 m2,Net land area: 250,735 m2.

PrIVatIsatIon ProcedureAfter submitting a formal letter of intent, receiving a bid invitation and signing the NDA, the potential investor couldparticipate in due diligence procedure. Upon bid submission the best bidder will be selected based on tender criteria.







transactIon

coMPany




The company Modra Špilja Plc. is currently undergoing apre-bankruptcy settlement procedure, which, according


Settlement Procedure (OG 108/1; 144/1), allowsa takeover o the Company through a proposal o arestructuring plan.In case o interest, the potential partners are invited tocontact the management o the Company with whomthey should submit the plan o nancial and operationalrestructuring, which will be the subject o creditors’approval.

Modra Špilja Plc. has been operating in the hotel and

hospitality industry in Komiža or 50 years.

Apart rom the Biševo Hotel, its core accommodation

property, Modra Špilja Plc. also owns a tourist agency and

three restaurants, one o which is on the neighbouring

island o Biševo. Foreign and domestic guests have an

equal share in the guest structure.

It is important to note that the Company has an excellent

position on the island of Vis which has been recognised

as the most popular sailing destination on the Adriatic in

recent years. The island is also renowned or its preserved

natural beauties having been closed to the public or

years because o its status as an army base.

Year 2010 2011 2012



EBIT (196,59) (15,514) (04,888)

EBITDA (67,887) (9,156) (67,56)

Net income (1,083,005) (945,193) (204,888)

Total assets 9,14,956 10,979,08 10,799,771Total liabilities 8,868,55 9,54,45 10,454,15



Average price on stock market: oliste compay

Modra šPIlja P.,Komiža








Company name:

Address:

Website:

Modra špilja Plc.21 485 Komiža, Ribarska 72www.hotel-bisevo.com.hr


contacts


45

Agency or Investments and Competitiveness (AIK), www.aik-invest.hr, e-mail: [email protected]. Damir Novinić, Managing Director, e-mail: [email protected] or State Property Management (AUDIO), www.audio.hr, e-mail: [email protected] špilja Plc., www.hotel-bisevo.com.hr, e-mail: [email protected]

HOTELS:

Biševo Hotel **: 6 levels, 11 accommodation units in threesections (B-old section, B-new section, C section), total size7,189. m2. All rooms have central heating and are equippedwith phones, satellite TV, Internet connection and fridges.

The “B’’ Section was built in 1968 and completely renovatedin 1998. The “newer” section was built in 1980 and the mostrecent renovation was in 008.

OTHER REAL ESTATE: The Komiža Tourist Agency and three restaurants: two onisland of Vis and one on island of Biševo.

AREA:Total acility area: 7,8. m2,Net land area: 15,222 m2,Land area available for further construction: 6,500 m2,allowed construction density: 0.50, allowed constructioneciency 0.0.
















The present international hotel chains in Split include the LeMeridien Lav and the Hilton Hotel Marjan which is planned

or opening.

The County’s tourist potential includes: a rich heritage and

cultural oer, catholic pilgrimage destinations, active and

sports holidays and health tourism. There are UNESCO

heritage sites in Split (Diocletian Palace) and Trogir; catholic

pilgrimage destinations (Sinj, Vepric and vicinity to famous

Medjugorje); rating on the River Cetina in Omiš area, and

hiking, walking and cycling paths on mountains Marjan and

Biokovo.




tourism.







transactIon

coMPany



PRIVATISATIOn MOdEL: The company Vranjica Belvedere Plc. is currently

undergoing a pre-bankruptcy settlement procedure,

which, according to the Act on Financial Operations and

Pre-bankruptcy Settlement Procedure (OG 108/1; 144/1),allows a takeover o the Company through a proposal o arestructuring plan.In case o interest, the potential partners are invited tocontact the management o the Company with whomthey should submit the plan o nancial and operationalrestructuring, which will be the subject o creditors’approval.

Vranjica Belvedere is a joint stock company for hospitalityand tourism, specialised in accommodation and hospitalityservices. The Company’s acilities are solely comprised o 66ully equipped apartments and an auto camp, with a totalo 450 camping places, covering an area o 10 hectares.

Besides accommodation capacities, the Company hasnumerous sports acilities, with a potential to become aleading destination or sports and active holidays.

A km seaside promenade connects the camping siteand apartments with the Medena settlement and the old

shing village o Seget.

Vranjica Belvedere is situated in the middle of Dalmatia, 8km rom Split International Airport and 14 km rom Zagreb– Split Highway. There are several marinas in near proximity:ACI Trogir, ACI Split, Agana and Frapa, with a total o 1,79berths.

Year 2010 2011 2012

Operating revenues 909,64 964,666 989,797

Operating expenses 751,800 779,099 890,781

EBIT 157,84 185,567 99,016

EBITDA 5,17 87,5 14,49

Net income (186,123) (199,994) (449,958)

Total assets ,464,5 ,580,711 ,67,58Total liabilities 4,671,7 5,077,65 5,571,140



Average price on stock market: oliste compay

VranjIca belVedere P.,Seget Vranjica








Company name:

Address:

Website:

Vranjica Belvedere Plc.21 218 Seget Vranjica, Kralja Zvonimira 62www.vranjica-belvedere.hr


contacts


47




Vranjica Belvedere Plc., www.vranjica-belvedere.hr, e-mail: [email protected]

VILLAS:

Villas ***: 4 and 6 levels, 66 accommodation units, ullyequipped, built in 1988.

AUTO CAMPS:

Auto camp ***: the total number o 450 camp units, landarea 10 hectares, built in 198.


Restaurant (capacity 100 seats), pizzeria (80 seats),

beach bar, supermarket

SPORTS And RECREATIOn FACILITIES:Tennis courts, table tennis, mini gol, ootball, handball,basketball and volleyball elds.

AREA:Total acility area: 1,77.77 m2.







historical region o Dalmatia, and is easily accessible viaZagreb-Split Highway and Split International Airport.











or opening.







tourism.







state-oWned PortfolIo INFRASTRUCTUREPROJECTS

Osijek Airport

Port of dubrovik

Port of Ploe

Port of Zaar Gažeica

Rijeka Airport

49



Project descrIPtIon

transactIon structureThe Transaction currently envisages three options and

shall be open to all strategic investors who are adequately

positioned to urther exploit growth potential o the

Company.

• Option one: recapitalization

• Option two: repurchase of existing stockholders

• Option three: concession with the features of the

project publicprivate partership or cocessio

cotract

Concession is dened by the Airports Act. Concession

or the airports is considered concession o public works,

concession o public services. Concession or airport is given

or a maximum term o 40 years.

The most acceptable ay of private capital etry i the

Osijek Airport is through recapitalizatio or cocessio.

Recapitalizatio is the fastest a the cheapest oe, but

sice the airport is of special iterest for the Easterregio e believe the best optio is to give the Osijek

Airport i cocessio.

osIjeK aIrPort l.

Zagreb

The uture concessionaire/strategic partner would beexpected to participate in modernisation o the existing,

construction o new capacities and acquisition o equipment

or its commercial operations. The overall aim o the project is

to strengthen cargo trac in the Osijek - Baranja County and

to oster economic development in the region by improving

the competitiveness o the airport.

DISCLAIMER: Information contained in this document has been provided by Agency for Investments and Competitiveness of the Republic of Croatia. Purpose of this document is to give shor t information about companies and /or posibilities to

potential investors. The proleis for information purposes only. No responsibility or liability is accepted for the information in this document.

DISCLAIMER: Information contained in this document has been provided by Center or Monitoring Business Activities in the Energy Sector and Investments. Purpose o this document is to give shortinformation about companies and/or investment possibilities to potential investors. The prole is for information purposes only. No responsibility or liability is accepted for the information in this document.

Ceter for Moitorig Busiess Activities i the Eergy Sector a Ivestmets, Miramarska 24, 10 000 Zagreb, Croatia

CURREnT CHARACTERISTICS OF THE AIRPORT

• Runway characteristic: length: 2,500 m; width: 45 m

• Orientation: 111/291 (11/29)

• Strength: PCN 70 F/A/W/T

• Types of trac permitted: IFR/VFR

• ATS communication facilities APP 118.800 MHz

• Croatia Control Ltd APP 120.150 MHz TWR 118.800 MHz

• Turnaround: 25– 30 minutes

• Passengers handling: DCS, manual check-in

• Fire ghting category: CAT IV on request up to CAT VII

• No slot coordination

• New parking lot (297 available parking spaces)



51

Company name:

Address:

Website:

Osijek Airport Ltd.31 000 Osijekwww.osijek-airport.hr

InVestMent oPPortunIty

sHort MarKet analysIs

The region served by the Osijek Airport is o agricultural

character, which could infuence on the repositioning o the airport and ocusing primarily on cargo trac. Cargoterminal is located on the area size o 1,500 m² and separatedon three parts: truck disposition, direct access to the apronor trucks and coolers.

Except or cargo and warehouse acilities the Osijek Airporthas a plan to invest in the passenger building, and to

separate domestic and oreign passengers. Departing gate

is the priority to keep the status o an international airportand increase saety o trac, passengers and goods in thenear uture.

Passenger terminal area is 1,500 m²; capacity o 00 – 400pax per hour; easy understanding or passengers; simpleterminal development solutions – expanding or upgrading;possibility or extension based on the volume increase.

A strong increase in number o operations and number o passengers in the period 008 - 011 is closely related tointroduction o new operators on the market. Germanwingssigned a contract and introduced a new route Koln – Osijek – Osijek –Koln. In 009, a new operator came on the Osijek

market, the management has signed a 5 year contract with RyanAir or several new routes, which infuenced on a 40% growth o passenger movement as compared to 008. In 01, Ryan Airhas terminated the existing contract due to the lack o subsidieswhich resulted in a strong decline o passenger movement.

There is a growing trend in trac in recent years. Thenumber o passengers has increased more than seven timesover 4 years (,900 in 007 to ,104 in 011). The number o operations has increased three times in the same period (550in 007 to 1,58 in 011). The main airline operators on theOsijek Airport are Croatia Airlines, Ryanair and Germanwings.Using its strong market position in Osijek – Baranya County,the Company wants to strengthen its position as a maicargo airport i the regio. The Airport has the entire

necessary inrastructure that provides cargo handling, asttrucks out to the apron or the aircrat and all prerequisitesor the rapid cargo aircrat handling. Besides capitalizing itsposition on the domestic market, regional market presentsstrong growth platorm where the Company has alreadyinitiated negotiations with oreign partners. For this reason,the Company has decided to reocus its core activity as acargo carrier and has decided to nd a strategic partner ornew investments.



Ministry o the Sea, Transport and Inrastructure o the Republic o Croatia, Mr. Siniša Hajdaš Dončić, Minister, e-mail: [email protected]

Center for Monitoring Business Activities in the Energy Sector and Investments, Mr. Marko Lončarević, Member of the Board, Investment

Sector, e-mail: [email protected]

contacts

Year number Tos Passegers Cargo t

00 67 ,46 ,1 -

00 70 1,868 ,54 -

004 708 ,607 ,00 56

005 695 17,15 ,4 ,80

006 649 4,69 ,871 515

007 550 ,58 ,766 71

008 774 7,14 14,685 17

009 855 7,960 0,48 188

010 79 6,845 0,84 -

011 1,58 6,956 ,104 -



transactIon structureThe uture concessionaire/strategic partner would be

expected to participate in the investment o the ‘’ne

Passeger Marie, Bus a Cruise Termial” or its

commercial operations and to develop, i deemed necessary,

urther development phases o the port.

The total cocessioaire’s or strategic parter’s

ivestmet is estimate at EUR 40 millio.

The project could be done is several phases, depending on

the investor’s preerences.

The basic task or years 01 and 014 is to nd a partner–

concessioner by international tender procurement who will,

based on long-term concession agreement, develop portsuperstructure and bring new services into the port.

Port of dubroVnIK New Passenger, Marine, Bus and Cruise Terminal Project

The Port area has a unique position in a close vicinity o Dubrovnik suitable or development o various acilities

related to port passenger trac and tourists.

The purpose o a new terminal is to provide services

or embarking and disembarking cruise tourists-

excursionists rom the port o Gruž as well as passengers

in domestic and international coastal and erry transport

with all necessary acilities which provide ast, high-

quality and cost-eective passenger fow.

Since it is the only larger by surace / remaining quality

space and inrastructural-wise relatively well-equipped

space in narrower Dubrovnik area, it is also planned to

develop shopping acilities, catering acilities, sports

and recreational acilities, a multipurpose hall, a three-

level garage with approximately 450 parking spaces and

a parking lot or buses with approximately 50 parking

spaces.

Total gross builig area of the port is separate i

several zoes totallig 10,000 m2.

The essential element in this development concept is the

development o the port acilities.

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Zagreb


potential investors. The proleis for information purposes only. No responsibility or liability is a ccepted for the information in this document.



Project descrIPtIon



Company name:

Address:

Website:

Port of Dubrovnik Authority (PDA)20 000 Dubrovnikwww.portdubrovnik.hr


descrIPtIon of tHe Port of dubroVnIK

53

The priority o the PDA in the upcoming period is to nd a

concessioner or the construction o superstructure objectsand to mutually develop new services and acilities or ships,

passengers and the local community.

Due to the expected increase in passenger and cruise trac

the PDA is looking or a concessionaire/strategic partner to

participate in the construction o new adequate capacities

or modern Port terminals.

Ater the completion o the construction, development and

ull equipment, the nal purpose o the marine terminal

at the port o Gruž is to become the mai passeger,

shoppig a trasport facility in Dubrovnik which will be

able to accommodate approximately 12,000 passegers,

customers, service users etc. per day.

The Port o Dubrovnik is a passenger port with great

dominance o cruise passengers due to tourist attraction o

Dubrovnik and the nearby region.

Tourism and specically sea cruise tourism are one o the

astest growing industries in the world. Dubrovnik is a amous

tourist and cruise destination with a great development

potential.

The Port o Dubrovnik mostly serves as a cruise port o call

receiving in 2012 more than 750,000 cruise passegers,

but has a real opportunity to become a home port or vessels

o certain size.

The Port itsel has many advantages, tourist attraction o the

City o Dubrovnik, the vicinity to tourist attraction, water

depth and an easy approach rom the open sea, a good

shelter rom adverse weather conditions and a geographic

position at the ideal distance to one o the biggest world

cruise “home port” destinations – Venice. In cruise industry

Dubrovnik can oer the port o call with all acilities.



contacts






transactIon structure

The potetial port user ca use the available ifrastructure a superstructure, a buil e facilities accorig to

the cocessio right hich is grate for a term of up to 99 years.

TwO POSSIBLE wAYS OF TRAnSACTIOn:

1. Port of Ploe as the hub port for goos – usage of eistig port capacities a capacities uer evelopmet

2. Cocessio to parters for future ivestmets i the port area.

Port of PloceTransport and Trade Integration Project

Currently the port capacities and port inrastructure are

at the level o 5.5 million tons o various cargo (general,containers, dry bulk cargo, liquid cargo like gasoil, gasoline,vegetable oil),

The port is approaching the completion o developmentprogram with a signicant nancial support o theGovernment o Croatia and the loan o the World Bank into the port inrastructure o sophisticated port terminals(Container terminal and Dry Bulk cargo terminal),

The Port Authority already signed long-term concessionagreements or the operationalization o the existing portcapacities, or the recently constructed Container terminal,the new Dry Bulk Cargo terminal (under development) andfor Liquid cargo (preparation for start of construction) withdened obligations o contracted parties,

Ater the completion o the mentioned developmentprojects, the port capacities will enable the annual porttrac o more than 10 million tons.

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Project descrIPtIon



55

Company name:

Address:

Website:

Port of Ploče Authority (PPA)20 340 Pločewww.port-authority-ploce.hr


The Port o Ploče Authority started with the “Trasport a

Trae Itegratio Project” project aimed at developing

the port o Ploče, whereby its overall development objective

is to improve the capacity, eciency and quality o service

on the whole Corridor Vc.

The port is opened to all investors rom all over the world

who recognize the attractiveness o the port o Ploče

location and its advantages.

It is a port o special international signicance or Croatia;

however, due to its position, it is also o an exceptional

importance or the economy o Bosnia and Herzegovina in

view o the act that more than 80% o the port trac reers

to the oreign trade o Bosnia and Herzegovina.

The geo-strategic location o the port and the act that it is

a seaport o the branch C o the Fith European Transport

Corridor (“Vc’’) enable smooth and ecient transit of goods

to/rom Bosnia and Herzegovina, parts o Serbia, Croatia,

Hungary and Slovakia, as well as the existence o theopportunity o transhipment to/rom Italian ports. The main

gate o the port o Ploče will be connected to the Croatian A1

Zagreb – Split – Ploče Highway and to the uture highway at

the Fifth European Transport Corridor (“Vc’’). The port area

covers more tha 230 hectares, out of hich 50 hectares

are still uevelope a reay for the cocessio.

Almost the whole area has the regime o ree (customs) zonewhere the special incentives and treatment may be applied

especially to “non-EU” goods.

The Port o Ploče is the second largest Croatian port in terms o

annual cargo volumes. The basic precondition or the successul

unctionality o the whole port system is the optimization o

the integration and coordination o all entities and actorswhich directly or indirectly participate in the production o

the port and entire transport service. The port o Ploče is o an

international economic importance or the Republic o Croatia.

By the decision o the Government o the Republic o

Croatia, the port area is managed by the Port o Ploče

Authority as a non-prot institution, the responsibility o

which, in addition to the port basin in Ploče, extends also

to the basin o the Metković river port, which is located

24 km to the North East of Ploče.

The main goal o the Port o Ploče Authority is the

transormation o the port rom a traditional port into

the regional centre o logistics where various distribution

and value added services would be carried out on the

goods which transit the port.

descrIPtIon of tHe Port of Ploce



contactsMinistry o the Sea, Transport and Inrastructure o the Republic o Croatia, Mr. Siniša Hajdaš Dončić, Minister, e-mail: [email protected] for Monitoring Business Activities in the Energy Sector and Investments, Mr. Marko Lončarević, Member of the Board, Investment





The uture concessionaire/strategic partner or investor

would be expected to participate in the investment o

the ‘’New Passenger, Ferry and Cruise Terminal” for its

commercial operations and to develop, i deemed necessary,

urther development phases o the port.

The Transaction currently envisages two options and shall be

open to all strategic investors who are adequately positioned

to urther exploit the growth potential o the Project:

Optio oe: Build to suit under current adopted and

prepared documents by the Port o Zadar Authority or the

Terminal building

Optio to: Construction o a new building according to

operators/investors preerences (preparation o this option

would take at least years)

The most acceptable way o the entry o private capital

in the Port o Zadar is through a concession right with an

obligation to construct the “New passenger, Ferry and Cruise

Terminal’’ Project under current adopted documents.

Port of zadar - gaŽenIca New Terminal Building in Gaženica

Phase oe – LOT I has already been developed

Phase II – LOT II and LOT IIIa are in construction andcurrently 70% o the phase is nished

Phase III – construction o the Passenger, Cruise and FerryTerminal is to be developed by the potential investor.

A two-storey main building with a basement, ground foor,rst foor and small attic,

A one storey technical building (power) with a basementand ground foor,

And a ourteen-storey tower or trac control where aVessel Trac Management System (VTMS) will be installed,

The design includes parking lanes or buses and taxis inront o the entrance to the main building (ground foor),

The design o the terminal building makes provision orthe construction o two skyways in a later phase o theproject. These skyways will connect the rst foor o themain building (arrival - departure halls or internationalpassengers) to the vessels berthing at the internationalterminal (berths at piers # 1 and # ).

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THE PROJECT IS BEInG dOnE In SEVERAL PHASES:

THE TERMInAL BUILdInG SHOULd COMPRISE:





Project descrIPtIon



57

Company name:

Address:

Website:

Port of Zadar Authority (PZA)23 000 Zadarwww.port-authority-zadar.hr


about tHe Port of zadar and current status

The new port will provide an extended berthing capacity

or larger international erries and modern cruise ships and

international standard on-shore acilities or passengers and

vehicles. The project will relocate the erry port o Zadar

rom the historical city harbour to a less constrained site

in the new port o Gaženica. The Priority o the PZA in the

upcoming period is to nd a concessioner or a partner or

the construction o the Terminal and to mutually develop

new services and acilities or ships, passengers and the local

community.

The total concessionaire’s or strategic partner’s investment is

estimated at EUR 5 million.

The basic task or years 01 and 014 is to nd a partner–

concessioner by international tender procurement who will,

based on a long-term concession agreement, develop port

superstructure.

The Project is opened to all port investors rom all over the

world who recognize the attractiveness o the Port o Zadar

location and its advantages. The strategic planning o the

development o the Port o Zadar will contribute to the

increased competitiveness o the Port o Zadar as a uture

EU seaport.

The Port o Zadar serves over . million passengers and

over 1,000 vehicles per year (01), with signicant

variation in density according to seasons. Due to its

position in the Old Town, the port will reach its limit within

the next ve years.

Due to the expected increase in passengers and cruise

trac the PZA is looking or a concessionaire/strategic

partner to participate in the construction o the new

terminal building or local and international errypassengers and or cruise (transit and home port).

The relocation o the erry port o Zadar in the area o

Gaženica (.5 km south o the city o Zadar) is considered

as a high priority project by the Government o Croatia.

This project will allow increasing o trac by providing

additional berths which can accommodate larger erries

and cruisers as well as Ro-Ro vessels.

The new port is directly connected to the new motorway

network (our lanes access road) with a direct and rapid

access to Zadar Airport, Zagreb, the rest o Croatia and

central Europe through road and motorway networks.



contacts







Reconstruction and expansion o the passenger building

–the existing building does not satisy trac growth

projections nor current passenger fow demands at peak

levels. The reconstruction will add approx. 4,600 m2 at

three levels. This will increase the building’s capacity three

times (up to ,000,000 passengers on an annual basis);

Reconstruction and expansion o the aeroplane parking

platorm– the extension o the passenger building includes

an expansion o the existing aeroplane parking platorm;

Construction o storage and manipulation acilities or

management o goods transported via air–inclusion o

the Airport Rijeka in the intermodal goods transport

trac–5,000 m2 taking into consideration the building

criteria;

Addition and reconstruction o the existing aeroplane

taxiway in accordance with international regulation,

current taxiway’s width does not comply with regulationor the corresponding aeroplanes. Moreover, the number

o existing taxiways does not correspond to the predicted

trac capacity. The Project will include expansion o

existing taxiways and construction o a new aeroplane

taxiway.

PROJECT InCLUdES:

The Transaction currently envisages three options and

shall be open to all strategic investors who are adequately

positioned to urther exploit growth potential o the

Company.

• Option one: recapitalization

• Option two: repurchase of existing stockholders

• Option three: (concession with the features of the

project publicprivate partership or cocessio

cotract

Concession is dened by Airports Act. Concession or the

airports is considered concession o public works, concession

or public services. Concession or airport is given or a

maximum term o 40 years.

The most acceptable ay of etry of private capital i

Rijeka Airport is through recapitalizatio or cocessio.

Recapitalizatio is the fastest a cheapest, but airport

is of special iterest for the Croatia meitera coastal

tourist regio.

rIjeKa aIrPort l.Reconstruction, modernization and development of Rijeka Airport





Project descrIPtIon



Company name:

Address:

Website:

Zračna luka Rijeka Ltd.51 513 Omišalj, Hamec 1www.rijeka-airport.hr


current Infrastructure and caPacIty

59

Investment opportunity in case o Rijeka Airport lies in its unique and potentially very lucrative position in Croatia, Adriaticand Europe. Since the fact that Rijeka Airport Ltd. as a state owned Company is located on the area of Primorsko–GoranskaCounty, by investing in it, every uture investor will certainly benet rom strategic connections based on:

• Fast access to Central and Eastern Europe as well as other EU countries,

• Well-developed infrastructure,

• Well-developed business zones network and infrastructure,

• Outstanding service of logistics sector,

• Trained and educated workforce,

• Steady economic environment,

• Well-developed network of small and medium suppliers.

PASSEnGER BUILdInG TERMInAL CAPACITY:

• 1 passenger terminal,• 1,000,000 passengers annually.

RUnwAY AREA:• Length: 2,500 m ICAO CAT 4E• Width: 45 ICAO CAT 4E,• Orientation: 04/32,• Strip dimensions: 2,620 x 150 m,

• Instrument equipment: ICAO CAT I,

• VASIS 3°, IL.

APROn PHYSICAL CHARACTERISTICS:• Dimensions: 300 x 112 m,• Parking places: 14,• General aviation parking,• Strength: PCN 45 F,R/A/X/T,• Surface: ASPH.



contacts






PrIVate Projects

Aristos Hotel

Bako

Bioiesel ProuctioBiogra Health & Tourist Cetre

Biska Golf Resort

Bro

Croatia dream – dubrovik Pearl

Hipersfera

Hortus Croatiae

Imperium Toer

Rimac Automobili

Riviera Pašma

Strategic Pla Bekovac

Strategic Pla Župaja

Sv. Marti Hotel a Resort

Tourist Zoe Rastovaa

welless & Health Cetre ni

61



arIstos Hotel,Zagreb

transactIon

coMPany

Sale of a majority stake in Turopolis Ltd., a company that owns and operates the Aristos Hotel.

The Company owns and operates the our-star

Aristos Hotel with 150 accommodation units o

various types and a number o additional hotel

services.

The Hotel is located in the well-developed

business zone Buzin, in a Zagreb suburb, where

a large number o domestic and international

companies, as well as the US Embassy are

situated. The vicinity o Zagreb International

airport (7 km) and the Hotel’s high categorization

allow its positioning as a high quality business

hotel, specialized in organizing conerences,

seminars and meetings.

The Hotel increased its capacity and services in

009 as a result o an increased demand. Furtherdevelopment o the City o Zagreb as a tourist

destination, a strong growth o tourist arrivals

(rom 01,7 in 005 to 767,66 in 01) and

its recognition on the world destination map,

combined with the increased demand or luxury

hotels, provide a strong growth potential. The

Hotel’s attractiveness is also anticipated to

enhance with the planned construction o a new

terminal at Zagreb Intl. Airport.


Year 2010 2011 2012



EBIT 1,81 (6,68) (90,65)

EBITDA 481, 717,461 679,416

Net income (60,305) (3,570,006) (1,538,612)

Total assets ,09,11 1,796,59 1,177,59

Total liabilities 19,16,167 1,98,658 ,91,610








Company name:

Address:

Website:

Turopolis Ltd.10 010 Zagreb, Buzin, Cebini 33www.hotel-aristos.hr

contact

HOTEL

The Hotel has 150 accommodation units and oers threetypes o rooms (comort, superior and deluxe), threebusiness suites and one deluxe suite. All rooms are urnishedwith real wood details and equipped with satellite TV, air-conditioning, phone, mini bar, saety deposit boxes andhigh-speed Internet connection.

COnFEREnCE FACILITIESSeven multi-unctional conerence halls spread over thetotal area o 908 m2, which can be used or workshops,presentations, meetings, press conerences and similarevents. Congress halls are equipped with sophisticated audio

and video equipment, including LCD projectors, integratedprojection walls, specially designed ergonomic chairs and airconditioning, and have a total capacity o 575 seats.

AddITIOnAL FACILITIESThe additional Hotel oer includes: a oreign exchangeoce, a gift shop, the Lobby bar, the Momento Lobby bar,a summer terrace, the Tiara Restaurant, a ully equippede-business centre, Wellness & Spa centre, a tness studio,laundry services and a hairdressing salon. There are alsooutdoor parking places.




Average gross monthly salary: 1,250 EUR


The City o Zagreb is the capital and the biggest city in thecountry. It is a cultural, scientic, economic, political andadministrative centre with the seat o the Parliament, the

President and the Government o the Republic o Croatia,located at the intersection of European trac corridors (Vband X Pan-Europan highway corridors as well as Va and Xrailway corridors).

According to the results o 011 census, Zagreb has 79,875inhabitants, which represents around 18% o total populationo Croatia. It has dominant economic, nancial and politicalstatus in the Republic o Croatia, and accounts or approx.7% o Croatia’s total exports, 60% o Croatia’s total importsand 5% o total revenues. Almost hal o total FDI in 01

was in Zagreb.

There is a predominance o service activities (especiallywholesale and retail commerce) which participate with8% in the total revenues. However, primary and secondaryactivities are developed as well, primarily processing industry(production o electric machines and devices, chemical,pharmaceutical, textile, ood and drink processing). Thelargest number o enterprises is in trade, ollowed byscientic and technical services.

As a tourist, business and administrative centre, the City o

Zagreb achieved 767,66 guest arrivals, with approx. 1.5million overnight stays, o which 77% were made by oreignvisitors. The hotel sector includes 50 hotels with ,787accommodation units; however, there are only three hotelswith 5-star and 1 hotels with 4-star categorization.

A wide range o education institutions is concentrated inthe City o Zagreb: in addition to the University o Zagrebwith a tradition since 1669, which includes 9 aculties, 4academies, a university centre o Croatian studies and anumber o institutions o higher education, there are 1

private aculties and institutions o higher education.

63

Turopolis Ltd., www.hotel-aristos.hr, e-mail: [email protected]


cIty of zagreb







Project descrIPtIon

tecHnologIcal adVanceMent

banKo l.SME: Engineering, Machining

The Banko vane machine essentially represents a new way o

greatly improving the perormance o vane machines in any

product application based on vane machines. Furthermore,

the likely cost o the Banko vane machine is no greater than

existing units available on the market.

Coupled with its greatly improved eciency it will lead to a

quick payback period or companies that choose to either

gradually replace their stock o existing machines and/or

add new product lines. The Banko vane machine will allowcompanies owning and operating these units to increase

their bottom line. It is important to note that the improved

perormance rom the Banko vane machine may be applied

in all vane machine applications including: pneumatic

tools, compressors, expanders or hydrogen uel cells,

pumps (especially vacuum pumps), starters or large diesel

engines, and compressors or air pre compression in internal

combustion engines (i.e. superchargers). Banko is seeking

to nd partner who is willing to invest via joint venture indevelopment and manuacturing o other applications o the

vane machine.

Vane machine technology has been unchanged and

unimproved or more than hal a century. The volumetricand mechanical losses currently experienced by classic

vane machines have largely been overcome. This has been

achieved via introducing the concept o both stationary and

rotating cylinder parts enabling improved charging and

discharging o the working media and reduced wear o the

radial vane suraces, rotating lateral parts which rotate jointly

with rotor improved mechanical eciency, and reduced

wear on the lateral side o the vanes, improved sealing

resulting in reduced maintenance requirements, improvedreliability and lietime perormance. The combined eects o

the technical improvements have resulted in a dramatically

improved power eciency o the Banko vane machine

conservatively recorded at ~ 0% to 50% (with optimal results

in the ~ 80% to 100% range) compared to other machines o

similar size. These impressive results have been conrmed

via testing on a Swiss made eddy current dynamometer

Magtrol WB65 machine and by customers on the market.

All products are built and produced in accordance with

the ISO 9001:008, machinery directive and highest saety

requirements to ulll EC declaration o conormity and allexisting standards or the pneumatic grinder line.

HAMAG InVEST Croatia Agecy for SMEs a Ivestmets, Prilaz Gj. deželića, 10 000 Zagreb, CroatiaDISCLAIMER: Information contained in this document has been provided by HAMAG INVEST - Croatian Agency for SMEs and Investments. Purpose of this document is to give shor t information about

companies and/or investment possibilitie for potential investors. This prole is for information purposes only. No responsibility or liability is accepted for the information in this document.



Agency name:

Address:

Website:

HAMAG INVEST10 000 Zagreb, Prilaz Gj. Deželića 7www.investcroatia.hr

banKo PneuMatIc grInder

enVIronMentally frIendly

The lubricant/oil ree nature o the Banko vane machine has

increased environmental acceptability as there are ewer

pollutants emitted by the Banko vane machine installed in

air compressors. Furthermore, there will be quite possibly

an indirect contribution to a reduction in carbon emissions

(insoar as electrical energy is powered by ossil uels) as less

electrical energy is required to power these units or the

same work output. As an indication o the reduced amount

o electricity this new vane machine requires, i every air

compressor in use today employed a Banko vane machine,

global consumption o electrical power would be reduced

by 1% to 1.5% (~ TWh)

65

The Banko vane machine is used very successully in one o Banko’s

current products, the pneumatic grinder. The Banko pneumatic grinderwith vastly superior perormance to its competitors is Banko’s “fagship”product and is produced at its manuacturing acility in the city o Split,Croatia.

InnoVatIVe leader In Industry The Banko vane machine supersedes current rotary vane

technology making all current vane machine technologyincreasingly obsolete. In addition, the Banko vane machine

in air compressors outperorms alternative technologies

which include reciprocating piston, rotary screw, rotating

centriugal etc. With the rights to these patents, the

manuacturer o air compressors or pneumatic tools can

greatly improve the product and gain market share at

the expense o competitors. The Banko vane machine’s

potential was recognized by the Government o Croatia’swholly owned business innovation development

company, BICRO Ltd (the Business Innovation Center

o Croatia). Following a competitive process, BICRO

Ltd awarded start-up funding to Banko in project

development. This new technology with several product

applications is protected by patents.

Banko pneumatic grinder provides 60-100 % aster grinding atthe right speed with high-speed material removal which improvesproduction rates and allows new levels o productivity.

Banko pneumatic grinder provides 100% total lietime work with lowmaintenance costs.

Banko pneumatic grinder provides much less insensitivity to

variation o the pressure in the air hose.Banko pneumatic grinder provides grinding with much less vibrationdue to grinding o the accessories at the right speed.

Banko pneumatic grinder provides oil-less production which enablesclean surace and more environmentally riendly operation.

Banko pneumatic grinder is ergonomically shaped or less operatoratigue and easy control.

Banko pneumatic grinder oers a competitive price with high energyeciency.

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HAMAG InVEST Croatia Agecy for SMEs a Ivestmets, Prilaz Gj. deželića, 10 000 Zagreb, CroatiaDISCLAIMER: Information contained in this document has been provided by HAMAG INVEST - Croatian Agency for SMEs and Investments. Purpose of this document is to give shor t information about

companies and/or investment possibilitie for potential investors. This prole is for information purposes only. No responsibility or liability is accepted for the information in this document.

contactHAMAG INVEST-Croatian Agency for SMEs and Investments, www.investcroatia.hr, e-mail: [email protected]. Nikola Dulčić, Head of Investment Sector, e-mail: [email protected]



bIodIesel ProductIon

Project descrIPtIon The project involves the construction o a production plant / acility

or the production o biodiesel in the north o Croatia. The capacityo this acility will be approximately 0,000 MT per year. Equipment

has been designed to produce biodiesel well within EN 14214

specication. The plant is able to use wide spectrum o eedstock

(crude rapeseed oil, palm oil, soya oil, jatropha oil, used cooking oil

etc.), since oil pre-treatment is possible. Also, glycerol purication

system has been designed to puriy glycerol up to 85% minimum.

So ar, approximately .9 million EUR has been invested in this

project and the project holder has nished the ollowing:

• required modications in industrial hall• 50% of construction works in storage hall

• 40% of the equipment is on location, 40% in customs

warehouse, 0% is ready or delivery.

Overall project was designed and specied by experts in designing

biodiesel acilities. PBG d.o.o. is the owner o the overall technology.

Along with production acility, the plant will also have additional,

fexible storage capacity:

• 400 m3 or eedstock

• 300 m3 or biodiesel

• 100 m3 or glycerol

This plant will have three stages o operation:

1. Degumming and neutralization o oil

. Transesterication

. Glycerol purication

KPMG was hired to provide new business plan which was done in

February 01 and is available or interested parties.



Year 2012 2013 2014

Sales prot 51,985 171,178 0,177

Cost o raw material (9,0) (18,54) (165,14)

EBIT 6,68 9,65 9,50

EBITDA 9,197 ,00 44,1

Gross prot I 1,954 4,654 54,864


estIMated ValueThe total value o the project amounts to 5.9 million EUR. The project holder is looking or additional investment o

approximately million EUR in order to nish the project.

KPMG analysis (HRK ‘000):

DISCLAIMER: Information contained in this document has been provided by Croatian Chamber of Economy. Purpose of this document is to give short information about companiesand/or investment possibilities to potential investors. The prole is for information purposes only. No responsibility or liability is accepted for the information in this document.

Croatia Chamber of Ecoomy, Rooseveltov trg 2, 10 000 Zagreb, Croatia



Company name:

Address:

Proizvodnja biogoriva Ltd.42000 Varaždin, Cehovska 46

transactIon Model

VaraŽdIn county InforMatIon

contacts

Project status

67DISCLAIMER: Information contained in this document has been provided by Agency for Investments and Competitiveness of the Republic of Croatia. Purpose of this document is to give shor t information about companies and /or posibilities to


Croatian Chamber o Economy, Investment Promotion Centre; www.hgk.hr, e-mail: [email protected]

Mrs. Silva Stipić Kobali, Managing Director, e-mail: [email protected]

Proizvodnja biogoriva d.o.o., Mr. Ivica Šprem, e-mail: [email protected]

The overall project can be nished within months since

most o the equipment is on site or nished and waiting ordelivery. The project has all the necessary documentation

or its implementation:

• Clean Title Property;

• Feasibility study;

• Environmental Impact Assessment Study;

• Technical documentation;

• Building permit.

The project holder is looking or investor.




Varaždin County is located in Northwest Croatia and

represents the central transportation corridor that connects

the Central Danube to the Adriatic. It is at the heart o the

Zagorje Route, which traditionally has linked Northwest

Croatia to Slovenia and Hungary.

The County’s economy is based on agriculture, manuacturing

and processing industries with milk production, meatpacking,

beverage production, textile and leather production, and

metal processing being the strongest sectors. The Countyhas a well-developed ICT sector with over 10 dierent ICT

companies. The Tech Park Varaždin houses 25 ICT, marketing

and R&D companies. There is one ree zone, as well as a

number o business and SME zones.

The County has recently introduced a number o

measurements and activities in order to stimulate

investments and economy. Adoption of City of Varaždin

development strategy, improvement o a business climate,

building o necessary inrastructure and encouraging thedevelopment o new technologies resulted in recognition o

Varaždin County as a highly desirable investment destination.





bIograd HealtH and tourIst center,Biograd na Moru

Project descrIPtIon

Biograd Health and Tourist Centre is a project held by Zadar

County, whose goal is a development o medical tourism

oer within the Special Orthopedic Hospital in Biograd na

Moru. It involves creating a new health and tourist center

next to the existing hospital building.

In addition to the construction o new accommodation

capacities and medical service acilities needed or various

health treatments and therapies, the Project includes

wellness and recreational area with indoor and outdooramenities.

current status

transactIon Model

locatIon

The designated location is adjacent to the Special

Orthopedic Hospital in northern part o Biograd na Moru,

easily accessible rom Adriatic Tourist Road (Jadranska

turistička cesta). Zadar International Airport is 8 km, while

the Zagreb-Split Highway is km away.

The Town o Biograd na Moru is surrounded by national

parks (Kornati Islands, Velebit, Paklenica, The Krka

Waterfalls, Plitvice Lakes) and nature parks (Telašćica

on Dugi Otok and the Vrana Lake). It is a well-known

tourist and nautical center in the midpoint o the Adriatic

coast, with over a century-long tourist tradition. It oers

a wide variety o sports and recreational capacities,

several marines and rich gastronomic oer in numerous

restaurants along the coast. In addition to its cultural

heritage and vicinity to the historical cities o Zadar,

Šibenik and Nin, Biograd na Moru is considered as a

destination or an interesting and dynamic vacation.

estIMated ValueEstimated value: 5 mil EUR

In accordance with the urban development plan, the area o 4,000 m2, owned by the Project holder, is oreseen or the

construction o health and tourist acilities.

The preparation o the project documentation is currently in process. The pre-study o development o health tourism has

already been made by Zadar County Development Agency.

Several possibilities are oered to the potential investors, including construction/concession, public-private partnership and

other contract arrangements.







Address:

Biograd Health and Tourist Center23 210 Biograd na Moru

zadar county InforMatIon

contacts

Planned facIlItIes

69

Croatian Chamber o Economy, Investment Promotion Centre, www.hgk.hr, e-mail: [email protected]


Zadar County Development Agency – ZADRA, www.zadra.hr, e-mail: [email protected]

FACILITY SIZE:

• Gross oor area: 6,000 m2

• Ground oor size: 6,000 m2

• Number of levels: 6

• Total land area: 43,000 m2

• Allowed construction density: 0.3

• Allowed construction eciency: 1.5










Zadar County is situated in northern Dalmatia in Croatia.

The County’s total area is 7,486.91 m2 o both sea and land.

It is well connected via road, sea and air, i.e. Zagreb-Split

Highway, good erry connections with Italy and the rest o

Croatia and an international airport. The shortest maritime

connections to central Italy pass through the Port o Zadar.

Equally important is Zadar Airport which is a popular tourist

entry point with a 0% growth o the number o passengers

in 011-01.

The County’s economy is primarily based on crats, industry,

tourism, trac, especially maritime trac and agriculture.

Crats and industry are at the economic core o the County

although services have shown the most signicant growth

in recent years. The County’s education policies mirror its

abundant ties with tourism and maritime sector. There are

institutions o secondary and university education with

programs in hospitality, culture, tourism and nautical trac.

With tourism gaining a more prominent role in the County’s

economic structure, there is an emphasis on extending local

accommodation capacities. They amount to 76,500 beds,

most o which (7%) are private accommodation. Hal o

the capacities in hotels and camps are classied as a 4-star

category. There are also 6 marinas with a total o 1,818

berths. As a successul tourist region in Dalmatia, Zadar

County recorded 6,770,05 overnight stays in 01. Most o

these (88%) were by oreign guests.

The centrepiece o the rich tourist oer in the County is

its capital – the City o Zadar which is a ocal point to the

archipelago o more than a hundred islands. Most o these

are uninhabited and contain highly preserved sceneries

and attractive costal zones. These areas are oreseen or

urther development and enrichment o the tourist oer o

the County. The county is conveniently located near some

o the most attractive Dalmatian sights, including national

parks Kornati and Krka and a amous extreme sports

location Paklenica. The County’s tourism potential has been

recognized internationally with brands such as Falkensteiner

present in the County, while serious investments in Zadar

County’s marinas have been made by renowned Dogus

Group.

Project name:



bIsKa golf resort,Buje

Project descrIPtIon

PotentIal transactIon structure

Project status

Located on the North-West of Istria, the largest peninsula

in Croatia, between the towns Umag and Novigrad,

the project envisages a construction o a proessional

standard 18-hole gol course along with accompanying

acilities on over 76 hectares o coastal woodland.

The gol course, designed by the leading British gol

design team European Gol Design, should spread over 59

hectares. The residual land is envisaged or a construction

o 80 luxury villas, a club house and our articial lakes.

While the club house is planned to be built on three

foors (club room, restaurant and bar, wellness centre,

gym, conerence hall, pro-shop), the 80 villas whose

construction is planned in two phases should cover an

area o over 8.5 hectares o land. The size o the villas

is oreseen in a range rom 50 up to 1,050 m2 gross

(constructed as individual villas and villas divided into two

and three independent units).

The sale subject is equity stake in the limited liability company Gol Istra Magica (GIM) which owns the project land area.

The project is in a high stage o readiness as all major planning

permits and additional documentation necessary or the

project ullment have been obtained. These include Physical

Plan o Istria County, Physical Plan or the Development o

Brtonigla Municipality and Urban Development Plans or the

areas o Fratarska Šuma Gol Course and Mala Punta.

Master Plan (European Gol Design), Environmental Impact

Study and Final Location Permit for Fratarska Šuma Golf

Course and accompanying acilities (commercial and

residential zones, gol course, club house…) have been

completed and/or obtained.

According to the statement o the Investor, the current status

o permits and documentation allow the completion o the

Project by the spring/summer 015.







Company name:

Address:

Golf - Istra Magica Ltd.52 460 Buje, Gospodarska ulica 14

contact

IstrIa county InforMatIonPopulation (011): 208,440



Average gross salary in the sector (tourism): 1,142 EUR

Istria County is located on the largest Croatian peninsula

o Istria, on an area o ,80 m2 and has excellent transport

connections with main European motorways (Istrian “Y”

motorway connects Istria with highways in Slovenia, Italy

and Austria) and by air (International Airport in Pula).

Istria is one o the most developed Croatian regions with

dominant industry (shipbuilding, production o building

materials, tobacco products, urniture, glass and electrical

machinery and parts or the automotive industry), tourism

(1.6% o all arrivals and 5.% o all overnight stays in

Croatia in 011) and trade sector. In recent years, a great

attention was paid to the revitalization o agriculture

(especially olive growing and organic ood production)

and the related development o enogastronomic tourism

(autochthonous wines Malvasia, Teran, highly esteemed

white true) and agro-tourism, particularly in the

hinterland o Istria, which is recognized as the “Tuscany o

Croatia”.

There is a very long tradition o tourism that has been

developing rom the period o the Roman Empire through

the Austro-Hungarian Empire (when tourist centres Umag,

Poreč, Rovinj, Pula, Rabac, including the Brijuni Islands

were strongly developed). In the past decade, intensive

investments (760 million EUR) in a construction o new

and reconstruction o existing, primarily high-class hotelacilities were made resulting in a signicant increase o

ve-star hotels (total o 4) and our-star hotels (total o 6).

In the structure o accommodation, rom a total o 50,00

units, camps are the most represented (44.4%), ollowed

by private accommodation (.6%), apartments and rural

tourism (1.8%), hotels (11.%) and accommodation in the

marinas (6.7%). Main markets in terms o overnight stays

are Germany (8.7%), Slovenia (14.%), Austria (11.0%) and

Italy (10.6%).

Strong domestic brands (Istraturist Umag, Maistra and

Valamar) prevail but international brands such as the

Kempinski Hotel and Sol Melia are present as well, primarily

as management companies.

The wide and diversied range o acilities enables the

development o various kinds o tourism: sports tourism

(currently out o 4 gol courses in Croatia are in Istria

- Umag and Brijuni, the construction o a third gol

project Marlera has commenced, and the International

ATP tournament holds place in Umag), cultural tourism

(Motovun Film Festival, perormances by world-renowned

artists in Vespasian’s Roman amphitheatre-Pula Arena,

Theatre Ulysses), nautical, convention, hunting, shing,

and diving tourism.

Further development o tourism in this region will beensured with new projects, notably the Brijuni Riviera

which is to be developed on three locations (Pineta,

Hidrobaza and Sv. Katarina i Monumenti on total land area

o 114 ha), and should additionally prole the County as a

tourist destination with a wide range o capacities o the

highest category.

71

Golf – Istra Magica Ltd., Contact person: Mr. Zvonko Anderluh, e-mail: [email protected]







brod l.

Project descrIPtIon The project involves exploitation and industrial processing

o carbonate raw material and technical constructivestone on the eld Mlada Vodica, located in Podcrkavlje

municipality in Brod-Posavina County.

The exploitation area that was given in concession extends

to 18. ha, and it is located on the southern slopes o Dilj

hill. The estimated reserves o high value calcite and purity

(97% CaCO) on that area amount to 5,800,000 tonnes;

together 1,158,58 m3 o technical constructive stone.

The rst phase involves exploitation o technical

constructive stone and processing o a raw material or

calcication o soil. This phase demands investments in

machinery equipment or digging, grinding and separation

o raw material and represents considerably smaller

investment than those needed or industrial production.

Calcium carbonate has wide range o usage, or instance

in production o paper, plastic, agriculture, ruit growing,

orestry, pharmacy, chemical industry as well as in

construction industry as lime or addition to colours and

llers. The sort o production o certain range o products

will be dened by the market demand and industrial

production.

estIMated ValueThe estimated value o the project ranges rom 50,000 EUR or the rst phase (purchase o an old stone four actory not in

unction but with all necessary inrastructure) to .5 milion – 4 million EUR or the second phase - construction o a new plant

and investing in technology.

Project statusThe project has environmental impact assessment study; clear title property; technical documentation; building permit and

concession on 0 years.

transactIon Model

Looking for investor or strategic partner. Company Brod Ltd. is opened for all possibilities of collaboration from joint venturesto the sale o ownership interests.







Company name:

Address:

Brod Ltd.35201 Podcrkavlje, Diljska 3

brod-PosaVIna county InforMatIon

contacts

73



Brod Ltd., tel.: +385 98 1914 073




Brod-Posavina County is the southern Slavonian county

in Croatia. Its center is the city o Slavonski Brod and it

spreads along the let bank o the Sava river, hence the

name Posavina.

Its territory can be divided into three parts: mountainous,

lowlands and plains. The County comprises cities,

6 municipalities and 185 settlements. 79,004 o the

inhabitants live in either o the two cities (6,68

inhabitants in the capital o the county Slavonski Brod,

and in Nova Gradiška 15,736), while 54.33 % of the people

rom the County inhabit its rural parts (9,989 inhabitants).

The county is situated in the southern part o the Slavonian

plain, between the mountain Psunj, hills o Požega

and Dilj on the north and the river Sava on the south

spreading over ,04 m2. It is characterised by two main

trac connections: The rst intercontinental (west-east)

connects the countries o Western Europe with those o

the Near East. This direction is intersected with rail, road,

river and telecommunication network, as well as pipeline.

The second trac line, so called interregional (rom

the North to the South), connects Eastern and Central

European countries with the Adriatic. The most important

state road E-70 Zagreb-Lipovac and the international

road E-7 Budimpešta – Beli Manastir – Osijek – SlavonskiŠamac cross Brod-Posavina County; the construction

o the road through Bosnia and Herzegovina, ending in

Ploče, is planned in the near uture. Two other importantroutes, D-53 Donji Miholjac – Našice – Slavonski Brod

and Požega – Nova Gradiška route also pass through the

County.

Slavonski Brod river Port is situated on the international

waterway of the IV category. The port area of Slavonski

Brod is connected by road and railway with international

inrastructure corridors as well as with the economic

operators in the city, it is located on the border with

Bosnia and Herzegovina, on the trac corridor X and inthe proximity of the trac corridors X and Vc junctions.

Osijek Airport is 90 km away; there is a sports airport

Aero-Club Brod, and there are 15 agricultural airelds.

Interstate railway line MG-C connects Western and

Eastern European countries.

The county’s economy is primarily based on manuacturing

industry, trade, agriculture and construction with its most

important export markets in Bosnia and Herzegovina,

Austria, France, United Kingdom and Italy.

The county oers a possibility o studying at Slavonski

Brod Polytechnics, Faculty o Mechanical Engineering

and Teachers Academy in Slavonski Brod. From business

inrastructure it has technological centres/parks (Centre

or Technological Development – Brod-Posavina County

Development Agency), Industrial Park Nova Gradiška;

Business zones: Luka Brod, Slavonski Brod – Bjeliš and

Kolonija, Davor, Dragalić, Industrial Park Nova Gradiška,

Brodski Stupnik - Rižino polje and Business incubators:BRODIN – Brod Business Incubator and Business

Innovation Support Centre (BISC) Nova Gradiška.







croatIan dreaMDubrovnik Pearl

Project descrIPtIon

Project “Croatian Dream - Dubrovnik Pearl” involvesbuilding within an area o 40 ha a luxury resort with hotels,

a tourist centre and additional acilities – 7 hotels and

resorts, 500 apartments, sports acilities, a marine or mega

yachts with 400 berths, gol course (7 holes), 0 private

villas, shops, restaurants, bars, museums, galleries, and

many other acilities.

The project is 100% privately owned and situated in an area

o special state concern o the Republic o Croatia, thus

allowing certain tax relies with the possibility o reductiono community contributions.

The total area covers 40 ha with a planned capacity o

,500 beds. The planned area or the gol course is 06

ha, o which 10 ha are planned or the buildings. The

building permit inside the zone enables the building

o acilities up to 5 levels, with a maximum height o

0 m, on the condition that 40% o the building plot is

organised as parks and natural green areas. The entire

inrastructure within the zone is set out in the planningdocumentation.

locatIon


The project is located in the tourist zone „Sestrice“, in thecentre of Dubrovnik-Neretva County on the eastern Adriaticcoast and at the corridor that connects Central and EasternEurope.

The location is attractive due to its proximity to the city o

Dubrovnik, the most amous Croatian city and world-classtourist centre.

The zone is only 50 km rom the A1 motorway, 50 km romrailway station Ploče, 60 km rom Dubrovnik Airport and 40km rom the Dubrovnik Seaport.

transactIon ModelLooking for investor or strategic partner.

Zagreb







Company name:

Address:

Website:

Dubrovački biser Ltd.10000 Zagreb, Florijana Andrašeca 8www.croatiandream.com


contacts

75



Dubrovački biser Ltd., Mr Vicenco Blagaić, Manager, www.croatiandream.com, e-mail: [email protected]






Dubrovnik-Neretva Country comprises 5 cities and 17

municipalities. The County includes smaller islands

covered in thick Mediterranean vegetation and orests,

smaller settlements and agricultural lands (olive groves

and vineyards).


predominance o tertiary services with tourism and

hospitality industries and maritime shipping as mainactivities. The region also has signicant agricultural

potentials in the area of the Neretva River Delta Valley and

in the Peninsula Pelješac known or the active production

o high quality wines.

The County is very well connected with an international

airport Dubrovnik, close to the modern A1 highway Split-

Zagreb, to the deep sea port o Dubrovnik suitable or

cruisers as well as an important cargo port Ploče (gateway

of the future Pan-European transportation corridor Vc).

Dubrovnik’s amous medieval old town (listed on

UNESCO’s world heritage list since 1979) along with the

island Korčula has positioned Dubrovnik and the County

as a high-end European and global tourist destination

(New York Times shortlisted Dubrovnik among 45 places

to visit in 01).

Tourism is constantly developing as a strategic industry

or the County, through investments in new and existing

hotels, sports and inrastructure capacities (14 ve star

hotels and 17 our star hotels, two gol resorts planned

within 5 km, a new investment in ACI Marina Slano).

The potential or high-end tourism has already beenidentied by international hotel chains (Hilton, Radisson

Blue, Rixos, Uzel Holding, Adriatic Luxury Hotels and

Luksic Group) present in Dubrovnik.

The educational inrastructure relevant to the sector

includes high schools or hospitality and catering and two

universities with excellent programs related to tourism

(ACMT-RIT New York and Dubrovnik University).

Project status

The project has a clean title property,

the location is included in the spatial

plan; easibility study has been made,

whereas urban development plan and

environmental impact assessment study

are in progress.







HIPersfera l.SME: Unmanned aerial vehicles and remote sensing

sHort Project descrIPtIon

coMPlete turn-Key solutIon

Hipersera d.o.o. is a startup R&D Company rom Zagreb,Croatia, that is developing a Hypersphere system orcontinuous surveillance which represents a disruptiveinnovation or two major ast growing industries:unmanned aerial vehicles and remote sensing (7. Bn USDin 011).

THE PROJECT IS dIVIdEd InTO 2 InVESTMEnT PHASES:

The Hypersphere project is built around an airship as “aneye in the sky” that can continuously monitor the Earth,over particular geographical area, beating satellites andairplanes both in price and perormance. Depending uponthe type o payload the airship is carrying, data could beused as a trac control tool, or border control or an earlywarning re prevention system, etc.

The Hypersphere project oers a turn key solution or

continuous surveillance. Hypersphere HS-5k system or

continuous surveillance is comprised of a MALE UAV

unmanned aerial vehicle with extended endurance (4 to

100 hours o continuous fight, depending on environmental

conditions), and communication and ground inrastructure

required or providing ground inormation in real time.

Data collected with the surveillance equipment is sent or

processing to the central database, where it is available to

the OPS center as well as to personnel on the ground. HS-

5k system operator has complete control over the entire

(encrypted) data chain, which is oten not the case or

surveillance systems oered by other manuacturers.

Hypersphere HS5k

InVestMent Value



DISCLAIMER: Information contained in this document h as been provided by Croatian Agency for SMEs and I nvestments. Purpose of this document is to give short inormationabout companies and/or investment possibilities to potential investors. The prole is for information purposes only. No responsibility or liability is accepted for the information in this document.

HAMAG InVESTCroatia Agecy for SMEs a Ivestmets, Prilaz Gj. deželića 7, 10 000 Zagreb, Croatia

The rst phase (6 months) was nished at the endo 011, with a budget o 1.00.000 EUR. The leadinvestor was the Croatian government in addition to

0% provided by private investors. The purpose o therst phase is to build a scaled prototype to prove theconcept. Seven independent nancial and technicalaudits have been conducted and a ully unctional 1stscale model has been built and fown or over 500+ testhours. In addition a PCT patent has been granted (WO-0105769-A1).

For the second phase (Hypersphere HS-5k) we arelooking or an investment o 5.000.000 EUR, in order todevelop the HS 5k airship (ully operational commercialplatorm), over a time span o 18 months.

.

.

The investment value is 5 million EUR.



Agency name:

Address:Website:


HyPersPHere Hs-5K aIrsHIP

global MarKet

tHe Most cost-effectIVe contInuous surVeIllance systeMWith per-fight hour expenses ten to teen times lower

than other unmanned systems in the same class, the HS-5k system enables a considerable increase in protability oruse o unmanned aerial systems in public and commercialdomains, as well as a signicant market application

expansion. Furthermore, in the remote sensing industry

the price per square kilometer or a very high resolutionimage (e.g. 0 cm/px) is more than 00 times higher than theproduction expense o the equivalent remote sensing dataobtained through the HS-5k system.

Hypersphera HS5k Airship

Hypersphere HS-5k aircrat is classied as an autonomousunmanned airship o medium altitude long endurance, socalled MALE UAV. It uses helium to maintain its altitude,

while the attitude and position control is done viaelectrically driven vectored actuators. This signicantly

reduces overall power and energy requirements, enablingextended and very stable perormance.HS-5k airship has a payload capacity o 100 kg, which issucient or a sophisticated set o surveillance devices.Integrated camera systems enable human detection inoptical and mIR (thermal) spectra, including reducedvisibility situations. It is possible to integrate other sensorsystems (mSAR, LIDAR, hyperspectral camera, ...) on

demand.An important eature is the aircrat’s availability o at least50%. In other words, expected fight time per year is at least4,400 hours. Availability this high (signicantly higher than

most UAVs on the market) is the result of modular airshipdesign, lean feet operations, as well as a high range o operational altitude – rom to 5 km above sea level.Cruise airspeed is 40 kph, while the maximum airspeed is 65kph. Those airspeeds, in combination with a wide operatingaltitude range, enable airship operations throughout theyear, in almost all weather conditions.

Take-o and landing is perormed vertically and can beperormed during rain, og and snow, in up to 40kph windirrespective o direction. SOP or take-o and landingrequires crew o only 4 to 6, while one shit in the operative

base can do up to our take-o and landings per day.

Control o the airship during take-o and landing can eitherbe automatic or perormed by a remote pilot rom the base.Modular design enables quick MRO cycle (servicein-between two consecutive fights), uninterrupted

availability o spare parts, and simple and ecient upgradeo individual subsystem. Aorementioned eatures areresponsible or very low operative costs, less than 100EURper fight hour, including uel, spare parts, human resourcesand other operative expenses.HS-5k aircrat has a modern transponder MODE S/C, and canfy within the air-trac control system (ATC) or individually.Mission Plan is given by the ground control operator,beore the mission, but it can also be updated in fight, as areaction to the situation on the ground, such as tracking o an object or subject. Expected liespan o the aircrat, with

regular and proper maintenance, is at least teen years.

HS-5k as a tool or continuous surveillance represents aproduct targeting a global market, while competing in twomajor industries: unmanned aerial vehicles and remotesensing. The remote sensing market generated 7,Bn USDrevenue in 011, growing at 5,5% AAGR.

Hypersphere is capturing the value at the top end o Remotesensing industry value chain. Data collection and data

processing, as processes in the value chain, constitute 66%

o the market. Existing platorms, satellites and airborneplatorms are main competitors o Hypersphere, generatingrevenues in the same part o the value chain. Hypersphereincorporates the best characteristics o satellites and airborneplatorms. Being a unique, state o the art, high-tech productand taking rst mover advantage, Hypersphere airship willtake signicant percentage o market share ater beingcommercialised (in > 18 months), but more important, it will

create new markets which don’t exist at present.

77DISCLAIMER: Information contained in this document has been provided by Agency for Investments and Competitiveness of the Republic of Croatia. Purpose of this document is to give shor t information about companies and /or posibilities to



HAMAG InVEST Croatia Agecy for SMEs a Ivestmets, Prilaz Gj. deželića 7, 10 000 Zagreb, Croatia

contactHAMAG INVEST- Croatian Agency for SMEs and Investments, www.investcroatia.hr, e-mail: [email protected]. Nikola Dulčić, Head of Investment Sector, e-mail: [email protected]



Hortus croatIaeThe Garden of Croatia

Project descrIPtIonThe project involves construction o a wellness & health

resort together with an additional attraction in the ormo Tropical Gardens; energy generation rom sustainable

geothermal source with combined steam and gas production

o electricity and heat, and real estate development with

villas and apartments together with the building o a mineral

water bottling plant.

THE PROJECT IS dIVIdEd InTO 3 PHASES:

Phase 1 - involves construction o a Geothermal power plant;

Health and Water Park with horticultural gardens; Tropical

Gardens; Greenhouse agriculture and sh breeding.

Phase 2a - Medical Policlinic (primarily Dermatology &

Gynecology); 40 rooms All suite 4+/5 star boutique hotel;

240 units in Villas & Apartments village (to be sold on RE

market); 9-hole gol course.

Phase 2b - Mineral water bottling plant “Aqua Hortus”

The whole HORTUS CROATIAE complex is envisioned as

an organically structured horticultural park village in an

exceptionally attractive horticultural environment with

natural water and pools suraces, resonating natural

warmth, cosy atmosphere, hospitality, tradition and natural

environment at a 4+* (to partially 5*) quality level withextremely economically and nancially ecient energy and

water production elements.

transactIon Model

estIMated ValueTotal gross estimated value o the all three phases o the project is 154 mil EUR. Presentation o the planneddevelopment phases and new investment cost (excludingexisting development value/cost: urbanized land,

inrastructure, development, taxes and other assets andcosts already invested): Phase 1 (Year 2013 to 2015) = 55.5mil EUR ; Phase 2a (2014/2017) = 83.5 mil EUR; Phase 2b(2014/2016) = 15 mil EUR

Project HolderThere are two companies involved in the project: AquaAera Terra d.o.o. (LLC) or abbreviated AAT d.o.o. and thecompany AAT Geothermae d.o.o.. The company AAT d.o.o. isthe owner o 500.000 m2 o urbanised land and the health

tourism, spa, tropical garden, water bottling and real estate& gol project, while the other AAT Geothermae d.o.o. is theproprietor o 6.000 m2 o urbanised land, geothermal welland sustainable energy production project.

The Developer is looking or a potential nancial/strategicinvestors and partners to enter the project companies by

acquisition o certain amount o the shares o the AATcompany or/and AATG company; adding capital or oer apreerred equity acility or mezzanine nancing acility (or

other combination o capital and nancing transaction i demanded by the policy o Investor/nancer).

Investors can enter into each company separately or intoboth companies simultaneously.







Company name:

Address:

Aqua Aera Terra Ltd.40325 Draškovec, Zelena 1

MeÐIMurje county InforMatIon

contacts

current status

79

Croatian Chamber o Economy, Investment Promotion Centre; www.hgk.hr; e-mail: [email protected]. Silva Stipić Kobali, Managing Director, e-mail: [email protected] Ltd., Mr. Peter Vesenjak, Director; e-mail: [email protected]

The property is situated in the Međimurje region, in Northwest

o Croatia, in the Municipality Prelog and the Draškovec

settlement, in close vicinity of the highway Zagreb-Varaždin-Budapest. Location is situated near the river Drava and its 17

km2 large lake thus allowing additional leasure sport activitiessuch as water sailing, rowing sports and shing. The capital

city o Croatia, Zagreb (and its main airport) is only a 50

minute drive away. The location is in the car drive vicinity away

rom the markets o Austria, Hungary, Italy, Slovenia, CzechRepublic, Southern Germany, as well as the city o Zagreb andall northern Croatia and nearest eastern European countries,which orm the most important European Spa markets.

The project consists o 560,000 m2 o land, all plannedand urbanized in the County, City and Detail Urban Plano the City o Prelog or development and constructiono tourist acilities (T1 and T), Geothermal Energy andMineral water exploitation (E) and Residential villas andapartments units development (M - mixed use). The

Detail Urban Plan or the site (or the 1st zone o approx.00,000 m2) regulates the positioning o three hotels;Energy production rom geo-thermal source and mineralwater bottling exploitation acilities and the Water &Wellness & Health Park with recreation acilities – orwhich the building permit was obtained in October 010and construction works can start any time in 01/014.For the second zone (40 residential units in villas andapartments surrounded with a 9 holes gol course), theprocess o dening the nal conceptual design and theDetail Urban Plan is also nished.

Documentation or the building and energy permits orenergy production plant are in preparation by specialistsor renewable energies permitting in Croatia and Facultyor mining and petroleum exploitation in Zagreb, and areto be nished by mid-01. The start o the testing phaseo the energy production plant is planned or autumn

01. The developer has prepared all the technical andnancial easibility studies or 1st phase development(energy production plant, water & health park, tropicalgardens). They have also already started to invest intothe project o energy plant AAT Geothermae and haveso ar secured nancing until the nished testing phaseo the plant. For all phases the complete investmentprogrammes and business plans have been made, as wellas the debt/loan nancing conditions or their realisationare agreed with the local commercial and developmentbanks.

locatIon





Population (011): 114,414GDP per capita (010): 7,885 EUR Unemployment rate (011): 16.8% Average gross monthly salary: 783 EURAverage gross salary in the sector (tourism): 543 EUR

Međimurje County is located in the northernmost part o the Republic o Croatia bordering Slovenia and Hungary andbetween Mura and Drava rivers. The County´s great advantageis its close proximity to highways (Budapest-Lendava-Graz-Vienna and Budapest-Zagreb-Rijeka) and airports (Zagreb,Maribor, Varaždin), as well as railway connections, which

are nowadays the main backbone route o Middle and EastEurope towards northern Adriatic parts. Čakovec, the countyseat and also the biggest city o the County is about 90kilometres North-East of Zagreb, the Croatian capital. Themost important actors that determine the economy anddevelopment o the County are its geographical position,natural resources and population, as well as the tradition o entrepreneurship and avourable business environment. Theeconomy o Međimurje is ast-growing with highly developedtrade (6.7%), manuacturing (.0% - ood production,ood and wood processing, production o textiles, ootwear,plastics), construction (14.5%) and building materials.It is export-oriented (to Germany, Austria, Italy, France,

Slovenia, Netherlands) and based on small and medium-

sized enterprises. In 006, Međimurje County received theInvestment-Friendly Region Certicate, and was ranked third

among small European regions in the competition European

Cities/Regions o the Future 010/011, organised by FDI

Magazine, one o the leading magazines on global business(ourth among southern European regions and thirteenth

overall). Natural beauty of Međimurje county with numerous

slopes o oothills, lowland interior intersected by hundreds

o smaller lakes and waterways, its preserved natural and

built resources o high quality potable groundwater and

thermal water, rich cultural and natural heritage, well-built

inrastructure, with an emphasis on a preserved environmentare an excellent prerequisite or the urther development

o tourism. Međimurje is also known as a Flower Garden o

Croatia. So ar the tourism ocus has solely been on the Adriaticcoast and the summer tourism. However, over the last several

years the potential o the inland tourism has been recognized

and both investments and promotion in this segment have

increased which together with a recent development o

gastro and wine tourism ostered tourism growth. The growth

rate o the overnight stays in the County in period 008-01

amounts to 10.4% (The Republic o Croatia 4.5%), which makes

it the astest growing county in terms o tourist overnights.



IMPerIuM toWer

Project descrIPtIonImperium Tower is planned to be constructed as a

multipurpose tower consisting o hotel section, ocespace and lounge bar on the 8th foor.

Total Gross Area o the building is 7,055 m², o which1,9 m² above ground and 5,76 m² underground.

Above-ground part o the building consists o parts, astorey ground foor +8 foors, and another ground foor+ foors. The ground level o a larger volume (groundfoor +8 foors) consists o a lobby, hotel reception andthe entrance to the business section, while the back area

is reserved or the garage. On the rst, second and thirdfoor respectively there is a hotel restaurant with kitchenand on the nd and rd foor there are conerence hallswith accompanying kitchens purpose, and in one part o the nd foor there is hotel management oce, while theback part o the foor will contain parking lot.

Levels from the fourth to tenth oor are reserved for a hotelwhich will consist o rooms per foor, 154 rooms in total.

Levels from 11 through 28 are reserved for oce spaces.

The 8th level will contain a lounge bar with oce spaces.

The acility has three underground levels consisting o thegarage parking spaces.

The third underground level is planned to have a placeor recreation and wellness, and the second underground

level is planned or an entertainment area (casino).

locatIon descrIPtIon

Project status


The building is located in the Croatian capital o Zagreb, atthe junction o Zagreb Avenue and Savska Street (the two

busiest roads in Zagreb, located approx. km rom the main

city square). It is situated at a distance o 0 m rom a tramstop. There is a lay-by or buses 10 m rom the building, and

it is a ve-minute drive rom the main motorway.

The project has a valid location permit with the completeproject documentation necessary or a building permit. Theonly proposed site 100% owner is Imperium Projekt Com-

pany d.o.o. Construction works are possible 60 days aternalising nancing or the project. A protability study o the project has been made based on the HVS method.





tyPe of InVestMentThis is a private investment and the project holder is looking or joint venture, strategic partner or nancing o the project.



Company name:

Address:

Website:

Imperium projekt Ltd.10000 Zagreb, Savska cesta 110www.imperiumtower.com

tHe cIty of zagreb

contacts

81

Croatian Chamber o Economy, Investment Promotion Centre; www.hgk.hr, e-mail: [email protected]


Imperium projekt Ltd., Mr. Tomislav Delivuk, e-mail: [email protected]




Average gross monthly salary: 1,250 EUR

The City o Zagreb is the capital and the biggest city in the

country. It is a cultural, scientic, economic, political and

administrative centre with seat o Parliament, President

and Government o the Republic o Croatia, located at the

intersection of European trac corridors (Vb and X pan-

european highway corridors as well as Va and X railway

corridors).

According to the results o 011 census, Zagreb has 79,875inhabitants, which represents around 18% o total population

o Croatia. It has dominant economic, nancial and political

status in the Republic o Croatia, and accounts or approx.

7% o Croatia’s total exports, 60% o Croatia’s total imports

and 5% o total revenues. Almost hal o total FDI in 01

was in Zagreb.

There is a predominance o service activities (especially

wholesale and retail commerce) which participates with

8% in the total revenues. However, primary and secondary

activities are developed as well, primarily processing industry

(production o electric machines and devices, chemical,

pharmaceutical, textile, ood and drink processing). The

largest number o enterprises is in trade, ollowed by

scientic and technical services.

As a touristic, business and administrative centre, City o

Zagreb achieved 767,66 guest arrivals, with approx. 1.5

million overnight stays, o which 77% were made by oreign

visitors. The hotel sector includes 50 hotels with ,787

accommodation units; however there are only three hotels

with 5-star and 1 hotels with 4-star categorization.

A wide range o education institutions is concentrated

in the City o Zagreb: in addition to University o Zagreb

with a tradition since 1669, which includes 9 aculties,

4 academies, a university centre o Croatian studies and

a number o institutions o higher education, there are 1

private aculties and institutions o higher education.







rIMac autoMobIlI l.SME: Automotive, Manufacturing, Composites

sHort Project descrIPtIon

concePt_one

Rimac Automobili is a high-technology company ocusedon development and production o the world’s nest

electric vehicles, drivetrains and battery systems. Our

goal is to revolutionise the sports car industry through

the application o new technology. In addition to our

own vehicles, we oer ully integrated high-perormance

electric and hybrid propulsion systems or vehicles (motors,

transmission, batteries, controllers...) together with the

know-how and manuacturing capabilities to develop

and produce complex products such as sports cars romthe rst idea to nished products in a vertically integrated

process. Rimac Automobili high-perormance components

oer a high level o integration and the highest level o

perormance or sports cars on the market which is proven

by 5 Guinness World Records and FIA Records.

A vehicle manuacturer is considered capital-eective i

a new vehicle is developed with a budget o less than one

billion dollars. Rimac Automobili hasn’t “just” developed a

new type o sports car, but also the technology under the

skin o the vehicle with a raction o the industry standard

cost. 1088 horsepower make the Rimac Concept_One the

world’s most powerul electric car. It can accelerate rom 0

to 100 kph in just ,8 seconds and cover 600 km on a single

charge. Rimac Automobili’s motor and battery systems

provide the highest power and energy density currently

available on the market.

The only way to achieve that was by vertical integration o

all R&D and production processes which generated valuable

know-how. That know-how can now be used to develop

vehicles or other manuacturers in a very cost-eective

way. We understand not only innovative electric propulsion

concepts, but the ull vehicle-development process, which

makes us the ideal partner or demanding projects.

Cocept_Oe orl’s most poerful electric car



DISCLAIMER: Information contained in this document has been provided by Croatian Agency for SMEs and Investments. Purpose of this document is to give shortinformation about companies and/or investment possibilities to potential investors. The prole is for information purposes only. No responsibility or liability is accepted for the information in this document.




Agency name:

Address:Website:


High power combined with our high quality standards, make

our products the ideal choice or demanding applications.

Our expertise ranges rom development o battery systems,

design and production o entire vehicles including chassis,

suspension, composite body, inotainment systems etc. Our

engineering services and propulsion components can beapplied in various systems primarily automotive but also

or other types o vehicles - on the ground, in the water and

in the sky. For example: our batteries are already used in

bicycles, sports cars and levitating maglev trains.

In terms o BC products, we plan to introduce new

models o sports cars and bikes on the market. The

investment will also be used or increasing production

capacity or production o 0 sports cars annually during

the ollowing to years which will generate 15.000.000

€ revenues annually. A new model at approximately

hal the price o the previous model will be introduced

every - years which will increase production o vehicles

exponentially with every new model expansion.

On the BB side, we will acquire more equipment and

hire more R&D and production sta to handle bigger

projects which will generate signicant revenue and

open the mass market or our propulsion components.

Active Battery Maagemet System ABMS

83

fully Integrated electrIc and HybrId ProPulsIon systeMs for VeHIcles

neW Models and Projects

The investment value is 10 million EUR.

InVestMent Value

contact



DISCLAIMER: Information contained in this document has been provided by Croatian Agency for SMEs and Investments. Purpose of this document is to give short inormationabout companies and/or investment possibilities to potential investors. The prole is for information purposes only. No responsibility or liability is accepted for the information in this document.


HAMAG INVEST- Croatian Agency or SMEs and Investments, www.investcroatia.hr, e-mail: [email protected]

Mr. Nikola Dulčić, Head of Investment Sector, e-mail: [email protected]



Project rIVIjera PašMan,Island of Pašman

transactIon Model The Project Riviera Pašman is a greeneld project owned

by the Municipality o Pašman, the owner o 97% o total00 hectares o land envisaged or the implementation o

the Project.

The Municipality o Pašman as the project owner has

established a special vehicle company (SPV) called Pašman

Riviera Ltd. which will be oered for sale to the best

bidder selected in an international tender. In this stage the

potential investors are expected to propose the price or a

construction right and lease or the project land. Pašman

Riviera Ltd. will be granted the construction right on 100

hectares or a period o 99 years (tourist zone T), while the

rest o the land in the project scope planned or recreation

(potentially including a gol course) and agriculture will be

oered or lease or the same period o time. The tender is

expected to be announced during 014.

OBJECTIVE:

The goal o the Pašman Resort Project is the development

o top-quality and attractive tourist destination o the

highest category with an innovative marketing concept

that should enable sustainable tourist development on theIsland o Pašman while preserving natural characteristics

o the area and respecting local tradition and cultural

heritage.

Project descrIPtIon

The project is located in the southern part o the Island o

Pašman, Zadar County, in one o the best preserved and most

attractive areas in the Adriatic Sea near the Kornati National

Park with its many islands.

The project location is easily accessible due to a short distance

rom the mainland (good erry connections to Zadar and

Biograd, and international erry lines between Zadar and

Ancona), and Zadar International Airport (18 kilometres).

Pašman and Ugljan are connected by a bridge. These two

islands are also connected by bus lines, and the busses arecoordinated with almost all the erry lines on both sides. The

development area o the project is 300 hectares, located

along an 8 km long sea shore, out o which approximately 100

hectares are a construction area and some 190 hectares are a

potential recreational (gol course) and agriculture area.

The project includes the construction o hotels, tourist

apartments and villas with a total capacity up to 4,000

beds, along with accompanying acilities and adequate

inrastructure in two zones: zone A (bay Soline) and zone B (bay

Žinčena). Basic documentation or project implementation

has been prepared (urban development plan will be createdater the selection o eligible investors).

estIMated Value500 mil EUR.





Zagreb



Project name:

Address:

Rivijera Pašman23 262 Pašman


contacts

Planned caPacItIes

85

ZOnE A (BAY SOLInE)

Hotel 4*; levels, 400 rooms/800 beds, size 6,000 m2(gross developed area-GDP),Villas; levels, 6 units/60 beds, size ,100 m2 (GDP),Houses i the ro; levels, 110 units/57 beds,15,180 m2 (GDP),Apartmets; 1 and levels, 116 units/568 beds,11,90 m2 (GDP).

ZOnE B (BAY ŽInčEnA)

Hotel 5*; levels, 10 rooms/60 beds, size 1,000 m2 (GDP),Hotel 5+*; levels, 80 rooms/160 beds, 1,800 m2 (GDP),

Villas; levels, 6 units/6 beds, size 7,090 m2 (GDP),

Houses i the ro; levels,109 units/604 beds, size15,600 m2 (GDP),Apartmets, 1 and levels, 10 units/750 beds,

15,765 m2 (GDP).

OTHER FACILITIES (SELECTEd):

Convention Centre, Wellness Centre, Harbour or 180 berths,Fisherman Harbour or 0 boats, Maritime Club, Diving &Water Ski Center, Bowling area, TC Food & Beverage, TC Retail,

TC Services (Post oce, Bank, Ino desk…), TC Entertainment(discotheque, bowling), TC Square, Articial beach, Sport

and Recreation area, Amphitheatre.

Croatian Chamber o Economy, Investment Promotion Centre, www.hgk.hr, e-mail: [email protected]. Silva Stipić Kobali, Managing Director, e-mail: [email protected]šman Municipality, www.pasman.hr, e-mail: [email protected],

Project manager: Eugen Sorić, e-mail: [email protected]










Zadar County is situated in northern Dalmatia in Croatia.The County’s total area is 7,486.91 m2 o both sea and land.







in 011-01.

The County’s economy is primarily based on crats, industry,












the capacities in hotels and camps are classied as a 4-star

category. There are also 6 marinas with a total o 1,818

berths. As a successul tourist region in Dalmatia, ZadarCounty recorded 6,770,05 overnight stays in 01. Most o







urther development and enrichment o the tourist oer o

the County. The county is conveniently located near some







Group.



Project descrIPtIon

Pellets

InVestMent Value The investment value is 4.8 million EUR.

strategIc Plan l., bkvSME: Biofuel production (pellet production)

Strateški plan d.o.o (Strategic plan ltd) is a companyspecialized in development and management o renewable

energy and cogeneration power plants projects. Currently,

it is developer and investor in two biomass energy plants

and two pellets actories o equal capacities at the location

o Croatian cities Županja and Benkovac. For the purpose o

greeneld pellets projects, Strateški plan established special

purpose vehicles (SPVs) - Peleti Županja Ltd. and Peleti

Benkovac Ltd.

The project includes the construction and implementation

o pellets actory with the capacity o 6 tons pellets per hour.

Total annual production o pellets is estimated at 45,000

tons. Annual quantity o raw material (wood logs and chips)

needed or estimated pellets production is 71,000 tons.

Pellets are used in specially adopted stoves and boilers or production o thermal energy. Pellets are biouel produced rom

chipped trees (renewable energy source) with the ollowing characteristics:

• Length: max 4 cm

• Diameter: 6-8 mm

• Humidity: 8-10%

• Specic gravity: 1-1.4 kg/dm3

• Percentage of ash content: 0.5%

• Weight by volume: 650 kg/m3• Caloric value: 4.9 kWh/kg – 20,223 kJ/kg







Agency name:

Address:

Website:


groWIng MarKet and secure raW MaterIal & energy suPPly

tecHnology

locatIonPellets actory will be located in business zone Šopot, north

o the A1 motorway route node Benkovac, 15 km away

rom Zadar in southern part o Croatia. The construction

land is purchased in 008 and is intended or construction

o production, commercial and business acilities. The

construction land is ully equipped with utilities and other

inrastructure.

THIS LOCATIOn IS VERY COnVEnIEnT FOR SEVERAL

REASOnS:

• It will be placed next to a biomass cogeneration plant

which will supply pellets actory with thermal energy at

competitive prices.

• Since it will be very near to the power plant, the costs of

heat transmission will be minimal.

• The location is very well connected to railway, motorway

and sea with the raw material and pellets market.

87

PELLETS FACTORY COnSISTS OF FOLLOwInG TECHnOLOGICAL UnITS:

• Technology unit for receipt, handling and processing of fuel (wood logs and biomass)

• Technology unit for fuel drying (wood biomass drying)

• Technology unit for dry chips (biomass) grinding

• Technology unit for pellets production

• Technology unit for nal product packing

Pellets market research led to the conclusion that pellets

demand is growing and that total quantity o produced

pellets can be exported at the price o EUR 150 per

ton, FCA pellets actory. The investor has secured the

construction land, located next to cogeneration energy

plan which will supply pellets actory with clean thermal

energy at competitive prices. Estimated power o heat

needed or pellets actory is 5,9 MW with 7.500 working

hours p.a. A long term heat supply will be agreed or a

period o 14 years. Peleti Benkovac has already signed the

contract or raw material (wood logs and biomass) supply

with the company specialized in wood logs and wood

biomass trade. Project developer also signed letter o

intent or selling the whole produced quantity o pellets.

Technology providers o main components are reputable

companies CPM (Caliornia Pellet Mill) and Stela. Stela will

provide technology unit or raw material drying, called Belt

dryer. CPM will provide other technology units. Construction

works, engineering and designing will be done by Croatian

companies. Project developer will sign EPC contract with

the company who will be responsible or pellets actory

construction. Construction is planned to be perormed as a

“turnkey” system.

Pellets actory project is in the stage o location permit

acquiring and end o construction works is expected to occur

in February 014. We will be able to start with rst delivery o

goods in March 014.

contact









Pellets

InVestMent Value The investment value is 4.8 million EUR.

strategIc Plan l., ŽpSME: Biofuel production (pellet production)

Strateški plan d.o.o (Strategic plan ltd) is a companyspecialized in development and management o renewable

energy and cogeneration power plants projects. Currently,

it is developer and investor in two biomass energy plants

and two pellets actories o equal capacities at the location

o Croatian cities Županja and Benkovac. For the purpose o

greeneld pellets projects, Strateški plan established special

purpose vehicles (SPVs) - Peleti Županja Ltd. and Peleti

Benkovac Ltd.

The project includes the construction and implementation

o pellets actory with the capacity o 6 tons pellets per hour.

Total annual production o pellets is estimated at 45,000

tons. Annual quantity o raw material (wood logs and chips)

needed or estimated pellets production is 71,000 tons.

Pellets are used in specially adopted stoves and boilers or production o thermal energy. Pellets are biouel produced rom

chipped trees (renewable energy source) with the ollowing characteristics:

• Length: max 4 cm

• Diameter: 6-8 mm

• Humidity: 8-10%

• Specic gravity: 1-1.4 kg/dm3

• Percentage of ash content: 0.5%

• Weight by volume: 650 kg/m3• Caloric value: 4.9 kWh/kg – 20,223 kJ/kg

Županja





Project descrIPtIon



Agency name:

Address:

Website:


groWIng MarKet and secure raW MaterIal & energy suPPly

tecHnology

locatIon

89

PELLETS FACTORY COnSISTS OF FOLLOwInG TECHnOLOGICAL UnITS:

• Technology unit for receipt, handling and processing of fuel (wood logs and biomass)

• Technology unit for fuel drying (wood biomass drying)

• Technology unit for dry chips (biomass) grinding

• Technology unit for pellets production

• Technology unit for nal product packing

Pellets market research led to the conclusion that pellets

demand is growing and that total quantity o produced

pellets can be exported at the price o EUR 150 per

ton, FCA pellets actory. The investor has secured the

construction land, located next to cogeneration energy

plan which will supply pellets actory with clean thermal

energy at competitive prices. Estimated power o heat

needed or pellets actory is 5,9 MW with 7.500 working

hours p.a. A long term heat supply will be agreed or a

period o 14 years. Peleti Benkovac has already signed the

contract or raw material (wood logs and biomass) supply

with the company specialized in wood logs and wood

biomass trade. Project developer also signed letter o

intent or selling the whole produced quantity o pellets.

Technology providers o main components are reputable

companies CPM (Caliornia Pellet Mill) and Stela. Stela will

provide technology unit or raw material drying, called Belt

dryer. CPM will provide other technology units. Construction

works, engineering and designing will be done by Croatian

companies. Project developer will sign EPC contract with

the company who will be responsible or pellets actory

construction. Construction is planned to be perormed as a

“turnkey” system.

Pellets actory project is in the stage o location permit

acquiring and end o construction works is expected to occur

in February 014. We will be able to start with rst delivery o

goods in March 014.

contact

Pellets actory will be located south o the Županja junction.

The land is intended or construction o production,

commercial and business acilities and is located in the

centre o the industrial zone. The construction land is ully

equipped with utilities and other infrastructure. Land

purchase was executed in 009.

THIS LOCATIOn IS VERY COnVEnIEnT FOR SEVERAL

REASOnS:• It will be placed next to a biomass cogeneration plantwhich will supply pellets actory with thermal energy atcompetitive prices.

• Since it will be very near to the power plant, the costs of heat transmission will be minimal.

• The location is very well connected to railway andmotorway with the raw material and pellets market.









sVetI MartIn Hotels and resort,Sveti Martin na Muri

Project descrIPtIon

estIMated Value

The company Toplice Sveti Martin Plc. is located in the very

North of Croatia in Međimurje County, minutes away fromthe borders with Slovenia and Hungary, and 10 km romthe capital o Croatia, Zagreb. It is well-connected by mainroads to the Budapest-Lendava-Graz-Vienna (10 km) andBudapest-Zagreb-Rijeka (0 km) highways and main airportsin Croatia and the neighboring countries.

The Company was ounded in 00, and up to nowapproximately 8 million EUR has been invested in the resort,which today is one o the leading Croatian inland SPAs, thatcaters or individual, corporate and sports customers.

The current investors/owners plan to upgrade and extendthe existing complex (with 147-key liestyle 4* hotel, sel-contained wellness club, reconstruction and expansion o the water park with an adventure park, auto camp, ootballeld with a heated ground and construction o inrastructureacilities or energy independence and sustainability) and arein search or a joint venture partner. The scope o partnershipwith a new investor is open or discussion. All documentationnecessary or the new investment is ready.

Estimated value o new investment: million EUR


Year 2010 2011 2012



EBIT (1,04,08) (,05,41) (1,501,049)

EBITDA (718,704) (84,66) (94,65)

Net income (1,806,895) (2,122,847) (2,040,943)Total assets 4,14,7 40,8,477 8,987,659









Company name:

Address:

Website:

Toplice Sveti Martin Plc.40 313 Sveti Martin na Muri, Grkaveščak b.b.www.spa-sport.hr

contact

81-key apartment complex Regina 4* with 14 beds, arestaurant or 00 persons and three multi-purpose halls,

Indoor swimming pool complex (1,050 m²) with a spinaltherapy and physiotherapy centre and restaurant,

Multiunctional building with restaurants, small shops,summer changing rooms with lockers, and ,850 m² o summer swimming pools with whirlpools and 5 types o water slides, a landscaped swimming area o 10,000 m²with ,000 deckchairs and 4 summer cae restaurants withapproximately 900 seats,

157– key Spa Goler 4* hotel (151 rooms and 6 suiteswith 14 beds and 5 extra beds) with a multiunctionalconerence hall or 500 persons, a 1,800 m² wellness centre,restaurants and kindergartens,

Recreation area (a gol course with 9 holes and drivingranges, a ootball pitch, 4 tennis courts with foodlights,a basketball court, bocce courts and a beach volleyballcourt),

Gol club with shops, restaurants and a gol simulator,covering gross foor area o 0,000 m2






Međimurje County is located in the northernmost part o the Republic o Croatia bordering Slovenia and Hungaryand between Mura and Drava rivers. The County´s greatadvantage is its close proximity to highways (Budapest-Lendava-Graz-Vienna and Budapest-Zagreb-Rijeka) and

airports (Zagreb, Maribor, Varaždin), as well as railway

connections, which are nowadays the main backbone routeo Middle and East Europe towards northern Adriatic parts.Čakovec, the County seat and also the biggest city o theCounty is about 90 kilometres North-East of Zagreb, the

Croatian capital.

The most important actors that determine the economy anddevelopment o the County are its geographical position,natural resources and population, as well as the tradition o entrepreneurship and avourable business environment.The economy o Međimurje is ast-growing with highlydeveloped trade (6.7%), manuacturing (.0% - oodproduction, ood and wood processing, production o textiles, ootwear, plastics), construction (14.5%) andbuilding materials. It is export-oriented (to Germany, Austria,Italy, France, Slovenia, Netherlands) and based on small and

medium-sized enterprises.

In 006, Međimurje County received the Investment-Friendly Region Certicate, and was ranked third amongsmall European regions in the competition European Cities/Regions o the Future 010/011, organised by FDI Magazine,one o the leading magazines on global business (ourthamong southern European regions and thirteenth overall).Natural beauty of Međimurje county with numerous slopes of

oothills, lowland interior intersected by hundreds o smallerlakes and waterways, its preserved natural and built resourceso high quality potable groundwater and thermal water, richcultural and natural heritage, well-built inrastructure, withan emphasis on a preserved environment are an excellentprerequisite or the urther development o tourism.Međimurje is also known as a Flower Garden o Croatia.

So ar the tourism ocus has solely been on the Adriatic coastand the summer tourism. However, over the last several yearsthe potential o the inland tourism has been recognized

and both investments and promotion in this segmenthave increased which together with a recent developmento gastro and wine tourism ostered tourism growth. Thegrowth rate o the overnight stays in the County in period008-01 amounts to 10.4% (The Republic o Croatia 4.5%),which makes it the astest growing county in terms o touristovernights.

The County has Sveti Martin Gol Resort, which is located ina protected natural area. The 9-hole gol course with heated,articial tur putting greens is among the rst courses in

Europe o this kind.

91

Toplice Sveti Martin na Muri, Plc., Contact person: Mr. Rudol Radiković, e-mail: [email protected]


MeÐIMurje county InforMatIon





ExISTInG FACILITIES:



tourIst zone rastoVaca,Plitvice Lakes

objectIVe

coMPany

Project suMMary

Development o a multi-purpose tourist complex that should oer accommodation o a 4-star category hotel, in addition to

wellness and sports facilities, in a near vicinity of the Plitvice Lakes National Park.

Ošljar Ltd. is the owner of 95% of land within the Project area.

Tourist Zone Rastovača, with a surace area o around 1.hectares, is located in the northern part o the PlitviceLakes Municipality (next to the town of Rastovača), on the

border of the Plitvice Lakes National Park. It is envisagedor the development o multi-purpose tourist complex.

The Plitvice Lakes National Park is the most visited amongeight national parks in the Republic o Croatia, and itwas among the rst ones in the world to be enlisted intoUNESCO’s World Heritage List. Surrounded by valuablecultural and historic sites and exquisite natural beauty, thenational park was recognized at the international touristmarket a long time ago.

The National Park has more than a million visitors annually,and there is a great demand or high-category hotelaccommodation capacities which currently do not exist.

A Detailed Development Plan is being drated orthe location o the Tourist Zone Rastovača which willenable investors to take active part in its creation and toimplement their own project regarding the hotel and thetourist village, pursuant to the valid urban developmentregulations.

Two alternatives or the project development (with lower

and maximum capacity) were taken into consideration orthe purpose o drating the Detailed Development Plan.The Project can be developed within the ollowing ranges:

Costructio of a hotel 4* with a capacity o 50 beds(version A), or up to 1,000 beds (version B),

Tourist village villas ith apartmets: constructionbetween 55 (version A) and 7 apartment buildings(version B),

Shoppig cetre with reception and shops coveringapprox. 1,00 m2.







Company name:

Address:

Ošljar Ltd.10 000 Zagreb, IX Bukovački ogranak 21

lIKa – senj county InforMatIon

contact

93

Lika-Senj County is the largest Croatian county (5,350 km2

or 9.5% o Croatia), with the city o Gospić as the seat. Most

o the County is located in the continental part o Croatia,

while the lower part is located at the coast. Lika-Senj County

is situated among Primorje – Gorski Kotar County in the

North-West, Karlovac County in the North, Zadar County

in the South and Bosnia and Herzegovina in the East. The

importance o the County is determined by close proximity

to three major economic centres in Croatia: Zagreb, Rijeka

and Split, but also Zadar and Karlovac, all o them very

well-connected through a net o motorways (A1, Istrian

motorway) and airports (Zagreb, Rijeka and Zadar) with the

Europe.

The economic structure o the County in terms o turnover

is characterized by the dominance o trade sector (.6%),

ollowed by manuacturing (14.6%), construction (11.%)

and tourism (10.5%). Known or its natural beauty which

comprises mosaic landscape with various natural attractions,

the tourist centre o the continental part o the County is the

Plitvice Lakes National Park, the backbone of the tourism

development. In addition to Plitvice, there are two other

national parks (Paklenica and North Velebit), and a nature

park called Velebit, with a signicant potential in the Gacka

Valley for a development of new tourism products in line with

global trends in tourism (hiking, trekking, bird watching).

The growth o tourism in the last decade was very strong.

The average annual growth rate o overnight stays in the

County since 000 has been 9.5% (The Republic o Croatia

5.1%), while the average annual growth rate o tourist arrivals

amounts to 11.4% (The Republic o Croatia 6.0%). In 011

oreign tourist arrivals and overnight stays in the County

amounted to more than 9% o total arrivals and overnightstays. The Plitvice Lakes National Park has around one million

visitors each year.

Regarding the quality o accommodation, the highest

number o beds is oered in three-star (6.7%) and two-

star hotels (4.%), so there is an urgent need to increase

investments in a construction o new, higher quality

accommodation acilities.

The development o tourism is particularly important since

tourism is the so-called “pulling trade” through which

the market or all accompanying economic activities is

expanded, especially agriculture and shing. The urther

investment in tourism development is one o the County’s

priorities, presented in the Tourism Master Plan or Karlovac

and Lika-Senj County.

Ošljar Ltd., Contact person: Maja Rendulić, e-mail: [email protected]











Wellness & HealtH center,Nin

Project descrIPtIon

The Project involves three components: accommodation

acilities, providing top quality wellness and tourist services

and utilization o attractive natural resources o the City o

Nin (medicinal peloid, climate, sea with beautiful sandy

beaches).

The City of Nin, the oldest Croatian royal town, is located 17

km northwest o Zadar and is in the vicinity o ascinating

national parks Kornati, Plitvice and Velebit, which makes it

a very attractive tourist destination. A town o ancient past,

it is ,000 years old and is among the oldest towns on the

Adriatic coast.

Nin is easily accessible from Zadar airport and has direct

connection to the main A1 Zagreb- Split Highway.

The concept o the Wellness & Health Centre is based on

a preventive, curative and wellness program, with sports

and tness acilities, and a possibility o providing services

or congresses and conerences. Designed or people

committed to improving and maintaining their health,

the project is ocused on a total well-being, and it aims

to provide personalized services considering individual

needs, thereore creating an attractive and high quality

tourism project.

Project status

Project Holder

estIMated Value

Project Holder is the limited liability company Rekreacijsko-turistički centar Nin, wholly owned by Tankerska plovidba Plc.,

the largest Croatian shipping company currently operating a feet o sixteen ships.

Pursuant to the investment schedule the investment value has been estimated at EUR 60 million.

Rekreacijsko-turistički centar Ltd. has been granted a right

to build a concession on a 14 ha lot by the City of Nin, for a

70 year period as o 1 December, 01.

The main design has been completed and a location permit

rom Zadar County competent authority has been granted.

The Environmental Study has been approved by the Ministry

o Environmental Protection and the relevant Resolution on

Acceptability issued.

The concept, main and detailed designs or Wellness and

Health Center access have been completed.





Zagreb



Company name:

Address:

Rekreacijsko-turistički centar Nin Ltd.23 232 Nin, Trg Hrvatskih branitelja 1


contacts

Planned accoMModatIon caPacItIes

95



Rekreacijsko-turistički centar Nin Ltd., e-mail: [email protected]

The adopted program scheme, in accordance with relevant

zoning plans, anticipates building o a tourist complex T,consisting o:

A FOUR STAR HOTEL, capacity 580 beds in 7 rooms(66 single and 07 double rooms) and 5 suites (17 junior,8 senior), with a congress centre capacity 00 persons, barsand restaurants, curative/rehab acilities, wellness/spa,outdoor/indoor pools and an underground garage capacity45 PGM,

VILLAS zone north o the hotel with a capacity o 148 beds

in 40 units (1 three-bed and 8 our-bed),

VILLAS zone south o the hotel with a capacity o 106 bedsin 8 units (6 three-bed and our-bed),

SPORTS FACILITIES with a catering establishment

including outdoor pools, children’s playground and two

beach volleyball grounds.










Zadar County is situated in northern Dalmatia in Croatia.

The County’s total area is 7,486.91 m2 o both sea and land.







in 011-01.The County’s economy is primarily based on crats, industry,












the capacities in hotels and camps are classied as a 4-starcategory. There are also 6 marinas with a total o 1,818

berths. As a successul tourist region in Dalmatia, Zadar

County recorded 6,770,05 overnight stays in 01. Most o







urther development and enrichment o the tourist oer o the County. The county is conveniently located near some







Group.



tecHnology Incubators

STeP Ri

Techology Park Varaži

Zagreb Etrepreeurship Icubator

97



stP ri

serVIces

tenants

The Science and Technology Park STeP Ri oers a perectenvironment or emerging companies, combining superbaccommodation with integrated business support services.STeP Ri oers o-site and on-site incubation services,education, R&D and innovation management, consultingas well as growth and go-to-market support. It is situatedwithin the new University Campus, in our buildings with

,000 m2 available space or oces and laboratories. Apartrom oering the basic business and incubation servicesSTeP Ri aims to become a regional leader recognisedas an innovative “think tank” where both start-upsand established major companies could get rst classinnovation management knowledge and global up-to-datebest practice training. The Science and Technology Park STeP Ri won the award or best supporting entrepreneurialinstitution - Technological Park in Croatia or year 01.

• Science and technology park managed incubator established by University of Rijeka in 2008.

• STeP Ri was partially funded (1.8 mil EUR) by the Business Innovation Agency of the Republic of Croatia (BICRO)

through Technology Inrastructure Development Programme ( TECHRO)

• 3,000 m2/55 oces /77 percent space occupancy rate

• International partner projects – EEN, FIDES, SLIM, Trans2care (MoU)

• Investment plan - development of new 60,000 m2 Science and Technology Park Step with nancial assistance

rom the European Union

1 tenants/ 6 employess

WhoAPI (example o tenant) is globally oriented submission o detailed inormation on more than 00 million domains.Examples o such inormation are: commitment, inormation about the owner o the domain registration and expirationdate, various data on a server that is located domains, value domains, report on the market and many other domainsinormation.

PRE - INCUBATION STAGE

Initial assessment o ideaTrainingBusiness plan

INCUBATION STAGE

Access to nance (early stage)Physical incubationLegal and administrativesupport

Mentoring and coachingAccess to undingNetworking

stP rI - unIVersIty of rIjeKa Science and Technology Park





Technology incubators and parks assist technology-oriented entrepreneurs in the start-up and early development stageo their rms by providing workspace, shared acilities and a range o business support services. Particularly important orearly development stage rms is the availability o sources o business nancing, especially orms o equity and semi-equitycapital that is crucial or urther development. The intention o this Catalogue is to present technology incubators and parksas a source o investment projects (start-up rms) or business angels and venture capital unds.



tecHnology ParK VaraŽdIn l.Incubation center for innovative startup companies

tecHnology ParK VaraŽdIn l.

serVIces

tenants

Technology park Varaždin Ltd. (TPV) is a company that managesan incubation centre or innovative start-up companies,oers training or improvement o existing technologicallyinnovative companies, transer o knowledge rom universitiesand development centres into the economy, networkingbetween companies, education institutions, developmentagencies and innovative individuals. The Technology Park

Varaždin Ltd. won the award for best Technological Park inCroatia or year 009.




44 TEnAnTS/ 230 EMPLOYEES

Evolva (example o tenant) is a sotware company engaged in developing custom made business web applications andadvanced Java web technologies or the application development. Customers use Evolva business solutions and development

technology Evolution Framework to save time and money, and to simpliy and automate their business processes. EvolutionFramework is a Java web ramework or the development o modern business web applications. It is a set o advancedvisual tools or design, development, deployment and monitoring o business web applications which include eatures suchas document and workfow management, reporting, etc. Evolva mission is to acilitate the implementation o our client’sbusiness objectives by using advanced inormation technologies and capabilities o the web architecture.

INCUBATION STAGE



99

Owners are The City of Varaždin, Faculty of organization andinformatics and University of Applies Sciences in Varaždin

TPV was partially funded (0.75 mil EUR) by the BusinessInnovation Agency o the Republic o Croatia (BICRO)through Technology Inrastructure DevelopmentProgramme (TECHRO)

TPV is a member of International Association of ScienceParks and Areas o Innovation IASP

International partner projects – EEN, YICT, FIDES, INTERINO,SOCPOD, DANUBE PIE

Investment plan - development o a new 5,000 m2 acilitywith nancial assistance rom the Ministry o science,education and sports and Ministry o Regional Developmentand EU Funds

•

•

•

•

•







•

•

•

•

•

serVIces

tenants


Zagreb entrepreneurship incubator (ZIP) is the rst privately undedtechnology startup incubator with the goal o helping aspiringentrepreneurs rom the region o South-eastern Europe to developtheir companies. At ZIP they are provided with the key resourcesnecessary to develop their products. Entrepreneurs are givenaccess to a strong, international network o mentors who advisethem on how to set up their business model and gain access to the

global market. Members o ZIP advisory board are mentors rominternational accelerators, like Dave McClure, Sith Lord, 500Startups(Silicon Valley), Carlos Eduardo Espinal, Partner, Seedcamp (London),Stefan Glaenzer, Partner, Passion Capital / White Bear Yard (London),Nenad Marovac, Managing partner, DN Capital (London), AnttiYlimutka, Captain, StartupSauna (Aalto, Finland), Jon Bradford.ZIP has established a strategic cooperation with the University o Zagreb and some o the largest private companies in Croatia as wellas the Croatian Business Angel Network - Crane.



PORTFOLIO OF CURREnT PROJECTS

INCUBATION STAGE



zagreb entrePreneursHIP IncubatorTechnology Startup Incubator

zIP

First privately unded technology startup incubator in Croatia

Currently ocused on pre-incubation process through + monthsprogram

Strong international and domestic network o mentors

Connecting teams with science community and leadingcompanies in Croatia

Connecting graduated teams with investors, media and publicthrough demo day, organized conerences and visits to UK/USA

DISCLAIMER: Information contained in this document has been provided by Agency for Investments and Competitiveness of the Republic of Croatia. Purpose of this document is to give short information about companies and /or posibilities to


DISCLAIMER: Information contained in this document has been provided by Croatian Agency for SMEs and Investments. Purpose of this document is to give short inormationabout companies and/or investment possibilities to potential investors. The prole is for information purposes only. No responsibility or liability is accepted for the information in this document.




Incentive measures or investment projects in the Republic o Croatia are regulated by the Act on Investment Promotion andEnhancement of the Investment Environment (OG, No. 111/12 and 28/13) and pertain to investment projects in:

• manuacturing and processing activities,• development and innovation activities,• business support activities,• high added value services.

Incentive measures are:

• Incentives or microenterprises• Tax advantages• Tari preerences• Incentives or eligible costs o new jobs linked to the investment project• Incentives or eligible costs o training linked to the investment project

• Incentive measures or:- development and innovation activities and- business support activities andhigh added value services

• Incentive measures or capital costs o the investment project and• Incentive measures or labour intensive investment projects

Incentive measures can be used by enterprises registered in the Republic o Croatia investing in xed assets the minimumamount o:

• € 50,000 together with creating at least new jobs or microenterprises• € 150,000 together with creating at least 5 new jobs or small, medium and large enterprises.

Classication o enterprises is done in accordance with the Small Business Development Promotion Act (OG 9/0, 6/07,5/1).

The amount o aid shall be calculated as a percentage o investment value, which is determined on the basis o eligibleinvestment cost. Eligible investment costs are:

• tangible (value o real estate/buildings and plant/machinery) and intangible assets (patent rights, licences, know-how),or• gross wage calculated over a period o two years.

The minimum period or maintaining the investment and newly created jobs linked to an investment is ve years or largeenterprises, and three years or small and medium-sized enterprises, but no less than the period o use o the incentivemeasures.

IncentIVe Measures forInVestMent Projects

Enterprise category*

Large

Medium

Small

Micro

Investment amount (€ mill.)

<1

1->

Number of employees and

≥ 50

< 50

< 50

< 10

Number of newly employed

5 ( or micro)

1015

Annual turnover or

> 50 million €

≤ 50 million €

≤ 10 million €

≤ million €

Period (years)

10 (5 or micro)

1010

Annual balance sheet

> 4 million €

≤ 4 million €

≤ 10 million €

≤ million €

Period o employment (years)

(SME), 5 (large)

(SME), 5 (large) (SME), 5 (large)

Prot tax rate*

10%

5%0%

* when classifying enterprises one should also consider aliated enterprises, as dened by the General Tax Act (OG, No. 147/08, 18/11 and 78/12) and the

Decision on the publication of the General Block Exemption Regulation regarding State Aid (OG, No. 37/09)

* Standard corporate prot tax rate is 0%



developmet a iovatio activities include activities that aect the improvement and modernization o the product,production series, processes and manuacturing technologies.

Busiess support services:• Customers / Clients contact centres: all types o call-centres, multi-media contact centres and other types o customer/

client contact centres ocused on technical support and problem solving or customers/clients.• Centres or Outsourced Business Activities ocused on outsourcing and pooling o business activities, such as: nance,

accounting, marketing, product design, audio-visual activity, development o human resources and IT services. Centreso selected business activities: ocus on separation and concentration o business activities such as nance, accounting,marketing, product design, audio-visual industry, the development o human resources and inormation technology.

• Logistics and Distribution Centres focused on establishing and constructing high-technology logistics and distributioncentres providing; intermodal transportation o goods, warehousing, packaging and handling o goods in order tosignicantly improve logistics and distribution activities within the business process and delivery o goods.

• ICT System and Sotware Development Centres: development and application o inormation systems, outsourcing o

IT management operating systems, development o telecommunications network operation centres and developmentand application o new sotware solutions.

Employmet Icetives

County UnemploymentRate

Incentive Rate in Relationto Eligible Costs o Opening

New Workplaces*

10% (max. ,000 €) oremploying groups o personscovered by Article 11.paragraph . o Regulation*

4% (max. 1,00 €) oremploying other groups o

persons

0% (max. 6,000 €) oremploying groups o personscovered by Article 11.

paragraph . o Regulation*

8% (max. ,400 €) oremploying other groups o

persons

0% (max. 9,000 €) oremploying groups o personscovered by Article 11.paragraph . o Regulation*

1% (max. ,600 €) oremploying other groups o

persons

Increase or TechnologyInnovation and

Development Centres

Increase or BusinessSupport Strategic

Activities and High AddedValue Investment Activities

Incentives or innovationand development activities

* Article 11 paragraph o the Regulation on Investment Promotion and Enhancement o the Investment Environment (OG, 40/1) provides incentives orhiring an unemployed person who was, beore the conclusion o the employment contract reported as unemployed at the Croatian Employment Service or

at least three months; or or hiring rst-time employees, i they have no qualications, or who are qualied or auxiliary or vocational occupations, without

being registered as unemployed, and who are up to 5 years o age; or or hiring rst-time employees who have acquired secondary, graduate or post-

graduate degree, and are up to 9 years o age, and are not registered as unemployed at the Croatian Employment Service; or or hiring a person under 9

years o age who was registered in the Register o unemployed persons o the Croatian Employment Service within 90 days o graduation, the acquisition

o title / occupation at the end o regular high school education or or those without vocation at the end o primary education; or or hiring a person whose

employment contract was cancelled due to the opening o bankruptcy proceedings.

<10%

10-0%

>0%

+50% (1,500 €)

+50% (600 €)

+50% (,000 €)

+50% (1,00 €)

+50% (4,500 €)

+50 % (1,800 €)

+5% (750 €)

+5% (00 €)

+5% (1,500 €)

+5% (600 €)

+5% (,50 €)

+5% (900 €)

0% o the eligible cost o buying the equipment/machinery (up to € 0.5million) All the equipment/machinery has to be high

technology

105



High Ae Value Ivestmet Activities:

• Creative service activities: activities in the eld o architecture, design, dierent orms o media communication,advertising, publishing, culture, creative industry and other activities in the eld o ne arts.

• Tourism service activities: activities in the eld o high added value services in tourism, such as accommodation projectshotel, apart-hotel, tourist resorts categorised as our- or more stars, tourist apartments within tourist resorts categorisedas our- or more stars, camps categorised as our- or more stars, heritage hotels, other types o accommodation acilitiesas a result o renovation o cultural and historical structures, supporting services, health tourism, congress tourism,

nautical tourism, cultural tourism, entertainment and/or recreation centres and parks, ecological tourism projects.• Management, consulting, education services,• Industrial engineering services.

For investment in development and innovation activities, a non-repayable grant shall be approved or the purchase o plant/machinery amounting to 0% o the actual eligible costs or purchasing plant/machinery, in the maximum amount o EUR500,000 in equivalent HRK value, provided that the purchased plant/machinery represents high technology equipment.

Icetives for eucatio a traiig

The eligible costs or the purpose o training may include sta trainer costs, trainers’ and trainees’ travel expenses, depreciationo tools and equipment, to the extent that they are used or the training project, as well as trainees’ costs up to the amounto the total o the above reerred eligible costs. Only the hours during which the trainees actually participate in the training,

ater deduction o any productive hours or o their equivalent, shall be taken into account.

Large enterprises

Medium enterprises

Small enterprises

County Unemployment Rate Incentives or Capital Expenses

Cash grant in amount o 10% o the eligible costs o investments or:• construction o the new actory, production acility or tourist acility,• buying o new machines, i.e. production equipment,

(max amount up to 0.5 million EUR with the condition that the part o investment

in the machines / equipment equals at least 40% o the investment and that at least50% o those machines/equipment are o high technology)

Cash grant in amount o 0% o the eligible costs o investments or:• construction o the new actory, production acility or tourist acility,• buying o new machines, i.e. production equipment,

(max amount up to 1 million EUR with the condition that the part o investment inthe machines / equipment equals at least 40% o the investment and that at least

50% o those machines/equipment are o high technology)

General training

up to 60%

up to 70%

up to 80%

Specic training

up to 5%

up to 5%

up to 45%

In cases where aid projects involve both specic and general training components which cannot be separated or thecalculation o the aid intensity, and in cases where the specic or general character o the training aid project cannot beestablished and separated, the maximum aid intensities applicable to specic training shall apply.

Amount o incentives, along with incentives or investment, i.e. employment incentives, cannot exceed more than 50% o the eligible investment costs.

Icetive measures for the capital costs of the ivestmet project

Eligibility: over € 5 million and more than 50 new jobs

10-0%

>0%



Icetive measures for labouritesive ivestmet projects

Number of newly created jobs

100 and higher

00 and higher

500 and higher

Increase o Support or creating new jobs

5%

50%

100%

According to the procedure or applying or incentive measures under the Act on Investment Promotion and Enhancemento the Investment Environment an enterprise intending to acquire the status o a beneciary o incentive measures mustle an Application or the use o incentives using the prescribed orms either to the Ministry o Economy i it alls under thecategory o a large enterprise or to the Ministry o Entrepreneurship and Crats i it alls under the categories o micro-, smallor medium enterprise beore the beginning o the investment.

107

katalog investicija

Documents