The-Larun-Golf-Project-Brochure.Pdf

Urbanis ca d.o.o. Zagreb for Urban Planning and Consul ng www.urbanis ca.hr

Dipl. Ing. DIETHARD FAHRENLEITNER Technical Oﬃ ce Environmental Protec on- Environmental Design-

Urban Planning PROJECT: LARUN GOLF & YACHT RESORT www.golfplatzplanung.at

A.B.C.D. d.o.o. Poreč for Consul ng and Project Management www.abcd.hr

KAPPO* STUDIO ZA KRAJOBRAZNU ARHITEKTURU, PROSTORNO PLANIRANJE, OKOLIŠ d.o.o. Rovinj for Landscape Architecture, Urban Planning, Environ- ment www.studio-kappo.com

AAVA savjetovanje d.o.o. [email protected] PROJECT: LARUN GOLF & YACHT RESORT LARUN GOLF & YACHT PROJECT: University in Zagreb GEOTECHNICAL FACULTY www.gfv.hr

Geodil d.o.o. Engineering, Geodesy and Transport [email protected]

Studio Tičić d.o.o. Brand Consul ng www.studio- cic.com

Histria Fecunda d.o.o. Istarskog razvoda 7 52440 Poreč - HR Tel:+385.052.433.370 Tel./fax:+385.052.453.569 e-mail: [email protected]

M. CHANAAN d.o.o. Poreč Business Management Consul ng e-mail: [email protected] Contents · Introduction · Development concept · Development timeline · Demand forecast · Current project status LARUN GOLF AND YACHT RESORT-INTRODUCTION

Vision Introduction 3

To become the leading high end boutique The proposed development concept, known as · A 5-star hotel with extensive spa and wellness Larun Golf & Yacht Resort, is located in Croa- - meeti ng faciliti es resort of the Adriatic: a place to retreat, ti a on the western coast of the Istrian Peninsula. · Residenti al villas dine and enjoy active relaxation and The resort has the disti nct opportunity to be- · An 18-hole championship golf course providing a growing capital appreciation come one of the ﬁ rst integrated resorts in Croati a, · Berths with a promenade including restaurants opportunity to its residents comprising the following four main components: and entertainment faciliti es Strategic Location LARUN GOLF AND YACHT RESORT-INTRODUCTION

The site is located in Croati a, on the western coast Vienna, and an esti mated populati on of 120 of Istrian Peninsula. million people in the direct catchment area, The strategic locati on of Larun allows easy access by · by water, with the Internati onal ports in Pula road (“Istrian Y” motorway), air (Pula Internati onal and Rijeka (e.g. Venice is just at 2 and a half Airport) and water (Internati onal ports in Pula and hour distance), Rijeka): · by air: Pula Internati onal Air port is the nearest airport (located at just 30 minutes 600km · by road: within short driving distance from drive) and 7 other airports within 2 and half the main Central European citi es, within hour driving distance. approximately 600 km from Munich, Milan and Aerial view of the site

· Peaceful and natural environment · Sea views from every point of the site

· Good exposition to sun LARUN GOLF AND YACHT RESORT-INTRODUCTION · Several km of unspoiled beach · Good accessibility

About Istria and the Golf Course 7

As the westernmost County of the Republic of Croa- and easily recognizable green macchia. With a green of inland and coastal, with recipes rich in excellent Regarding its locati on and the view, Tar – Vabriga ti a, Istria borders Slovenia and has a mariti me bor- countryside of vine and olive groves, mediaeval vil- ﬁ sh and seafood. The excellent Istrian wines include area is very att racti ve for constructi on. Many villa der with Italy. The peninsula is considered the larg- lages and a multi tude of charming ports towns, Is- Malvasia of Buje, Cabernet of Porec, Sauvignon and owners are foreign citi zens so many villas’ complex- est green oasis of the Northern Adriati c and one of tria has at ti mes been called the “land of truﬀ eles, Merlot, as well as Teran of Motovun. es are built in that area. It is 8 km away from Poreč, the most popular desti nati ons for foreign visitors to wine and song”. Golf is located near Tar, Poreč and Novigrad. It is 6 km from Novigrad. The nearest airport for small Croati a. Istria has a mild, Mediterranean climate (warm and situated on a small hilltop with a great view to the planes is 21 km away in Vrsar, and the internati onal The spectacular shoreline has numerous bays, is- dry summers, mild and pleasant winters) with plen- sea starti ng from Vrsar up to Umag. The climate is Pula airport is approx. 60 km away. The highway is 5 lands, pebble and rocky beaches. Summer sea tem- ty of clear days throughout the summer with a daily favourable, as well as the ferti le land, and numerous km away from Tar – Vabriga. peratures in Istria range from 23-27° Celsius. The average of 10 hours of sun. The cuisine of Istria rep- vineyards and olive grows. Tar – Vabriga is a small coast and the island are covered with pinewoods resents a special Croati an style of cooking, a blend municipality with all the parti culariti es of a small Is- trian village. LARUN - the golf destination LARUN GOLF AND YACHT RESORT-INTRODUCTION

Larun Golf Accompanying Report 9

Introducti on The project · The Larun area, foreseen for the constructi on of olive oil. The olive groves are extended over huge residenti al and producti ve sett lement of great The above menti oned elements surely infl uence a golf course, is characterized by two parti cular approximately 180.000 sqm prevalently in the historical and cultural importance. the general formulati on of the project, which has to and important peculiariti es: the presence of vast northern part of the same promontory. The total area seems to extend over approximately take into account the maximum extent of the con- areas under olive groves and the presence of an · Diff erently, the archaeological area is spread 15.000 sqm. Both peculiariti es have to be preserved, structi on area, defi ned by the Zoning plan. archaeological site original from roman ti mes. prevalently over the south-western and the including the natural environment, miraculously The project has to show that this kind of high quality · According to the experts of the FAO, in this north-western coastal area. The area is subject preserved ti ll today. tourism could be harmonized with the preservati on ferti le promontory are culti vated the olives to excavati ons since long ago, but only recently of the existi ng archaeological heritage and with the from which is produced the Europe’s best the archaeologists realized that it is about a protecti on of the natural environment. LARUN GOLF AND YACHT RESORT-INTRODUCTION

Larun Golf Accompanying Report 11

The golf course ··The general formulati on of the project founds its All the fairways shown in the att ached outline have most spectacular one from the scenic point of view, · The hole 10 starts towards south and the fairway is origin in the positi oning of the area foreseen for the to be more precisely defi ned from the project point immersed in between the olive trees and turned to- all spread within the southern area, to return with constructi on of the Club House; it’s kind of gravity of view by means of detailed analysis in the fi eld. wards the sea. the hole 18 ti ll near the Club House. The nine holes area of the whole extension, located in its fi nal part The fi rst nine holes are spread northern of the larg- · From a total of about 4.700 olive trees, only 320 of the Practi ce Course and of the Academy are al- western to the ancient roman penetrati on road, the est olive grove; in parti cular the hole number 1 is shall have to be removed to make space for the hole ways starti ng from the Club House, to go towards decumanus, probably a remain of the ancient cen- located in between the eastern olive grove and the number nine; some of these shall be transplanted east, over the eastern olive grove, and southern turiati on and just outside the olive groves. western one, having just few trees; the other holes within the same olive grove to replace the missing of the Driving Range. The foreseen lakes along the · On the western area, which is practi cally a meadow, do not touch the olive groves, except for the hole trees, and the others shall be transplanted within course are positi oned in such way to be used for is foreseen the Driving Range and nearby the Pitch- number nine that cuts it diagonally. That hole shall the southern residenti al area as garden decora- rainwater harvesti ng and storage, as to be able to ing Green and the Putti ng Green. become the symbol of the enti re golf course; the ti ons. improve the sweet water availability for irrigati on; LARUN GOLF AND YACHT RESORT-INTRODUCTION

Teritory of the Larun Golf Project

The constructi on area The archaeological park · The extent of the costructi on area is positi oned in · a large residenti al area within the central part of the ··The whole western area shall be comprised within This could also be extended to the sea and by means the central-eastern part of the total area. extent; the interventi on and, owing to the fact that this is of an equipped diving centre on site; · The general plan foresees a maximum possible · a smaller residenti al area northern of the penetra- one of the Adriati c’s largest roman sites, there could · There’ll be possible to bring enthusiasts to visit the accommodati on of up to 1.200 beds. The project ti on axis. be developed an Archaeological park with faciliti es adjacent tanks of the Kupanja fi sh farm; distributes those beds into three separate areas: In between the area allocated for hotel and the resi- dedicated for the representati on of the fi ndings, but · Seems that the submersed structure covers a sur- · a hotel area at the northern border of the con- denti al area there’ll be an area dedicated to sports also of the ancient olive oil and amphorae’s produc- face of 2.500 sqm, which diff erenti ate it as the larg- structi on area, adjacent to the Club House, which faciliti es. ti on. est one known. potenti ally could reach about 300 beds; LARUN GOLF AND YACHT RESORT-INTRODUCTION

Republic of Croati a Republic of Croati a / private Municipality / Tar- Private Vabriga Municipality / Tar-Vabriga Private/Tar-Vabriga / Republic of Croati a Excerpt from the cartographic representati on: Ad 1) Use and intended Purpose of the areas, Unresolved Church Physical plan of the Istrian Region Ownership

Histria Fecunda Histria Fecunda / Municipality Tar-Vabriga INTENDED SPORTS-RECREATION PURPOSE Histria Fecunda / Republic of Croati a (Accommodati on within the Golf Course-Tgs) Republic of Croati a INTENDED SPORTS-RECREATION PURPOSE (Golf course-R1, Multi use center-R6, Firing range-R8) OLIVE GROVE WITHIN THE GOLF COURSE Property of Histria Fecunda d.o.o. Physical plan of the Municipality - Excerpt from the cartographic representati on: Ad 4) Building areas Strategic Location LARUN GOLF AND YACHT RESORT-INTRODUCTION

Ownership Size (sqm) Zoning

Public ownership Approx. 110.000 Private ownership Approx. 30.000 LARUN GOLF COURSE – LODGING AREA Total Approx. 140.000

TAR – VABRIGA Municipality Public ownership Approx. 1.070.000 Private ownership Approx. 190.000 GOLF COURSE AREA Total Approx. 1.260.000

Total land area Approx. 1.300.000 Development Concept LARUN GOLF AND YACHT RESORT-DEVELOPMENT CONCEPT

· Five-star deluxe bouti que hotel with approx. 150 an established internati onal spa operator focusing rooms, with several units built as suites detached on the new wave of health and beauty treatments from the main building, multi ple restaurants and and therapies like thalassotherapy or ayurvedic functi on/banquet rooms treatments; ··Exclusive high end luxury villas on spacious land Berths with a promenade including restaurants and plots; entertainment faciliti es. · A 3.000 sqm spa and wellness center operated by Golf Project LARUN GOLF AND YACHT RESORT-DEVELOPMENT CONCEPT

Larun Golf (Metric) Scorecard yellow yellow blue red orange Hole Pair Gentleman Gentleman Gentleman Ladies Ladies Strokes 1 5 500 480 470 470 390 8 2 4 360 340 320 320 280 10 3 4 420 400 380 380 340 2 4 4 380 360 340 340 300 4 5 5 480 470 460 460 500 16 6 3 200 180 160 160 130 12 7 4 340 325 300 300 255 18 8 3 160 150 140 140 110 14 9 4 380 360 340 340 300 6 1-9 36 3220 3065 2910 2910 2505 10 5 520 500 470 470 420 5 11 5 510 490 470 470 400 9 12 4 330 320 310 310 280 17 13 4 370 350 330 330 280 11 14 4 420 400 380 380 330 1 15 4 410 390 370 370 320 3 16 4 360 340 330 330 290 13 17 4 390 370 350 350 310 7 18 3 170 160 140 140 110 15 10-18 37 3480 3320 3150 3150 2740 1-18 73 6700 6385 6060 6060 5245 LARUN GOLF AND YACHT RESORT-DEVELOPMENT CONCEPT

Residential estates Hotel Golf Course Berths 23

Brief descripti on: Brief descripti on: Brief descripti on: Brief descripti on: · 5 star luxury hotel managed by an internati onal · apartments (parking bay, common pools, common operator · Signature golf course (Fahrenlaitner) · Berths (in water) garden) · 120 guest rooms · 18 holes · Mariti me border crossing · villas (garage, large pool, large garden) · 30 serviced golf apartments · 2 Driving ranges · Gas, uti liti es and laundry services · Extensive indoor and outdoor spa and wellness · Putti ng green area · Charter services & brokerage faciliti es (3,000 sqm) · Clubhouse with restaurant, bar and other · Multi ple restaurants and bars supporti ng faciliti es · Meeti ng faciliti es and conference rooms BERTHS GOLF RESIDENTIAL ESTATE HOTEL Timeline Development 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Planning Planning Planning Planning Cons Construction Construction Construction Sales truction Operating Income-Berths Operating Income-Hotel Operating Income -Golf

LARUN GOLF AND YACHT RESORT-DEVELOPMENT TIMELINE 25 Demand forecast Hotel performance

Busines mix (in 5th year) · Other Albarela Island · Meeti ngs and incenti ves 5% · Westi n La Quinta 11% · Porto Caras · Sotogrande Golfer 11% Tivoli Marinhotel Wellness 41% Vila Sol Hotel Aphrodite's Hill·

Leisure 32% Francourt S.Africa Selection criteria: LARUN GOLF AND YACHT RESORT-DEMAND FORECAST Location (Mediterranean) Seasonality 10,000 4-5 star hotels 8,000 Opti on to close (international brand) the hotel for 6,000 30-60 days 4,000 Golf course on site or in proximity during Dec/Jan

Roomnights 2,000 Spa and wellness and conference 0 center availability Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Real estate exclusive high end luxury Golfer Leisure Wellness+MIC+Other Total villas on spacious land plots Berths

Resort benchmarks 27

Hotel performance · Hotels: 150 rooms; published room rates EUR 120- Demand forecast - Main assumpti ons 250; spa around 3,000 sqm; conference faciliti es for 300-500 delegates Based on: · Hotel performance: average occupancy rates be- Proposed concept and positi oning 45 45 49 54 61 65 67 67 67 tween 60-65%; average achieved room rates esti - Market analysis and internati onal benchmark % % % % % % % % % mated between 60-65% of the rack rate Expected development of tourism demand in Istria · Real estate: price range EUR 2,500-5,000 per sqm according to type of Resort benchmarks property We have established the following assumpti ons: (villa, apartment, etc), quality of faciliti es oﬀ ered · The hotel operati on will stabilize in the ﬁ ft h year 2016 2017 2018 2019 2020 2021 2022 2023 2024 (size of garden, pool, view), branding and locati on · The Istrian golf development strategy will be · Main target markets: Great Britain, Italy, Austria, realized (12 courses by 2020) Average room rates (excluding VAT and breakfast) Germany and Domesti c. Others emerging: Scandi- 250 250 263 276 289 EUR navian, Russia, Poland, Slovenia 2016 2017 2018 2019 2020 Year Demand forecast – Residential units Demand forecast – Golf

600 520 488 456 500 424 384 400 337 283 300 223 179 200 122 LARUN GOLF AND YACHT RESORT-DEMAND FORECAST 100

0 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

Membership

Type of membership Membership

Resident golf ti tle 60.000 (Golf Larun property owner)

Annual subscripti on 2.500

Green Fees 30,000 Main target markets – class A second home buyers Selling methods: 30,300 rounds in the 10th year from: 25,000 · Primary markets: Germany, Great Britain, Italy, sales oﬃ ces in the target countries, agreement with Stabilizati on of hotel operati on Austria/Switzerland, Scandic countries and Russia real estate agencies, complimentary units to inter- 20,000 · Secondary markets: Domesti c and CEE, BeNeLux nati onal celebriti es, organizati on of large events on and France site, M. Chanaan network, Hotel network 15,000 Average green-fee esti mated 10,000 around EUR 125 in the ﬁ rst year

5,000

0 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 LARUN GOLF AND YACHT RESORT-CURRENT PROJECT STATUS

Current project status Overview of works performed 31

Infrastructure · Market & fi nancial feasibility study and Business · Resort master plan fi nalized · Electricity: middle-tension and low-tension supply · Surveying: layout survey for design requirements, Plan to be prepared by M. Chanaan co. · Initi al concept design and schemati c design under network constructed preparati on of geodeti c studies for purpose of cor- · Development costs confi rmed by M. Chanaan co. preparati on · Roads: preliminary constructi on works on the ac- recti on of actual surface areas, route staking out for · Financing of the development provided · Berths schemati c design completed cess roads as well as modernizati on and asphalti ng roads · Selected golf course architects – URBANISTICA co. · Urban Zoning Plan (UPU) under preparati on of the road deck (3km). Relocati on of the existi ng · Geotechnical reports: exploratory, laboratory, geo- (Masterplan development), Fahrenlaitner (Golf · Building permits to be fi nalized within 3-6 roads in line with the design documentati on physical, engineering geologic and geotechnical design) - planning documents and Current project months aft er submission of the UPU by the local · Water Supply network: preliminaries, earthworks works is in course status drawings received authoriti es and assembly work on the reconstructi on and de- · Archaeological sites: reconnaissance under expert velopment of the pipeline and water supply net- supervision of the Archaeological museum of Istria work and constructi on of the water reservoir from Pula and project of conservati on of archaeological fi ndings under preparati on Urbanisti ca d.o.o. Zagreb for Urban Planning and Consulti ng www.urbanisti ca.hr

Dipl. Ing. DIETHARD FAHRENLEITNER Technical Oﬃ ce Environmental Protecti on- Environmental Design-

Urban Planning PROJECT: LARUN GOLF & YACHT RESORT www.golfplatzplanung.at

A.B.C.D. d.o.o. Poreč for Consulti ng and Project Management www.abcd.hr

KAPPO* STUDIO ZA KRAJOBRAZNU ARHITEKTURU, PROSTORNO PLANIRANJE, OKOLIŠ d.o.o. Rovinj for Landscape Architecture, Urban Planning, Environ- ment www.studio-kappo.com

AAVA savjetovanje d.o.o. [email protected] PROJECT: LARUN GOLF & YACHT RESORT LARUN GOLF & YACHT PROJECT: University in Zagreb GEOTECHNICAL FACULTY www.gfv.hr

Geodil d.o.o. Engineering, Geodesy and Transport [email protected]

Studio Tičić d.o.o. Brand Consulti ng www.studio-ti cic.com

Histria Fecunda d.o.o. Istarskog razvoda 7 52440 Poreč - HR Tel:+385.052.433.370 Tel./fax:+385.052.453.569 e-mail: [email protected]

M. CHANAAN d.o.o. Poreč Business Management Consulti ng e-mail: [email protected]

BUSINESS CONSULTING

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