KETTERING, U.K. (Sept. 18, 2014) – Orascom Development Holdings AG, a leading developer of fully-integrated resort towns, has signed an agreement affiliating Luštica Bay, a leading resort in Montenegro, with The Registry Collection. This agreement creates a new destination option for members of The Registry Collection, which is already the world’s largest luxury exchange program.
Perfectly located along the Adriatic Coast, Luštica Bay provides visitors, homeowners and hotel guests with access to one of the world’s outstanding natural and historic settings. An emerging destination waiting to be discovered, Luštica Bay’s 690 hectares are being transformed to operate a sustainable tourism model in partnership with the Government of Montenegro.
On completion of the first phase, LušticaBay will feature a range of high-specification real estate comprising more than 300 apartments from studios to three-bedroom penthouses as well as 14 town houses and four bespoke villas. Many upscale amenities will complement the development at completion of the initial development phase, including a 176-berth marina, a 300-key marina hotel, a boutique hotel, a range of fine dining restaurants, relaxed cafés and boutique shops, all sitting alongside an 18-hole Championship Gary Player golf course.
"We pride ourselves on building real estate of the highest quality and offering our homeowners an unparalleled lifestyle to set our product apart from our competition within the luxury overseas home market," said Ihab Kamel, CEO, Luštica Bay. "Providing a membership to The Registry Collection, with its many lifestyle benefits, greatly strengthens the appeal of our offering to our international clients. Additionally, the flexibility that comes with being a member of The Registry Collection will enable our owners to get even greater value from their purchase.”
Through affiliation with The Registry Collection, buyers at Luštica Bay can choose to exchange unused time in their properties for holidays in a selection of approximately 200 luxury resorts within the luxury leisure property network.
“We are delighted to welcome Orascom’s LušticaBay resort into our luxury exchange program, as it will deliver on all counts," said Matt Holmes, new business development manager for The Registry Collection in Europe. "The resort’s individual residences are built to a high-quality specification and are quite unique, having the advantage of being integrated into a resort town infrastructure designed as a leisure playground. We know our members will love travelling to the resort, which is in one of the world’s most beautiful but lesser known holiday destinations. We are confident that Luštica Bay owners will also be equally delighted with the quality and choice of accommodations now accessible to them.
“We want to offer support to Orascom by helping drive sales within their resorts, as well as increasing owner satisfaction by making some amazing alternative holiday options available to their owners," Holmes continued. "An additional perk of membership with The Registry Collection is that these owners can enjoy the exchange and lifestyle benefits of the programme even before they get the keys to their own properties. This creates the ultimate incentive for their purchase during the construction phase.”
About The Registry Collection programme
The Registry Collection program is the world’s largest luxury exchange program, with approximately 200 affiliated properties available through The Registry Collection program that are either accessible for exchange or under development. From condo hotels and high-end fractional resorts to private residence clubs and fractional yachts, The Registry Collection program provides members with access to an elite network of the finest vacation properties at some of the world’s premier destinations, as well as personal travel concierge services that are available 24 hours a day. The Registry Collection program is offered by RCI, the worldwide leader in vacation exchange and part of the Wyndham Worldwide family of brands (NYSE: WYN). For additional information visit our media center or theregistrycollection.com. You can also find The Registry Collection on Facebook.
About Orascom Development Holding
Orascom Development Holding AG (Orascom Development) is a leading developer of fully-integrated towns offering hotels, private villas and apartments, leisure facilities and supporting infrastructure. The Group is present in nine countries, including Egypt, Jordan, the United Arab Emirates, Oman, Switzerland, Morocco, Montenegro, the UK and Romania. Currently, the group manages six operating destinations: El Gouna, the flagship project on the Red Sea Coast in Egypt; Taba Heights in the Sinai Peninsula in Egypt; The Cove in Ras Al Khaimah in the UAE; Haram City, a budget housing town on the outskirts of Cairo; Jebel Sifah as well as Salalah Beach, Oman. The group has eight destinations under development, including Amoun Island, Fayoum, Makadi and Qena Gardens in Egypt, As Sodah Island in Oman, Andermatt in Switzerland, Chbika in Morocco and Luštica Development in Montenegro. The group operates a total of 29 hotels with 6,654 rooms and controls a land bank of approximately 105.8 million square meters.
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