3. Croatia – Facts & Figures
Geographical position:
Croatia extends from the furthest eastern edges of the Alps in the north-west to the
Pannonian lowlands and the banks of the Danube in the east; its central region is
covered by the Dinara mountain range, and its southern parts extend to the coast
of the Adriatic Sea.
Surface:
the mainland covers 56,594 km2; surface area of territorial waters totals 31,067
km2.
Population:
4,437,460 inhabitants.
System of government:
Multi-party parliamentary republic.
Capital:
Zagreb (779,145 inhabitants), the economic, traffic, cultural and academic centre
of the country.
Coastline:
5,835.3 km, of which 4,058 km comprise the coastlines of islands, solitary rocks
and reefs. Number of islands, solitary rocks and reefs: 1,185; the largest islands
are Cres and Krk; there are 47 inhabited islands.
7. THERMAE HORTUS
CROATIAE
Location: The location of the project Thermae Hortus Croatie is property of the company AAT
d.o.o., that is owned by the Hosting group and their financial partners. The property is situated in the
Medjimurje region, in Northwest of Croatia, in the Municipality Prelog and the Draskovec settlement, in
close vicinity of the highway Zagreb-Varazdin-Budapest. Location is situated near the river Drava and
its lake which allows the water sports and fantastic fishermen area.The capital Zagreb (airport) is only
1 hour pleasant drive away. The location is in the car drive vicinity away from the markets of Austria,
Hungary, Italy, Slovenia, Southern Germany and nearest eastern European countries that form the
most important European Spa market.
Plot size: 48,1 ha of empty&flat land.
Plot surface: flat
surface
Land status: empty, on ownership base, the owners are holding the land free of obligations.
Zoning: the land plot that is included in the property of the company AAT d.o.o. already in this
condition is planed in the Urban Plan of the Municipality Prelog for developing and construction of
tourist objects („T1“ and „T2“), In progress of adoption there is a new Municipality Urban Plan and a
Detail Urban Plan which will allow construction of residential villas and apartments. The Project is
highly supported by local, regional and national political and opinion leaders.
Important facts: The site contains a thermal water well Draskovec-1 ( 1.800 m debth, 750C –
from 10 to 30 litre per second) with high quality medical treatment values and energy potentials
as well as a well of a gas which can be used for energy purposes. On location there is a research
well for drinking water well Draskovec (800 m debth, 80C – from 10 to 20 litre per second – the
water bottling facilities are foreseen in the near vicinity as part of the investment project in future).
9. THERMAE HORTUS
CROATIAE
The whole TERME HORTUS CROATIAE complex is envisioned
as a ORGANICALLY STRUCTURED ETHNO-PARK VILLAGE IN
A EXCEPTIONALLY ATTRACTIVE HORTICULTURAL PARK
WITH WATER SURFACES, resonating natural warmth, ethno
atmosphere, hospitality, tradition and natural environment
at a 4+* quality level.
A relaxing and cozy atmosphere combined with professional
and kind staff, allow a pleasant stay and satisfied daily
guests and visitors, which represents the key characteristic
of the services in the HORTUS CROATIAE resort. The
configuration and diversity of services and the spatial
arrangements, allows both privacy and socializing for the
guests of the resort.
10. THERMAE HORTUS
CROATIAE
PROJECT GOALS:
- Building the most attractive spa resort with the most
comprehensive and commercially successful supply in
Croatia and wider proximity
- Extraordinary incentive for socio-economic
development of the wider region with 350 direct jobs
in the resort and 150-200 indirect jobs in connected
services and entrepreneurship in the region
- First phase of the development opened by the end of
2012 or first half of 2013
15. Thermal and drinking water wells in
Draškovec – location on the Project site
Drinking
water well
- 800 m depth
Thermal
- 8oC
water well
- 10-20 l / sec
- 2.000 m depth
- 75oC
- 11-30 l / sec
16. Thermal and drinking water wells in
Draškovec – location on the Project site
Exhaust of the Thermal water well
on the site of the Project
17. Gas (methane) well in Draškovec –
location on the Project site
Can be used as heating energy or for electricity production by
co-generation
18. Hot water well (75oC) and
methane gas well can cover
almost all the energy needs
of the entire planned resort
(and more), which
contributes a lot to the
economic efficiency of the
investment.
19. TECHNICAL AND BALNEOLOGICAL
CHARACTERISTICS
OF THE WATER
SURFACE TEMPERATURE ................................................................................................................ 70-77 *C
................................................................................................................ 70-
SURFACE PRESSURE ......................................................................................................................... 3-5 Bar
.........................................................................................................................
CAPACITY AT THE MOMENT OF INDEPENDENT GOING OUT ONTO THE SURFACE .............. 30 000 L/h SURFACE
CAPACITY AT THE MOMENT OF PUMPING OUT (lajer permeability) ............................................ cca 90 000 L/ h
(lajer
EXPLOITABLE INTERVAL
1. 51 Meters ( 1878-1827)- ............................................................................................................. 101*C
1878- 1827)- .............................................................................................................
2. 14 Meters ( 1167-1155)- ........................................................................................................... 73*C
1167- 1155)- ...........................................................................................................
3. 19 Meters (814 – 795 ) RETURNABLE PERMEABLE LAYER ................................................. 1 c.m./min
................................................. c.m./min
4. 30 Meters (185–155 ) NATURAL SPRING WATER ................................................................. 42 l./sek. approx
(185– ................................................................. l./sek.
WEL DEPTH............................................................................................................................................ 4.195 m
DEPTH............................................................................................................................................
The thermomineral water of Draskovec, according to the classification of mineral waters and taken into account
Dras kovec, into
the analyses made so far has been classified as follows:
Mineral, fluorine, bromide, iodine, sodium, chloride, hypertermal
Min. 12818.52 mg/l, F 2,07 mg/l, Br. 34.5 mg/l, J 12.13 mg/l, Na 94.29 mval%, Cl 85.26 mval%, temp. 70-77º
Na mval%, mval%, 70- 77º
Water is hypertonic with strong balneologic characteristics regarding its mineralization, concentration of
bromine, iodine and sodium chloride and the temperature.
temperature.
Medicinical application of the Draškovec thermomineral water:
Draš
Bath, Inhalation, Compress, Drink, Bandage, Microclystic, Shower, vaginal bedewing, Hydromassage,
Microclystic, Hydromassage,
Subcutaneous injection, Hydro gymnastics, Intramuscular injection, Iontophoresis, Galvanization,
injection, Iontophoresis,
Ultrasound
In addition to the medicinical application, the Draskovec thermo mineral water may be used for various recreation
and tourist purposes. The construction of a swimming pool, water park and other water facilities,
playgrounds and a hall for recreation and sports activities as well as of appropriate tourist facilities are the
well
prerequisites of the overall development of Draskovec as a health-tourist destination.
health-
21. Marketing concept of the
planned offer of the Resort
Program/product importance for the Terme Hortus Croatiae Spa Resort
Preventive
Conferences, Fun and
Wellness &
and Short break
banquets socializing Sport &
curative Spa leisure
and events trough recreation
health relaxation vacation
recreation
care
22. Marketing Concept
Basic Concept of the TERME HORTUS CROATIAE Spa Resort
TERME HORTUS CROATIAE combine traditional environment, healing effects of
the local resources of the Draskovec location with the ecological and ethnographic
character of the Medjimurje region at the river Drava into a exceptionally
comfortable, attractive and unique continental destination for Health & Wellness
tourism and second home investment location in Croatia and the wider region.
TERME HORTUS CROATIAE is a combination of ethnographic traditions,
exceptionally attractive landscape environment, natural resources of geothermal
water and man’s needs, dictated by the modern way of life. The unique geothermal
groundwater, ethnographic traditions and landscaped ambiance are combined with
comfortable and relaxing accommodation, exceptional hospitality and a wide
spectrum of specialized services by acknowledged professionals. Complete
physical and mental relaxation in exceptionally well arranged parks, hot springs,
pools, health-care therapies, rich social and cultural events in an ethno and natural
environment represent a comprehensive and effective form of a retreat from a
stressful way of life towards the delightful, a psychological and physical recovery
all year round. Health care services, specialized on the beauty of body and mind,
utilize geothermal groundwater as well as other modern complementary medicine
therapies for successful and rapid rehabilitation, preventive programs, as well as
short break and vacation programs.
23. Marketing Concept
Main Distinguishing Factor
TERME HORTUS CROATIAE is a prominent and comprehensive wellness
destination and a combination of a water and horticultural park in the north-most
continental part of Croatia, based on unique parks interweaved with water
surfaces, geothermal groundwater and a exceptionally sophisticated offer of
relaxation and health care services.
Unique selling proposition (USP)
Unique geothermal springs, a water and wellness park, combined with a
attractive horticultural landscaped nature park.
+ + +
24. Planned programs
1. Stationary guests program:
• Hotel accommodation with 150 rooms (4+*)
• Draskovec palace accommodation with 30 luxury hotel suites (5*)
• Ethno luxury villa accommodation 40 units (5*)
• Apartment accommodation 200 units (3+* and 4*)
• Specialized medical services
• Wellness & Spa center
• Conference and banquet center
• Cuisine
• Sport and recreation (including Golf)
2. Daily guests program :
• Water and Horticultural park
• Botanical Greenhouse
• Sport and recreation (including Golf)
26. Net Gross Building Building
CONTENT, CAPACITIES AND FACILITIES PROGRAM OF THE TERME HORTUS No. of No. of
buildin buildin unit levels footprint in lot area in
CROATIAE HEALTH-TOURIST RESORT rooms beds
g area g area m2 m2
104.99
m2
TOTAL AREA OF ALL RESORT FACILITIES: 92.455 91.233 296.764 420 1.460
6
m2
Central hotel complex 31.122 35.790 do P+3 18.636 56.912 150 315
Medical, Wellness & Conference Hotel (150 rooms, 4+*) with common areas, functional spaces
and rooms (with balconies). The rooms are to be orientated towards the south with views towards the
m2
8.880 10.212
Drava river. The net building area refers only to the lodging part with functional and common spaces
(reception, restaurant, rooms, lobby and bars, central kitchen, storage, housekeeping, technical,...).
m2
- exterior hotel areas (room terraces and balconies in upper levels) 975 1.121
m2
- exterior hotel areas (terraces etc. at ground level) 1.417 1.629
Specialized Health Center with preventive and curative health programs: diagnostics, physiatrists,
m2
750 863
dermatology and plastic surgery
Ethno-eco spa & wellness themed on the topic of horticulture and human beauty (hydro, fango and
m2
1.200 1.380
manual therapies, massages and beauty program)
m2
- exterior Wellness areas 300 345
Covered and exterior hotel pools, designated for hotel, villa and apartment guests (750 m2 of water
surfaces in various layouts: recreational swimming pool 25 m x 9 m; themed relaxation pool of
m2
2.500 2.875
irregular shape with a large number of hydro-effects, 30% of the surface reaching to the exterior; three
themed whirlpools; kids pool; + 1.750 m2 of functional space)
P+3 12.386 41.287 150 315
m2
- exterior pool areas in horticultural environment, connected with the interior 450 518
m2
Sauna world in ethno natural environment, themed on well-kept beauty of man and nature 800 920
m2
- exterior sauna areas in horticultural environment, for cooling and moving, with exterior saunas 500 575
Conference and Banquet Center, including: main hall for 500 delegates in theatre setup (400 m2),
dividable into two smaller halls for 200 delegates, 2 smaller halls for 50 attendees connectable into a
m2
bigger hall for 100 attendees in theatre setup, and 4 breakout rooms for 20 attendees, a big lobby with 1.530 1.760
a terrace connected to a restaurant, with views to the south, a separate entrance, Banquet center and
functional spaces (cloakrooms, toilets, offices and staff rooms,.. )
Event Club, positioned partly at ground level, partly in the basement, accessible both to hotel guests
m2
600 690
as well as other visitors.
A-la-carte restaurants and wine cellar (2 specialized themed restaurants, one of modern design
and offer of Mediterranean, Italian and French cuisine, the other with traditional design and local
m2
420 483
cuisine offer, both accessible from the hotel lobby as well as from the outside - wine cellar with a fine
selection of local and international wine brands)
m2
- restaurant terraces, connected with the banquet area 300 345
27. Net Gross Building Building
CONTENT, CAPACITIES AND FACILITIES PROGRAM OF THE TERME HORTUS No. of No. of
buildin buildin unit levels footprint in lot area in
CROATIAE HEALTH-TOURIST RESORT rooms beds
g area g area m2 m2
Underground car park, parking lots and technical areas (Ground level and
m2
16.750 19.263
basement)
m2
Central underground car park under the hotel (300 parking spaces at 30 m2 each) 9.000 10.350 P-2 5.175
m2
Basement technical spaces (HVAC, pool service,...) 1.500 1.725 P-1 1.500
Exterior parking lot at the hotel for daily guests and visitors (of the wellness and
m2
6.250 7.188 P 6.250 15.625
conference center) - 250 parking spaces at 25 m2 each.
28. Net Gross Building Building
CONTENT, CAPACITIES AND FACILITIES PROGRAM OF THE TERME HORTUS No. of No. of
buildin buildin unit levels footprint in lot area in
CROATIAE HEALTH-TOURIST RESORT rooms beds
g area g area m2 m2
m2
Apartment village in ethno-eco style 26.760 30.774 do P+2 16.518 88.589 240 1.040
- Villa village in ethno comfort style, with big bathrooms, built-in whirlpools and
saunas, well-kept gardens, on a larger land lot (40 villas at 180 m2 net building area on a
m2
7.200 8.280 P+1 4.871 42.000 40 240
700 m2 land lot each) situated in a quieter part of the development, with views towards
the Drava river.
- High quality apartments in ethno houses with big wellness bathrooms and smaller
m2
8.640 9.936 P+1 6.624 26.496 80 320
private gardens (2 appart. of 90m2 in one house, 40 houses, 80 appart. In total)
- Upper middle class apartments in bigger ethno houses (4 appart. of 70 m2 in one
m2
10.920 12.558 P+2 5.023 20.093 120 480
house, 30 houses, 120 appart. In total)
m2
Draskovec palace with the central park of the resort 6.030 6.935 do P+3 2.312 40.246 30 105
Draskovec palace redevelopment (in relation to historical data) with 30 luxury hotel
suites (from min.90 m2 to max.150 m2) at the highest quality level, with a smaller
m2
meeting space for meetings, protocol events and banquets for up to 50 attendees and a 5.400 6.210
smaller restaurant and functional spaces (reception, kitchen, storage,...) with a
exceptionally crafted garden terrace and café.
P+3 2.312 9.246 30 105
Wellness beauty center in Draskovec palace with a offer of acclaimed world cosmetic
m2
450 518
brands
Specialized smaller A-la-carte restaurant offering traditional and international food and
m2
180 207
wine
Horticultural park surrounding Draskovec palace presenting a central landscape
m2
31.000 35.650 P 31.000 31.000
attraction at the highest level as well as a intimacy buffer for the palace.
29. Net Gross Building Building
CONTENT, CAPACITIES AND FACILITIES PROGRAM OF THE TERME HORTUS No. of No. of
buildin buildin unit levels footprint in lot area in
CROATIAE HEALTH-TOURIST RESORT rooms beds
g area g area m2 m2
Water wellness and horticultural park Draškovec for daily visitors
m2
17.750 20.413 do P+1 16.900 60.604
(separated from the stationary part of the resort)
Covered water and wellness park total pool area: 1.500 m2, for daily guests,
containing: recreational swimming pool 25 x 15 m; a big themed relaxation pool
organically interconnected to a range of different sized pools, in lush vegetation and a
m2
large number of hydro effects and attractions, reaching to the exterior with 25% of the 5.250 6.038 P+1 4.025 13.417
surfaces; 6 whirlpools of various sizes; quieter pool with hydro effects for massage and
relaxation; a range of pools for kids with water playgrounds, aqua guns and special
attractions; big accompanying surfaces with pool bars.
Open water and horticultural park (connected with the interior) total pool area: 3.000
m2 with 7.000 m2 of accompanying surfaces, interlocked with a lush horticultural park,
attractive in all seasons for. The pools are divided into four groups: 1. relaxation part
(40% of pool surfaces) 2. recreational swimming pools (15% of pool surfaces) 3. fun
water park with aqua guns and water attractions (30% of pool surfaces) 4. Kids section
m2
10.000 11.500 P 10.000 10.000
(15% of pool surfaces). The pools are accompanied by large sunbathing surfaces, paved
with wood and other natural materials, and walking paths connecting to recreational
areas (beach volley, Boules, street basket,...). Offer of snacks, drinks, party and
socializing events is provided seasonally in accompanying pavilions. Net area
corresponds to the pool surfaces, paved areas and accompanying facilities.
Botanical greenhouse offering pleasant walks and educational tours on the subject of
m2
2.500 2.875 Visoki P 2.875 7.188
local flora, and a small botanic and souvenir shop
Horticultural park, accompanying the open water park, with a great emphasis on
m2
40.000 P 40.000 40.000
landscape design
30. Net Gross Building Building
CONTENT, CAPACITIES AND FACILITIES PROGRAM OF THE TERME HORTUS No. of No. of
buildin buildin unit levels footprint in lot area in
CROATIAE HEALTH-TOURIST RESORT rooms beds
g area g area m2 m2
P do
m2
Sports and recreational areas (with 18 hole golf course) 9.293 9.361 10.143 21.964
P+1
Open tennis courts 4 x, with spectator seating on one side in proximity of the water and
m2
5.688 5.688 P 5.688 11.376
horticultural park accessible to guests of the hotel and apartments
m2
Putting green at the golf clubhouse in proximity of the village villas 1.000 1.000 P 1.000 2.500
Golf clubhouse with restaurant and views towards the Drava river in proximity of the
m2
450 518 P+1 300 1.200
village villas and the start of the golf course.
Combined Soccer-Handball-Basketball field, in proximity of the water and horticultural
m2
1.155 1.155 P 1.155 2.888
park, accessible to the guests of the hotel and apartments
Adrenaline park for kids, with climbing and playing devices, in a horticultural ambient
m2
2.000 2.000 P 2.000 4.000
crafted from natural materials
Optional 18 hole golf course starting and ending at the golf clubhouse, in proximity of
800.00
m2
the village villas. The course is extending on an area of min. 60 ha to max. 80 ha from 800.000 P 800.000 800.000
0
the south edge of the resort towards the Drava river.
m2
Central parking lot for daily guests and technical spaces 1.500 1.725 P 26.725 28.450
Central parking lot for daily guests, close to the water, wellness and horticultural park
m2
entrance. 1.000 parking spaces of 25 m2 each, with asphalt access ways and grass- 25.000 25.000 P 25.000 25.000
paved parking bays in lush greenery providing shadow and visual cover.
m2
Technical spaces and water pumps 1.500 1.725 P 1.725 3.450
31. Capacities and area totals
Net Gross Building Building
CONTENT, CAPACITIES AND FACILITIES PROGRAM OF THE TERME HORTUS No. of No. of
building building unit levels footprint in lot area in
CROATIAE HEALTH-TOURIST RESORT rooms beds
area area m2 m2
m2
TOTAL AREA OF ALL RESORT FACILITIES: 92.455 104.996 91.233 296.764 420 1.460
m2
Central hotel complex 31.122 35.790 to P+3 18.636 56.912 150 315
m2
Apartment village in ethno-eco style 26.760 30.774 to P+2 16.518 88.589 240 1.040
m2
Draškovec palace with the central park of the resort 6.030 6.935 to P+3 2.312 40.246 30 105
Water wellness and horticultural park Draškovec for daily visitors
m2
17.750 20.413 to P+1 16.900 60.604
(separated from the stationary part of the resort)
P to
m2
Sports and recreational areas (with 18 hole golf course) 9.293 9.361 10.143 21.964
P+1
m2
Central parking lot for daily guests and technical spaces 1.500 1.725 P 26.725 28.450
32. Allocation of facilities
program
Draft proposal for modification of existing
urbanistic documents (already in process
of adoption by the Municipality)
33. Preliminary conceptual
design of the resort – ready
for drafting Detail Urban Plan
Draft proposal of conceptual urbanistic
and architectural design of the resort, as
base for drafting the Detail Urban Plan of
the area
34.
35.
36.
37.
38.
39.
40.
41.
42.
43.
44.
45. Estimation of the investment cost of the
project Thermae Hortus Croatiae
Cost of total investment Amount (EUR) Share
Land 48,1 ha including the wells (share acquisition) 12.500.000,00 8,83%
Construction works (Hotel, Palace, Wellnes & Water Park) 46.250.000,00 32,67%
Construction works (Villas and Apartments) 22.500.000,00 15,90%
FF&E (Hotel, Palace, Wellnes & Water Park) 20.600.000,00 14,55%
FF&E (Villas and Apartments) 6.400.000,00 4,52%
Landscaping and environment arrangement (Hotel) 10.800.000,00 7,63%
Landscaping and environment arrangement (Villas and Apar 4.800.000,00 3,39%
Special attraction elements of interior and exterior 2.700.000,00 1,91%
Communal taxes and construction of communal infrastructu 7.700.000,00 5,44%
Project design and project engineering 3.800.000,00 2,68%
Tehnical consultancy and engineering 1.500.000,00 1,06%
Unexpected cost 2.000.000,00 1,41%
TOTAL INVESTMENT COST 141.550.000,00 100,00%
46. Planned sources of
financing
Cost of Amount
Sources of financing Structure
capital (EUR)
Equity capital 20,0% 12,00% 28.310.000
Debt project financing 50,0% 6,63% 70.775.000
Debt financing 30,0% 6,83% 42.465.000
WACC 100,0% 4,88% 141.550.000
47. Support for the Project
Municipality Prelog
Regional governement in Medjimurje
Government of Croatia
President of Croatia Mr. Stipe Mesic
48. Summary
The location of Thermae Hortus Croatie is property of the company AAT d.o.o., that is
owned by the Hosting group and their financial partners. The property is situated in the
Medjimurje region, in Northwest of Croatia, in the Municipality Prelog and the
Draskovec settlement, in vicinity of the highway Zagreb-Varazdin-Budapest.
In this phase of development the project contains 48,1 ha of land.
The land plot that is included in the property of the company AAT d.o.o. already in this
condition is planed in the Urban Plan of the Municipality Prelog for developing and
construction of tourist objects („T1“ and „T2“) only the Detail urban Plan has to be
adopted (which decision has already been brought by the Municipality)
In the County Urban plan the site is planned for tourism development, also in the
Municipality plans. At the moment we are in the process of drafting the Detail Urban
Plan for the site (for the 1st zone of approx. 300.000 m2, where the hotels, Water &
Wellness park and recreation is planned) after which we can obtain building permit. For
the rest we are in the process of defining the final conceptual design as basis for the
Detail Urban Plan. So this year (but very soon) is still the right time for interested
investor to come in and influence the planning, which adoption is highly supported by
the County and Municipality leaders.
49. The planned maximum allowed gross floor area is going to be adopted mainly to our
needs. What we have planned in the area, which is already in ownership of the AAT
d.o.o. company (481.000 m2) and was approved by the urban planners and Municipality
is 200.000 m2 of Gross Floor Area in total, which is very conservatively planned and
ensures very high quality of space and ambiance (a lot of gardens, green areas, golf
course, etc.) and we can still expand it (on account of the more Villas and Apartments) if
investor wants higher density.
The site contains a thermal water well Draskovec-1 (750C – from 10 to 30 litre per
second) which is also a Methane gas well and a research well for drinking water well
Draskovec (80C – from 10 to 20 litre per second). Due to very big, practically
unmeasurable volume of water-bearing collector, and its relatively high
permeability, it can be expected that water pumping out of it, in the quantities
permitted by its collector's properties and a capacity of uncovered interval, cannot
decrease a richness of the layer during a longer period of pumping.
The whole TERME HORTUS CROATIAE complex is envisioned as a ORGANICALLY
STRUCTURED ETHNO-PARK VILLAGE IN A EXCEPTIONALLY ATTRACTIVE
HORTICULTURAL PARK WITH WATER SURFACES, resonating natural warmth, ethno
atmosphere, hospitality, tradition and natural environment at a 4+* quality level.
50. The Investment Project is a combination of Tourist operation and Real Estate
investment, since all the 240 Villas and Apartments are foreseen to be sold on the
real estate market to the final buyers after construction (but agreed for the
management and operation back to the main operation company of the Resort)
The total investment (all phases) is estimated to approx. 141,5 mil EUR
The income from sale of the villas and apartments is estimated to at least 50 mil EUR
Yearly income of the resort in the phase of operation is planned to reach at least 23
mil EUR
The investment project can be expected to be subsidized by EU regional funds (in
amount from 20 to 40 % of the total investment excluding villas and apartments
= approx 20 – 30 mil EUR subsidy) after Croatia joining EU, until when all
documentation and project designs and building permits can be ready (2011-2012)
The energy value of the thermal water wells and potential of the drinking water well
are representing the surplus to the above mentioned economic and financial
estimates
The owners of the AAT d.o.o. are ready to sell the majority share (up to 100%) in
AAT d.o.o. to the potential interested investor(s) and remain in professional support
for the realization of the investment project.
51. Real estate prices in Croatia
At this moment (according to the Croatian real estate statistical
analysis for year 2007) average price for building land in Croatia is €105/m2.
In capital city of Zagreb the average price is €272/m2,
On the coast €163/m2,
And in the rest of Croatia €60/m2.
Draskovec location is only 100 km from Zagreb, connected by the high
quality highway. It takes about 45 min of driving to cover the distance.
A small city of Samobor, (located about 27 km from Zagreb, with driving time
of about 35 minutes) has already achieved (for better located building land)
a price of €270/m2.
In surroundings of Cakovec and Varazdin (the cities distant only 10-20 min
drive away from the location of the Project) the prices for the building land
have reached from €30 to €50 per m2.
In 2-3 years time an attractive location in Prelog will be considered
convenient for living even for the people working in Zagreb and the
attraction of the leisure and recreational facilities planned within the project,
will make it attractive for second and holidays home. The price of land will
grow up and shall come close to those in vicinity of Zagreb and Samobor.
52. Business offer
Purchase of 100% share in commercial company AAT
d.o.o.(ltd.) – including 48,1 ha of land parcels
urbanized for tourism & real estate development and
water & gas wells
Price of 100% share: 12.500.000 EUR (in present status of the
Project, owing the wells and 481.000 m2 of land)
This price is agreed if Hosting is engaged in local management and
engineering of the investment project for price of 1,5 mil EUR (that is
paid in three installments of 0,5 mil EUR in three years)
Hosting engaged as local project management and
engineering is performing all technical and professional as
well as legal activities of the Project development with
guidelines, objectives and approval of the main Investor
53. Offered share price of AAT
d.o.o.(ltd.) calculation
4.500.000 EUR – Thermal & Gas Well
and drinking water well infrastructure and
energy and water potential value
16,63 EUR/m2 (x 481.000 m2) =
8.000.000 EUR – price of land urbanized
in County and Municipality urban plans
for tourism & real estate development
X 100% = 12.500.000 EUR
54. The development of the project
could be divided into 3 phases
1st phase: €12,5 m – acquisition of land and
completing resorts plans and drawings until
adoption of detail urban plan
2nd phase: €4-6 m – drafting main project
design, obtaining building permits, and
completing documentation for application to EU
regional fund for subsidy up to €20m of the
total investment.
3rd phase: €123 m - €125 m – building the
whole resort to the final phase
Estimated total final planned investment is €
141,5 m.
55. Methods of recovering the
investment
The investment can be recovered by:
Selling the land or shares in the company after
the first or second phase (before the third
phase) of development and/or
Building and selling homes and/or
Building and operating the hotel(s) and water
park facilities and/or
Building and selling the hotel(s) and water park
facilities
56. Foreseen price of the Project after
the first stage development
Foreseen activities to be developed in first phase
in next one year time
Final conceptual design of the entire project
Additional acquisition of the leased land for golf resort
(approx. 40 ha in long term lease)
Adoption of Detail Urban Plan by Municipality
Foreseen price of the Project after first phase
development:
40 EUR/m2 x 481.000 EUR = 19.240.000 EUR
Thermal and drinking water wells value: 4.500.000 EUR
TOTAL VALUE: 23.740.000 EUR
57. Foreseen price of the Project after
the second stage development
The investment project can, of course, be
developed, by investing additional €4 m - €6 m,
to the second phase by drafting the main
project design and obtaining building permits
and on that basis acquire the EU regional
fund subsidy (of approx. €20 m). In that case
the sales price of shares in the company would
be at least €10 m higher (meaning in total at
least €33 m) and financial results of the
investment even much better.
58. Foreseen price of the Project
after construction of the Project
If the investor decides to construct the Project, sell villas and
apartments (estimation 54.120.000 EUR), and afterwards
sell the whole resort (Draškovec castle, hotel, water park)
the expected selling price would amount 173.834.457 EUR
(in total with apartments and villas that amount would be
227.954.457 EURO). The profit from the Project would
amount 86.356.741 EUR.
If we take into consideration irretrievable funds from regional
funds of EU in the amount of 20-40% of total investment (not
including villas and apartments which are meant for sale)
meaning 20-30 m EUR of irretrievable funds for tourism
development, the profit from the Project could be even
higher.
59. Why people would choose Draskovec for
buying a house for home or second home?
There are no real estate developments in that area that would built houses in a large
area according to a master plan which would protect the landscape and environment.
In the project all houses shall be built in the same style in carefully planned order.
In addition the area will have recreational facilities, like parks, indoor and outdoor
pools, playground, golf and alike, hotel with health, fitness and SPA facilities all
close to the river and the lake with facilities for fishing, hunting, canoeing, horseback
riding, boating, hiking and bicycling in the nature etc.
Such an oasis would not doubt attract people from Zagreb (1 m inhabitants) and
nearby towns like Varazdin (70.000 inhabitancies) and Cakovec (50.000 inhabitants),
which are very romantic baroque towns rich in cultural heritage, to buy homes and
settle in such an ambiance.
It will attract people from urban centres of Slovenia, Austria, Northern Italy, south
Germany and Hungary to buy second home as the retreat from the stress of city life.
60. Why people would choose Draskovec for
buying a house for home or second home?
On the other hand strategic investors from wider region will be interested
to build a hotel(s), apartment and villa complex and large water &
wellness leisure park based on health and SPA concept integrated in the
nature and adventure offer. This is why the thermal water is important.
The thermal water spring attracts the hoteliers and water &wellness park
operators and motivate them to invest in the land owned by the resort.
SPA holidays and short breaks throughout the year are very popular in
this part of the world and the demand for them is steadily and
continuously growing. The planned resort is following market trends in
development of the retreat resorts by combining popular sports like
hunting (lot of Italians are coming to Croatia for hunting), fishing, golf,
cycling, horseback riding, hiking, etc. with spending time in the nature.
However, it would have its unique competitive edge due to the location,
proximity of the lake and river and uniquely designed tourist product.
61. The Hosting Group
International group of companies for consulting and engineering
in tourism, specialized for development of tourism and real
estate related Greenfield investment projects with international
references with its daughter companies in Slovenia, Croatia,
Bosnia and Herzegovina and Serbia (www.hosting.si).
Hosting is cooperating with renown European and global financial
investors. With its know how on the field of preparation of projects for
entering of financial investors. Hosting in some extent acts as developer and
investor.
Hosting is the carrier of the idea concept and the business model
of the project “Thermae Hortus Croatiae”.
Hosting is the owner of the project company AAT d.o.o. (ltd) who
is the owner of the real estate and the wells
62. Peter Vesenjak, General director
Hosting Group
Direct Mobile: 00386 41 514 020
Internet page: www.hosting.si
E-mail: peter.vesenjak@hosting.si