The Master Plan zoned the bay for high class tourist development with marina, leisure and recreational facilities.
Planning Permissions, which gives way to construction, can be obtained once the Detailed Urban Plan (DUP) for the bay is produced.
Once it will be issued the land price is expected to increase over 150% with the Planning Permission.
The Master Plan for Buljarica Bay envisages high-class tourist resort of exclusive hotels, apartments and villas with marina, golf, leisure & sport facilities.
The Detailed Urban Plan can be initiated by private investors.
Currently several international companies are in negotiations with the Budva Municipality, which owns part of the bay land, for initiating the DUP study.
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