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Americans Invest Half a Billion Euros in Pašman

After the public call from the Municipality of Pašman for the realization of the Pašman resort project expired on March 9, the proposal from the only interested investor, the American company Blackard Global, led by owner and director Jeff Blackard, was accepted.

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Jeff Blackard

Blackard is known to the public for having built a replica of a Dalmatian resort in Supetar in his native Texas, and last autumn he established the company Global Waste in Zagreb, registered for the processing and disposal of non-hazardous waste. He became acquainted with the Pašman resorts project at the last AHT Invest Forum of Miljenko Bura, after which he decided to proceed with the realization of the largest Croatian greenfield project in tourism, valued at 500 million euros.

More investors did not respond to the call as one of the criteria was that the company’s annual revenue must be at least 250 million euros over the last three years. The project area covers 260 hectares, of which 100 is a tourist zone, five hectares are service logistics zones, and 155 hectares are designated for agricultural and horticultural purposes. A master plan for the project has been developed, and the Spatial Plan of the Municipality of Pašman has been adopted.

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The access road to the project area has been designed and is ready for construction. The project includes the construction of hotels, apartments, villas, a beach, boat moorings, and a total accommodation capacity of four thousand beds. According to the tender conditions, the investor has the right to build and lease models and concessions for 99 years.