In late 2012, an NCH fund acquired approximately 5.5 hectares of shorefront land from a distressed foreign investor for approximately 50% of the seller’s 2006 purchase cost. The parcels are located directly on the coast less than a kilometer south of the island of Sveti Stefan, near an Aman Resort. The site has magnificent views of both nearby Sveti Stefan Island and the town of Budva (8 kilometers away) and has direct frontage along the local road that connects to the main throughway. The site is well suited for residential and tourist facility development and is classified as eligible for development according to the guidelines of the new Spatial Plan of the Coastal Area of Montenegro. We are in the process of finalizing the building plan needed for building permits.