The luxury resort planned by the government near Costinesti will require a few hundred million euros

Newsroom 29/08/2018 | 07:12

One of the strategic objectives included by the government on a recent to-do list is a luxury resort on the seaside, between Costinesti and 23 August village.

At present, the 800 hectares that the authorities want to use are in the wilderness, with a dirt road and around 150 meters away from the shoreline.

The project includes the development of four luxury resorts and eight 5-star hotels on an unexploited area. Obviously, at for the moment only on paper.

This is not the first time that a new resort between Costinesti and 23 August is being discussed: in 2007 there was a similar project but it was abandoned because the investment is a few hundred million euros and there aren’t that many investors available.

The development of the resort, currently named “New Costinesti”, was approved in the last government meeting, together with other projects such as Bucharest – Cluj Napoca High Speed Rail, the expansion of Constanta Port and Bucharest Metro, Tarnita-Lapusesti hydroelectric power station and so on.

The project is considered a strategic investment objective that will be prepared and assigned in public-private partnership (PPP) through the National Strategy and Prognosis Commission.