Luštica Bay is an outstanding example of strategic development based on ESG principles (Environmental, Social Responsibility and Corporate Governance Standards) practices in the region and proves that sustainable tourism, construction and nature conservation can go hand in hand. The company is committed to achieving daily results that create long-term valuable resources, improving management structures through standardized operating procedures (SOPs), as well as fostering a culture of diversity, inclusivity and concern for employee well-being.
Strategic development based on ESG principles
Luštica Bay is proof that vision and well-executed investments can bring long-term prosperity, while preserving the authentic natural and cultural identity of the region. Natural landscapes remain at the heart of every construction initiative, given that the city will develop on less than 10% of the 690 hectares. The architectural approach emphasizes the preservation of the natural environment and architectural heritage, through low-rise buildings that harmoniously fit into the landscape, inspired by the rich history and architecture of the Luštica Peninsula and the Mediterranean climate. Luštica Bay uses locally available materials in its construction, such as hand-hewn stone from the site itself, thus achieving harmony between contemporary design and tradition, with minimal environmental impact. The Chedi Luštica Bay hotel, a leader in sustainability in the hospitality industry in Montenegro, aims to become carbon neutral by 2030 and is the winner of the Zero Waste award, becoming the first luxury hotel in Europe to officially achieve zero waste operations. From efficient construction with smart solutions and applied energy efficiency principles and programs, to waste reduction and the full spectrum of ESG principles, Luštica Bay fosters a sustainable approach to every segment of destination development.
Corporate social responsibility is an investment for the future
Luštica Development has so far allocated over 3,8 million euros for CSR projects. These funds are directed towards supporting the local community, including through continuous annual cooperation with the Municipality of Tivat and numerous other projects in the areas of culture, education, sports and ecology.
Employees are the company's greatest asset.
Luštica Bay is one of the most significant employers in the region and a major driver of the local economy. Luštica Development, together with The Chedi Luštica Bay Hotel and the Centrale Luštica Bay by Angsana Hotel, currently employs 717 people, of whom 322 are from Boka and over 224 from Tivat. During the summer season, an additional 300 seasonal workers are hired, approximately half of whom are from the local community.
In addition to direct employment, the activities create a significant indirect impact: through a network of partners, suppliers and entrepreneurs operating within the destination, Luštica Bay supports an estimated additional 2.500 to 3.000 jobs across Montenegro. This represents almost five times the number of direct employees, creating a strong multiplier effect that spreads throughout the local economy. During its development, Luštica Bay has changed the industry standard in which key positions were usually held by foreign workers. Today, Montenegrin nationals hold top positions in the company - directors of sales, marketing and human resources, business development, which confirms the commitment to local integration, talent development and female leadership.
A community that evolves with those who make it up
Guided by the vision of creating the most prestigious destination on the Adriatic, we practice the principle of “People for Progress”, a philosophy that gives everyone a role in shaping the future of the destination, but also through professional development. Employees are united through the principle of “One Orascom” team culture, which means that even challenging business situations are treated as potential for development. When a corporate culture is authentic, it shapes not only the workplace, but lives and futures.
Olga Radovic
human resources director
Leadership is a mindset and a responsibility to inspire others to become better.
Olga Radović is a leader with more than 20 years of experience in leading multinational companies in the fields of telecommunications, energy and luxury hospitality. Her leadership is reflected in her ability to inspire, empower and direct the team towards common goals. She sees corporate culture as the basis for long-term success, while she views the people in the company as the greatest value, and their professionalism, intellectual capital and human values as the strategic advantage of the company. In her approaches, HR plays a key role in nurturing a healthy organizational atmosphere, in which employees can make an authentic contribution and realize their full potential. She encourages the development of talents and acts with empathy, clarity and purpose. For more than three years, far from her home, she has found a new home in Luštica Bay, shaped by people whose professional dedication and warmth remind her every day why she wanted to belong there.
I am often asked what a company’s corporate culture actually means. For me, it has never been just another theory about corporate human resources, but rather the DNA, the feeling that greets you when you meet the team, the principles and the way we make decisions, provide support and build trust, and even the way we look. It is an energy that either lifts or holds us back. At Luštica Bay, it lifts us up, motivates us, and is part of our everyday work. Here, we build a culture that lives, together with people. Careers do not develop according to pre-drawn maps: they are natural, fluid, driven by professionalism and initiative, courage and opportunities that open up in the wider Orascom Development ecosystem, where knowledge is exchanged without limits.
Being a woman in the position of Director of Human Resources, and being responsible for talent and culture, is an honor and a privilege that I do not take lightly. Every colleague knows that they have their own respected place with a clear vision and purpose, especially in a time of rapid change. My task is to encourage the development of talents who have empathy and emotional intelligence, who know how to listen as much as they talk, and who create space for honest feedback in all directions. Leaders who are not only focused on themselves, but also on the team around them. Leaders who understand that shared responsibility is not a matter of hierarchy, but of mutual responsibility. And that is why I know that we are not just building a destination, but also a community that supports and shapes each other.
I am particularly proud of our diversity. It is not a corporate or marketing formula, but a mantra. Almost half of our middle and senior management are women, which clearly shows that female leadership is one of the foundations of success and stability. In addition, twenty percent of colleagues come from countries outside Montenegro, which makes our community culturally rich, open and different. Different languages, experiences and worldviews are our comparative advantage. In the end, the greatest value of Luštica Bay is its employees. They are the heart that beats to the rhythm of our every success, their energy is the force that drives us. Because of them, every day we have the opportunity to create something that lasts, that connects us and that leaves a mark, in the city we are building and in the people we belong to. In leading positions at Luštica Bay are leaders who lead towards growth and development, not only efficiently, faster, but also better. Stronger. Together. They create and shape new generations of leaders.
Ana Zlokovic
real estate sales director
Strategy and emotions that are changing the luxury real estate market in Montenegro
Ana Zloković took on the position of the first sales director in mixed-use projects after almost two decades of experience, with a reputation as a professional that has accompanied her since her first sales in the real estate market in Montenegro, which then began to record an increase in interest from international investors. In an industry that is much talked about, Ana Zloković is a rare combination of rational and sensitive authority who knows how to offer structure and build trust. She brings what cannot be standardized: a keen sense of people, processes and space. These are competencies that are not learned, but developed from internal excellence.
Many years of working in an international environment have brought me experience with clients from the United Kingdom, Western Europe, the Middle East, Russia and the United States. In every market niche, and especially in communicating with ultra-wealthy clients, where decisions involve a mix of complex financial analysis and relationships of trust in the market itself and its development, I have realized that it is important to understand the space, the lifestyle and the sense of belonging that a destination can create and achieve, and to see the overall potential for growth and development of a destination.
It is precisely because of this dimension that I joined the Luštica Bay team. The project attracted me because the vision of development is realized with full respect for the place where it is created and is an excellent example of a strategic public-private partnership. Boka Kotorska and the Luštica peninsula as a micro-locality carry a historical, cultural and emotional dimension and an authentic ambience that nostalgically returns to the times of simpler, typically Mediterranean life. I am convinced that such a space can only be further shaped if these elements are well understood, and that they carry a value that is special and can be internationally valued.
In my work, I rely on three principles: product authenticity, strategic planning, and consistency in every detail. I do not believe in short cuts or instant solutions; I prioritize vision, process, logic, and – motivated people. At Luštica Bay, I lead the sales department, with responsibility for achieving annual goals that exceed 140 million euros in revenue and are achieved through successful access to numerous markets – for example, the value of the destination has been recognized by customers from more than 50 countries so far.
The great team behind these results is of utmost importance. I am a supporter of the philosophy that success is achieved by creating a safe environment in which employees can grow, so I place the development of the team and the capacities of each individual member as high on the priority list as product development. Sales is often perceived as exclusively externally oriented, towards the customer, but to be successful it must include a clear strategy. I am an initiator and a strong advocate of the digitalization of systems and processes, as well as taking into account information and analytics of market trends as a basis for decision-making. It is precisely the segmentation of customers and products, as well as each target market, that results in a "tailor-made" approach, with clear profiling of target groups and precise definition of products. Only then can teams move faster and more confidently in the direction of creating value for the client and the company.
Although I rely heavily on data and analytical models to approach different target groups, I believe that markets often communicate signals that are not immediately visible, nor can they be immediately expressed in numbers. My job is also to ensure that the property typologies, offer structure, prices, benefits and overall customer experience are sufficiently secure and resilient for the company to global financial and geopolitical turbulence, and that they are created with due regard for the mix of key data, almost invisible changes and nuances in the expectations of increasingly demanding international buyers. The goal is not just to sell a property, but to create value that makes the client feel satisfied, not only as an investor, but as part of the community to which that space belongs. It is a balance that ensures that the results are both sustainable and meaningful, and the reason why customers return and trust us.
Slavica Milić
Director of Marketing and Communications
Business requires intuition, heart and courage. A women's era with new rules of the game
Slavica Milić's name has been associated with strategically driven communications, marketing and highly creative campaigns for years. For the past twenty years, she has led the marketing of luxury destinations across Southeast Europe and the Caucasus, including Porto Montenegro, The Ritz - Carlton Residences in Baku, and in two terms, the marketing projects of Luštica Bay. Her values as a leader in this sector, among other things, lie in her ability to turn strategies into authentic reality. This means that every decision is based on data, but also on a sense of place, time and people, and that it reflects the harmony of the values of the project and target groups.
Working as a woman in leadership in these markets and in the corporate world almost always means balancing high expectations with speed in decision-making. It’s a constant lesson in adaptation, and as a woman in leadership in the marketing sphere, I would like to say to all women in business that we don’t always have to be fully prepared to do something great. The future will not be led by those who know the most, but by those who understand the most deeply – ourselves, the people, and the world we create together.
It is important that we always learn and move forward. To lead with intuition, heart and courage. And when you lead yourself, use your mind; when you lead others, use your heart.
The heart is the most accurate compass, and intuition is an innate feminine power. We are often taught to put emotions aside, but empathy and emotional intelligence are the foundations of modern branding, or the ability to sense a space, recognize the unspoken needs of a team, or to connect with future city residents on a human level.
You should always believe passionately in the work you do. Working on the Luštica Bay project represents my greatest professional challenge to date. As additional context for all readers, Luštica Bay is a brand new city in an active phase of development in Montenegro. What was just a pristine coastline in 2008 is now one of the largest development projects in Southeast Europe. Leading the marketing of such an endeavor requires all the strength and experience I have gained over more than two decades. We are building a community from the ground up, and that requires a strategy of the heart, along with knowledge and intuition. It is necessary to cultivate a sense of belonging, both within the team and among the people who live and create here.
The need for humanity is more important than ever, especially in the age of artificial intelligence. Technology brings us precision and efficiency, but the more advanced our tools are, the more we must base management on genuine human connection and understanding. Experience has taught me that the true value of a leader, especially a female leader, lies in the ability to turn data and strategy into a reality that feels authentic. It’s easy to choose the beaten path or the stereotyped way of doing business through familiar formats, but a true leader must have the courage to lead. Courage is not the absence of fear, but the willingness to make room for a new idea and an unexplored direction. It is the determination to protect the time and space in which true creativity can arise. This is what marketing lacks the most today. As leaders, we must consciously create environments in which creativity can survive the pressure of the corporate system. Only in this way can we inspire our team and the industry to go beyond the planned framework and create value that lasts.
Milica Starcevic
Director of the Business Development Department
Leadership based on authenticity
In the modern business environment, leadership is becoming less about titles and more about authenticity, integrity and strategic focus. Milica Starčević brings a powerful portrayal and interpretation of modern leadership through her experience in business development and partnership management within Luštica Development. Her story shows that a leader becomes one when we take responsibility for creating value, building lasting relationships and, through our example, initiating the changes that the industry needs.
In the business world, it is often assumed that leadership comes with age, titles, and long service. However, through my personal example, I have learned that true leadership is not measured only by experience, but also by attitude. It begins the moment we learn to trust ourselves, when we recognize our own value, and when we do our work with genuine passion. It is precisely this strength that I most often recognize in the leaders who inspire me. These are women who do not chase authority – they naturally radiate it. Their dedication does not come from obligation, but from love for what they create and the courage to be authentic. With such values, I also shape my professional style, which I began after completing my master's degree, joining the Luštica Bay project.
Within the business development sector, from the very beginning, I had the opportunity to collaborate with successful people from different industries. The nature of this sector, focused on establishing commercial partnerships and developing strategic initiatives, provided me with a broad insight into different business segments.
Luštica Development acts as a credible interlocutor in partnerships, and in that environment, every collaboration I lead on behalf of the company gives me the opportunity to learn, grow, and improve the processes for which I am responsible. I believe that this approach contributes to the modernization of traditional ways of doing business and confirms that women can be strong, reliable negotiators who bring value – to both their company and partners – through results that last.
I am especially proud that our partners recognize such an approach and when I have the opportunity to witness the fruits of successful agreements that we have jointly built and achieved. As someone who comes from the area where the project is being implemented, I find additional motivation in the fact that I can observe and contribute to the transformation of the space in which I grew up – and I really enjoy it.
(Lustica Bay)
