Kolaboro / Projects / Montenegro
The Peaks, Luštica Bay: reviews and facts
What is published about The Peaks, Luštica Bay in The Peaks golf district, Luštica Bay, Luštica peninsula, Tivat, Montenegro, what official registers and other sources say, and what changed over time. Facts only, each with its source.
- Developer
- Luštica Bay baerz.com
- Location
- The Peaks golf district, Luštica Bay, Luštica peninsula, Tivat, Montenegro
- Stage
- under construction · active baerz.com
- Handover on record
- December 2028 baerz.com
- Permit or licence number
- not published
- Deposit protection
- not researched yet
- Page we read
- baerz.com baerz.com
- Last checked
- 5 Nov 2026
- Open data record
- MNE-001
In short
- The Peaks, Luštica Bay is listed as under construction in The Peaks golf district, Luštica Bay, Luštica peninsula, Tivat, Montenegro, by Luštica Bay. baerz.com
- The handover date on record is December 2028. baerz.com
- No permit or licence number is published in the sources we read. montenegrobusiness.eu
- Of 12 developer claims we checked, 4 are confirmed by a register or an independent source, 5 are not yet verified and 3 are contradicted by another source. Open data record
What is promised
As published by the developer or on listing pages, in the wording of the source.
- Price from: EUR 859,000 - 5,076,000 baerz.com
- Unit sizes: 105 - 400 m² baerz.com
- Unit types: 1BR, 2BR, 3BR townhouse, 4BR, 5BR villa baerz.com
- Payment plan: Interest-free payment plans up to five years baerz.com
- Ownership: Freehold; foreigners can own property in Montenegro baerz.com
- Permit authority: Montenegro Ministry of Spatial Planning, Urbanism and State Property baerz.com
- Construction start: December 2013 baerz.com
- Handover promised: Q4 2028 baerz.com
- price range EUR 859,000 to 5,076,000 and sizes 105 to 400 m2 (Baerz listing) montenegrobusiness.eu
- expected completion December 2028; sale and construction start shown as June 2013 (resort-wide) montenegrobusiness.eu
- interest-free payment plans up to five years; 0% transfer tax claim montenegrobusiness.eu
- The Peaks Townhouses: 11 units from EUR 2.2m, gardens 184 to 590 m2 (Sept 2025 launch) montenegrobusiness.eu
- construction notice for wastewater works for phase I-b2 (10 villas, 3 golf houses, 3,374 m2 GFA); wastewater permit issued 25 Jul 2025 montenegrobusiness.eu
- golf course: first holes open, full 18 holes due end 2028, opening 2029 season montenegrobusiness.eu
Delivery and delay record
Every dated promise we found, how it changed and whether the date has passed. Status rules: promise tracker.
- Handover or completion: December 2028 date still ahead
developer or listing page, copy of 5 Nov 2026 (SHA-256 011225964c758bb9) baerz.com - Other construction milestone: Q4 2028 date moved later · moved 1 times, 24 months in total
our research record of 1 Nov 2026 · Earlier dates on record: 2026 (1 Nov 2026) baerz.com
Permits and licences
- No permit or licence number is published in the sources we read.
- Independent business press reports a wastewater construction permit for phase I-b2 issued 25 Jul 2025 and a construction notice in 2026, but no permit number is given and the listing mentions no permit montenegrobusiness.eu
Live check in the official registers
Queries the official registers we can reach for this country now and shows what each returns. Each answer is hashed (SHA-256); nothing is invented, a register with no data says so.
The six buyer checks
Public means the information is published. The level says who confirms it. Method: how we score.
| Check | Public | Who confirms it | What we found |
|---|---|---|---|
| Permit or licence number | no | confirmed by an independent source | Independent business press reports a wastewater construction permit for phase I-b2 issued 25 Jul 2025 and a construction notice in 2026, but no permit number is given and the listing mentions no permit montenegrobusiness.eu |
| Deposit protection | no | not published | No escrow, bank guarantee or deposit protection stated on the listing or in press montenegrobusiness.eu |
| Construction progress | yes | confirmed by an independent source | Resort-wide progress figure (about 10% on listing; about 11% per government assessment) and dated golf milestones; The Peaks phase I-b2 only at infrastructure stage as of Aug 2026 montenegrobusiness.eu |
| Floor or site plans | no | not published | Listing has a size range only; no floor plans montenegrobusiness.eu |
| Developer track record | yes | confirmed by an independent source | Government data reported in press: about 450 apartments, 20 houses/villas, 2 hotels delivered by mid-2025; parent Orascom Development is listed with audited reports montenegrobusiness.eu |
| No guaranteed returns | yes | not published | No guarantee, but listing cites a 'historical average annual property appreciation of approximately 13%' and 'immediate rental income potential' without source montenegrobusiness.eu |
Developer claims we tested
| Claim (source wording) | Result | Checked against | Source |
|---|---|---|---|
| Developer is Luštica Development, controlled by Orascom Development Holding, with the state holding 12.24% | verified | independent | montenegrobusiness.eu |
| Luštica Bay is about 10% complete | verified | independent | montenegrobusiness.eu |
| 25% of total development completed (developer statement) | contradicted | independent | en.mdrealty.me |
| More than 700 families from over 50 countries live in the resort | not verified yet | baerz.com | |
| Wastewater construction permit for phase I-b2 issued 25 Jul 2025 | verified | independent | montenegrobusiness.eu |
| Construction start June 2013 | contradicted | independent | montenegrobusiness.eu |
| Expected completion December 2028 | not verified yet | baerz.com | |
| Full 18-hole golf course completed end 2028 | not verified yet | independent | golfbusinessnews.com |
| First nine holes open in 2026 (Sept 2025 statement) | contradicted | independent | montenegrobusiness.eu |
| Historical average annual appreciation about 13% | not verified yet | baerz.com | |
| Prices from EUR 859,000 | not verified yet | baerz.com | |
| Developer revenue EUR 90.3m and net profit EUR 0.57m in 2025 | verified | independent | bankar.me |
What changed, with dates
- 5 Nov 2026 · Hourly page check: developer page states construction at 10%, a claim to compare with photos or satellite (SHA-256 011225964c758bb9...) baerz.com
- Fingerprint of the developer page text on 5 Nov 2026: SHA-256
011225964c758bb9.... Anyone can check it on kolaboro.com/verify. kolaboro.com/verify - Satellite comparison (Sentinel-2, same season a year apart) on 5 Nov 2026: visible change, 36.5% of the area changed. kolaboro.com/satellite
Public reports
What public sources report, with the link. We list reports; we do not judge the developer.
- No reports of disputes, regulator action, stoppages or financial difficulty found in the sources we read.
About the developer
- Founded: 2008 baerz.com
- Head office: Tivat, Montenegro baerz.com
- Legal entity: Luštica Development AD (majority Orascom Development Holding AG, SIX Swiss Exchange) baerz.com
- Units delivered: 470 baerz.com
- Listed or audited: Parent Orascom Development Holding listed on SIX Swiss Exchange; Luštica Development 2025 financials reported (revenue EUR 90.3m) baerz.com
- Government data reported in press: about 450 apartments, 20 houses/villas, 2 hotels delivered by mid-2025; parent Orascom Development is listed with audited reports baerz.com
Similar projects
- New residential complex in Dubovica Montenegro · under construction
- Boka Place Montenegro · completed
- Promenade Montenegro · under construction
- Vero & Versa Residences Montenegro · off-plan
- Boka Verde Montenegro · under construction
Market context: Montenegro
- We track 8 projects in Montenegro. 13% publish a permit or licence number and 13% state deposit protection. kolaboro.com/m
Buyer reviews
There are no verified buyer reviews of The Peaks, Luštica Bay yet. We publish a review only from a buyer who proves the purchase (fingerprint of the contract or receipt, signed with a passkey) and only after a moderator has read it.
Reviews waiting for moderation are not shown.
Right of reply
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Before you pay
Paste the project link for a free live check of what official registers say. For a full desk review and a site visit by a local agent, order the pre-purchase check.
Questions buyers ask
Is The Peaks, Luštica Bay legit?
Kolaboro does not label projects or developers. What the public record shows: No permit or licence number is published in the sources we read. Of 12 developer claims we checked, 4 are confirmed by a register or an independent source, 5 are not yet verified and 3 are contradicted by another source. The handover date on record is December 2028. No reports of disputes, regulator action, stoppages or financial difficulty found in the sources we read. Check the sources on this page and ask the developer for documents before paying.
When will The Peaks, Luštica Bay be delivered?
The handover date on record is December 2028.
Who is the developer of The Peaks, Luštica Bay?
Luštica Bay, according to the sources listed on this page.
Does The Peaks, Luštica Bay have a permit or licence?
No permit or licence number is published in the sources we read.
Are there reviews of The Peaks, Luštica Bay?
There are no verified buyer reviews yet. Buyers who prove their purchase can submit one; it is published after moderation.
Sources
Every fact on this page links to its source. Pages we read are fingerprinted and kept by date.
- baerz.com https://www.baerz.com/en/tivat/lutica-bay-the-prime-adriatic-destination-the-peaks-montene...
- montenegrobusiness.eu https://montenegrobusiness.eu/lustica-bay-advances-infrastructure-for-13-new-golf-residenc...
- bankar.me https://bankar.me/clanci/kako-se-upravlja-sa-tri-najveca-crnogorska-resorta-190-miliona-eu...
- en.mdrealty.me https://en.mdrealty.me/2025/08/04/lustica-bay-over-600-million-investment/
- golfbusinessnews.com https://www.golfbusinessnews.com/news/property/lustica-bay-launches-new-range-of-townhouse...
- omniacapitalgroup.com https://www.omniacapitalgroup.com/en/developments/the-peaks-lustica-bay
Last checked 5 Nov 2026. How we collect data: data policy. Facts quoted from sources are shown in the language of the source.