1. PROJECT TITLE

CONSTRUCTION OF THE TOURIST COMPLEX “BIKAVAC” IN VIŠEGRAD

2. SECTOR

Tourism (hotel, catering, apartment tourism, wellness, recreation)

3. LOCATION

Tourist Complex “Bikavac”, Višegrad; Bikavac bb, 73240 Višegrad, Republika Srpska, Bosnia and Herzegovina
Cadastral Municipality Višegrad 1; Cadastral number: cp 1865 (Sheet undeveloped no. 214)
Brief description of location: Inner city area, about 300 m from the Mehmed Pasha Sokolović Bridge and the city square, 400 m from Andrićgrad and the Drina River – a central tourist location with quick access to the main attractions.

4. BRIEF PROJECT DESCRIPTION

The project involves the reconstruction or completely new construction and expansion of the devastated complex of the former hotel “Bikavac” (inactive for more than 30 years) into a high-class hotel with apartments. It includes: renovation or new construction of facilities, construction of bungalows with apartments, a hotel with a wellness center, sports and recreational fields and accompanying facilities. The location on a large plot in the heart of the tourist center of Višegrad allows for rapid development and high tourist potential due to the proximity of the UNESCO monument (Old Bridge), Andrićgrad and natural attractions.

5. PROJECT DETAILS

5.1. WHAT TYPE OF PROJECT IT IS?

Construction, reconstruction, adaptation and expansion of existing devastated facilities (former hotel with 11 bungalows) on developed construction land with basic infrastructure. 100% state ownership (Municipality of Višegrad), without shares in the existing company – possibility of transfer of rights according to agreement (sale, long-term lease, concession or public-private partnership).

5.2. PROJECT STATUS

The project is at the level of a business idea with a basic concept and an advertised location.

  • The location is registered in the cadastre and advertised on the website of the Municipality of Višegrad
  • No detailed feasibility study, main project or tender documentation has been completed – in the phase of attracting investors
  • Implementation (renovation or construction) has not started, the facilities are devastated and inactive

5.3. REASON TO INVEST IN PROJECT

  • Commercial interest is realized through high tourism revenue – seasonal and year-round income from accommodation, restaurants, wellness and additional services (conferences, cultural tourism).
  • Tourism boom in Višegrad – Andrićgrad, the old bridge (UNESCO), the Drina, cultural and natural potential attract more and more visitors (from Serbia, the region, the diaspora).
  • Central location – 300 m from key attractions, easy access, road network.
  • Infrastructure – existing connections (electricity, water, sewage), large plot for expansion.
  • Low competition in the segment – existing hotels (e.g. Višegrad, Andrićgrad) have a smaller capacity or a different category; not enough apartments and wellness.
  • Support – state ownership + local government facilitate procedures, possible tax breaks for tourism.
  • Growing demand – regional tourism (Serbia–BiH), cultural tourism
6. PROJECT FINANCING

6.1. ESTIMATED PROJECT VALUE IN EURO

The following estimates are purely informative. More information can be obtained from the Department of Spatial Planning and Housing and Communal Affairs of the Municipality of Višegrad. Estimated value: 3,000,000 – 6,000,000 euros (indicative, based on similar projects in the RS/region 2025–2026).

  • Reconstruction of existing facilities + renovation of bungalows: 1,000,000–2,000,000 euros.
  • New construction (hotel 100 beds, wellness, grounds, apartments): 1,500,000–3,000,000 euros.
  • Equipment, infrastructure, design: 500,000 – 1,000,000 euros.
  • Exact value requires feasibility study.

6.2. PLANNED SOURCES OF FINANCING

  • Fully private financing by investors (most common for tourism projects).
  • Public-private partnership (PPP) or concession with the Municipality of Višegrad.
  • Combination: private capital + loans (Investment and Development Bank of the Republic of Serbia, banks), tourism grants (EU funds, IPA, donors).

6.3. INPUTS BY LOCAL PARTNER

  • Transfer of ownership/use rights or long-term lease by agreement.
  • Support in permits, change of use, urban planning procedures.
  • Possible discounts on local taxes for tourist investments.

6.4. INPUTS BY INVESTOR

  • Financing of reconstruction, new construction and equipment.
  • Providing operating capital and management.
  • Marketing, employment, standards (4* category).
  • Long-term maintenance and development.
7. HAS PHYSICAL LOCATION FOR PROJECT IMPLEMENTATION BEEN IDENTIFIED

Yes – precisely determined and advertised.

  • Precise location: Complex Hotel “Bikavac”, Bikavac, cp 1865, cadastral unit Višegrad 1 (LN 214).
  • Planning document: Construction land, but no valid spatial planning documentation (needs to be finalized for expansions).
  • Property status: 100% owned by the Municipality of Višegrad, registered in the cadastre.
  • Level of supporting infrastructure: Basic – electricity, water, sewage, access roads; heating, internet, telephone are missing (possible to upgrade).
8. HAVE THE ACTIVITIES ON PROJECT IMPLEMENTATION ALREADY STARTED

No – activities have not started. Location advertised and available, facilities devastated. No study, tender or works.

9. PROJECT APPLICANT AND CONTACT INFORMATION

Municipality of Višegrad
Address: Andrićgrad bb, 73240 Višegrad
Phone: +387 (0)58 620 586
E-mail: nacvgd@teol.net
https://opstinavisegrad.com/kategorija/nekretnine-opstine-visegrad/