Chinese company invests in Croatia

Chinese company Zhongya Real Estate plans to launch construction works on a US$30 million/€27 million tourism project, which will include health tourism and Chinese medicine, in Croatia in 2020. The company is looking for other health tourism buys or builds in Croatia such as spas, hotels, spa hotels, villas and retirement homes.

The Croatian government has sold Hotel Zagorje in Kumrovec, a former political school 60 km from the capital Zagreb, to the only bidder, Zhongya. For 14.1 million kuna (US$2.1 million) the buyer has pledged to develop congress and health tourism at the location.

The plan is to build a four-star hotel that is both a congress centre and health tourism destination for European and Chinese visitors.

The company plans to build a traditional Chinese medicine centre in the mountainous resort of Krapinske Toplice in the Nnorth, as part of a €20 million (US$22 million) investment programme. The centre will be located at the site of an existing hotel, which the Chinese investor recently bought and plans to renovate.

Other plans include a new hotel in Krapinske Toplice, and a nursing home for elderly people in an, as yet, unknown destination.

Zhongya has also bid to operate Croatia’s Osijek airport. The government in Zagreb controls 55% of Osijek airport, while the remaining 45% is owned by the government of Osijek-Baranja county in north-eastern Croatia, where the airport is located.