March 15 (SeeNews) - Croatian hotel owner and manager Valamar Riviera [ZSE:RIVP] said it has signed an agreement with local construction company Kamgrad for the works on the Pical 5* resort.
Pical 5* will feature 513 accommodation units, ten themed restaurants and bars, a wellness centre, managed beaches and beach clubs, and outdoor and indoor swimming pools, Valamar Riviera said in a bourse filing on Thursday.
The resort is expected to be employ around 600 staff once it is completed in late 2025.
The value of the investment is 139 million euro ($151.4 million), according to an earlier statement by the company.
Valamar's shares traded down 0.40% at 4.93 euro intraday on Friday.
($ = 0.918 euro)