Tivat, (MINA-BUSINESS) – Oudad W. Kheir is the new Chief Executive Officer of Lustica Bay. 

Kheir assumed the position on 1 January, following a period of intensive familiarization with the team, residents, local partners, and the destination.

“This appointment confirms the corporate culture and vision of Orascom Development, the investor whose portfolio includes Lustica Bay, and which is based on strong local leadership and the exchange of experience within a network of globally integrated destinations,” Lustica Bay said in a press release.

Kheir comes to Montenegro from El Gouna in Egypt, Orascom Development’s flagship project, where he served for six years as Chief Operations Officer of the destination.

He said that Lustica Bay is a developing vision entering its most important phase.

 “During my first weeks here, I was particularly impressed by the loyalty of our residents – the reinvestment rate is among the highest within the Orascom Development portfolio. That trust is the foundation for the next phase of development,” Kheir said.

According to him, Lustica Bay is at a turning point – with new neighbourhoods such as The Peaks and Horizon, the perception of a small community formed by Marina Village and Centrale is evolving into a diverse offering for different segments and interests.

“In practice, Lustica Bay must address questions related to lifestyle, activities, length of stay, amenities for all generations, wellbeing programmes, nautical activities, and many other interests. Town services and facilities, once considered added value, have now become essential for attracting new residents and visitors,” Kheir said.

Before this role, Kheir managed the complex system of El Gouna, a community with more than 25,000 residents and 2,500 employees.