September 25 (SeeNews) - Croatia's government said it is giving an additional year to the buyer of abandoned former state-owned Czech Villa property on the island of Vis to complete its reconstruction and conversion into a hotel.
The extension is given as the coronavirus crisis has prevented the buyer, foreign businessman Philip Vermeulen, from fulfilling his obligations under the contract signed with the government in February 2019, the government said in a statement on Thursday.
Economy minister Darko Horvat said in the statement that the deadline for completion of the project was extended to 48 months from 36 months.
Last year, the government sold Czech Villa to Vis-based company Philip Vermeulen d.o.o. for 32.2 million kuna ($5.0 million/4.3 million euro).
The project includes the reconstruction of nearby buildings, as well as the construction of new accommodations units and catering facilities, the state property ministry said earlier.
The Czech Villa property has a long history, having served many purposes over the years. Most recently, it was used by the Yugoslav People's Army in the 1990s. The complex has, however, stood empty for the past 20 years and over.
(1 euro = 7.55056 kuna)