Deals
Dubrovnik’s Delayed Villas Highlight Obstacles for Barclays
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Seven years after a group of investors represented by Barclays Plc and Equity Trust (Jersey) Ltd. bought land for building on Croatia’s coast, their plan to build 26 villas in the hills above Dubrovnik remains on hold.
Three levels of government must still sign off on the 36 million-euro ($46-million) project. The biggest obstacle: The development mustn’t be visible from anywhere else in the city, according to the district government’s interpretation of the building code in the nation’s most-visited Adriatic Sea resort.