RIJEKA, Croatia / WASHINGTON, DC, Wednesday, March 11, 2019 — The Adriatic Luxury Towers is an American, European and Croatian residential development project, undertaken on the ancestral land belonging to the Srdoc family for nearly three hundred years, and will be led by Nataša Srdoč, MBA, economist, co-founder of the think tank International Leaders Summit and former corporate banker. The Adriatic Luxury Towers international team, including Natasha Srdoc and Joel Anand, entrepreneur, co-founder of International Leaders Summit and former executive in the publishing industry, estimates that foreign investment in Adriatic Luxury Towers will exceed €30 million euros.
The international private investors from strong rule of law nations are calling for full transparency into the City of Rijeka’s proceedings. US and EU taxpayers, who are contributing to the World Bank and EU funding which is reaching the City of Rijeka, are alarmed that their funding is sustaining corruption, abuse of power, breach of trust and collusion.
“By investing in the land that has been in our family ownership for centuries, we want to achieve economic benefits for the family, and the local community, “ said Natasha Srdoc, an investor in the Adriatic Luxury Towers. “We are calling on the City of Rijeka and Croatia’s Ministry of Construction and Physical Planning to immediately answer the question – What are the concrete steps, their well-defined sequence and timeline, which are necessary for starting the construction of Adriatic’s Luxury Towers?”
“The Adriatic Luxury Towers have the same square meters surface area, as the imposed repulsive object of reduced functionality, which the construction company G.P. Krk and the City of Rijeka drew and planned for privately owned land – without the consent of the owners, and paid by the City of Rijeka’s taxpayers,” said Natasha Srdoc.
Adriatic Luxury Towers will be built on the privately owned land:
Instead of an repulsive building, of the same square meters surface area, that is drawn on the private property of the Srdoč family without the consent of the owner:
When analyzing the adoption process of the the Detailed Plan of the Residential Martinkovac Area, it becomes clear how corrupt officials within the City of Rijeka deceive private property owners, protect the interests of the favored construction company G.P. Krk, at the expense of private owners and taxpayers.
In the example of the City of Rijeka, it is evident that Mayor Vojko Obersnel and local government heads collude with their shady private partners and accept investments of suspicious origin, while blocking the investments by honest investors and investors from the strong rule of law countries.
The American, European and Croatian investors will keep a public journal of every interaction with city authorities, including steps and procedures taken and efforts blocked – for the sake of transparency and to stop obstructions of private owners in the City of Rijeka and Croatia. A best practice will serve to combat corruption and eliminate barriers to local and foreign investments at Croatia’s national level as well.
For the past decades, the City of Rijeka has been violating individual private property rights – by direct seizure of property and through urban planning, using corrupt schemes to deprive private owners of potential property gains.
“This unique project will become a prominent international case study to assist British, European and US-elected officials and specifically the US Treasury Department in implementing the Global Magnitsky Act – a principled approach to punish foreign officials in cases of corruption and crime,” said Joel Anand, co-founder of US-based International Leaders Summit and a member of the international project team of Adriatic Luxury Towers.
“An international case study will serve the needs of donors, including the World Bank, the IMF, IFC, European Union institutions, EBRD, EIB and other donors, so that American and European Union taxpayers are not aiding and abetting corrupt City of Rijeka’s authorities and their private partners which are abusing private property rights and subverting the rule of law,” said Natasha Srdoč, an investor in Adriatic Luxury Towers and co-founder of the US-based think tank International Leaders Summit.
The investors believe in the multiple benefits of this private investment into Rijeka, Croatia. The new residents coming from countries which uphold the rule of law will contribute to higher domestic spending in Croatia, generate new content for the arts, cultural, sports and other activities, augment philanthropy and boost entrepreneurial activity and economic growth.
