EFG Kirkwood Capital companies.
The protocols were countersigned and endorsed by War Veterans Minister and Deputy PM Jadranka Kosor.
UHVDDR president Djuro Decak said the project envisaged the purchase of flats at 600 euros per square metre, considerably less than the market price, and at a favourable long term payment.
EFG director Berislav Hrlec said construction was expected to start early next year. He added the Swiss partners would provide modern technology and use Croatian materials.
The president of the Swiss company, Paul Bartlett, said other countries, like Turkey, Iran and Russia, were also interested in this model. He added this project was also significant because it was countersigned by a deputy PM.
Kosor said her ministry sill had 12,000 housing applications, adding that papers would soon be finalised for 411 new flats and that 249 flats in a dozen towns would be completed this year.