€1,7 billion invested in projects on the coast
Coronavirus has seriously affected tourist season in Montenegro and projects in that sector. For 14 years of independence, renowned investors have been choosing Montenegro as prestigious destination that’s worth it. The situation hasn’t changed. On the contrary.
On the coast almost €1,7 billion has been invested so far, mostly in the Municipality of Tivat.
The project includes construction of a marina for yachts of all sizes, a five-star hotel, luxurious apartments, restaurants, bars, coffee shops, gallery, nautical museum and other tourist and commercial amenities. Plans are afoot for the construction of Boka Place hotel, worth €43,67 million.
This complex will encompass the most luxurious hotels, marina for super-yachts, business and entertainment amenities, conference and meeting halls, hotel beach and other accompanying facilities.
Total investment program encompasses seven hotels, 1.250 residential units, Talaso centre, two marinas with berths and accompanying facilities, golf terrain, conference center…
In April 2013, Qatari Diar company concluded agreement on lease of Pržno beach in Tivat for the period of 30 years. The plan is to build a prestigious resort. The project is worth €250 million.
It will become a unique five stars hotel with 34 rooms, hospitality facilities, sport, educational and other accompanying facilities. The value of the investment agreed with Orascom is €15 million.
Kraljičina plaža hotel will have five stars and 126 accommodation units and the company Adriatic Properties will invest not less than €110 million.
HTP ULCINJSKA RIVIJERA
Agreement on lease of HTP Ulcinjska Rivijera was signed with the Consortium Karisma Hotels Adriatic Montenegro. Total value of the investment is €31,83 million.
Northstar consortium from Podgorica and Equest Capital Limited Jersey (Great Britain) have obliged to invest €80 million minimum in the project and additional €130 million later. Resort Ritz Carlton Montenegro will be a hotel of 300 units, mixed model of operation. The first construction phase is expected to be finished in the summer of 2023.
The construction of the condo hotel is expected to begin this summer.
“THE CHEDI” IN ŽABLJAK
Former military and tourist complex “Mediteran” in Žabljak, will finally get its new spirit. Investment program envisages construction of the exclusive, ecologically sustainable five-star hotel.