The Municipality of Budva has submitted a bid of €6.9 million to purchase the old Jugoslavensko Rječno Brodarstvo (JRB) building near the Old Town, following a sale announced by the bankruptcy administrator of the struggling Podgorica company Vektra Montenegro, owned by businessman Dragan Brković.
Budva Mayor Nikola Jovanović confirmed that the municipal assembly authorized the submission of the bid last week. Around ten companies and individuals expressed interest in the process, with bid openings scheduled for today at noon.
The municipality’s offer matches the starting price of €6,902,789.20 set by the bankruptcy administrator. The JRB building covers 815 square meters, including residential and commercial spaces. The land remains under dispute and will be resolved through legal proceedings with the state. If proven to belong to the state, the municipality may receive it for free; otherwise, it can purchase it at market value.
Mayor Jovanović emphasized that the acquisition aims to preserve Budva’s cultural and historical heritage.
