NewsInvestment in priority projects on the coast exceeded 2.2 billion - In...

Investment in priority projects on the coast exceeded 2.2 billion – In Tivat, investments worth around 1.3 billion EUR are realized

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More than EUR 2.2 billion has been invested in priority projects in the field of tourism that are implemented on the coast since the beginning of implementation. Of that, the largest amount was invested in the territory of the municipality of Tivat – EUR 1.3 billion. EUR 865.4 million was invested in projects in Herceg Novi, EUR 26 million in Ulcinj, while projects worth EUR 11.7 million are being implemented in Budva.

This can be seen in the information on the implementation of priority projects in the field of tourism, which was adopted by the Government at the last session. In addition to the projects on the coast, the implementation of investments in the north is underway.

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When it comes to the tourist valorization of the localities in the area of ​​Bjelasica and Komovo in the current period, the Contract for the lease of the location of the mountain center Kolašin 1600, where the construction of a hotel-tourist complex with a total value of 77 million EUR, has come into force. In the reporting period, work continued on the Hotel K16 facility and on the apartment facility Q – the information states.

It was also stated that for the location of the Mediteran military tourism complex in Žabljak, the procedure for verifying the submitted construction application was terminated, in accordance with the opinion of UNESCO. In the meantime, the investor filed a claim for damages.

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Among the priority projects in the field of tourism are the valorization of localities in the areas of Bjelasica and Durmitor; construction of the tourist complex, marina and supporting infrastructure Porto Montenegro in Tivat, construction of the Portonovi tourist complex in Kumbor, and the Luštica Bay tourist complex, also in Tivat.

The list also includes the construction of the Plavi horizonti tourist complex in Tivat, the reconstruction of the Mamula fortress on the island of Lastavica in Herceg Novi, the construction of the Hotel Kraljičina plaža on Sveti Stefan, and the touristic valorization of part of the property of the HTP Ulcinjska Riviera – the Bellevue and Olympic hotels and the construction of the Montrose tourist complex (Ritz Carlton Montenegro).

In the preparation of the information, the data available to the Ministry of Economic Development and Tourism and the Investment Agency of Montenegro were used, in the part of monitoring contractual obligations on the projects in question, as well as from the reports of engaged independent controllers to monitor the implementation of investment activities.

Also, the project companies were asked for specific information about the implemented activities on the project, with financial data. The data was provided by the companies Azmont Investments, Adriatic Marinas, Luštica Development, QD Hotel and Property Investment Montenegro, OHM Mamula Montenegro and Karisma Montenegro.


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