Alart Centar acquires permit for raising Porto Budva complex – Value of investment EUR 50 million

The Municipality of Budva issued a building permit for construction of luxury complex Porto Budva near Stari Grad to Alart Centar, after the company of businessmen Naser Ramaj and Alen Sijaric paid EUR 4 million in utility expenses, Vijesti reports.

On 6,000 square meters of land, next to the central kindergarten, 18,000 square meters of residential-commercial space and 8,000 square meters of commercial space should be built.

The acquisition of the permit puts an end to a nine-month procedure, whereby Alart Centar is now authorized for all the phases of construction. The company had a permit for the construction of underground garages and those works are well on their way.

The project entails the construction of a shopping center with eight floors, a residential part, spa-centers and other features.

Porto Budva will cost more than EUR 50 million, and the company has already invested ten million. Nearly half of the apartments and commercial facilities have already been sold and entered at the land register.

The big opening of the complex is planned for the 2019 season.

Opština Budva

Alart centar Budva CG doo Budva

Municipality of Budva

Alart Centar

Porto Budva

Naser Ramaj

Alen Sijaric