Tenders announced for construction of hotel complex in vicinity of Great Beach near Ulcinj and tourism facilities on Ada Bojana

(Great Beach)

Montenegrin Government announced the tender for construction of hotel complex in the vicinity of Great Beach near Ulcinj and the tender for rental and construction of tourism facilities on Ada Bojana on March 28th.

The Government offered 903 ha of land in the vicinity of Great Beach for rent on 90 years at the price of 0.15 EUR per square meters, that is, 2m EUR per year.

All interested potential renters will have to offer minimum 1 billion EUR worth of investment programme during the first three years, and the implementation of that programme should be followed by the investments worth, at least, 3 billion EUR.

- Having in mind the complexity of the complete project that includes construction of the entire infrastructure of the hotel-tourism capacities, we should expect the construction works on the complex in the vicinity of Great Beach to last for 20 years – said Branimir Gvozdenović, the Minister of Economy of Montenegro.

All companies and consortiums that have built similar 1 billion EUR worth of projects of minimum gross surface of 750,000 square meters over the last eight years can bid on the tender, which will be open prior to September 1st.

The bid must contain the letter of intent of the company that will run the complex and whose minimum annual turnover in the last two years amounts to 400m EUR.

All interested companies have to submit 1m EUR worth of unconditional banking guarantees along with their bids.

Hungarian “Trigranit” and “Abu Dhabi Holding” from the Near East are interested in construction of tourism capacities at Great Beach.

When it comes to Ada Bojana, the investors will be offered 600 ha of state-owned land for rent on 90 years, while the bidder will be obliged to preserve the natural reserve for birds in the hinterland.

Interested investor will have to offer minimum investment of 200m EUR and 2,500 beds in hotel capacities, so that it is possible that the construction of residential facilities will be “limited”.

Future renter must have annual turnover of minimum 400m EUR in the last few years, as well as minimum 1 billion EUR worth of realized investments.

Vlada Crne Gore

Ministarstvo ekonomskog razvoja Crne Gore

TriGranit Development Corporation Budapest

Great Beach Ulcinj

Ada Bojana

Branimir Gvozdenović

Abu Dabi holding