Without holding a session and based on the obtained consent of the majority of its members, the Government of Montenegro accepted the proposal to include the project of building a 4-star hotel and seven villas in Žabljak on the List of development projects in the field of tourism. Currently, there are 14 investments on the list of development projects, based on which it is possible to obtain economic citizenship of Montenegro, writes Dnevne Novine daily.
The company ‘Durmitor Development’ from Nikšić submitted to the Ministry of Sustainable Development and Tourism an application for a public call, along with accompanying documentation – business plan, revised main project, certificates of available funds for project funding, founding acts and other documents relevant to the project.
“The documents say, among other things, that an investment is planned in Žabljak, that is, to build a hotel according to the classic four-star business model, including 35 accommodation units (24 in the hotel and 11 in villas), with 88 beds (46 in the hotel and 42 in villas). The value of the project is €20.47 million, and the investor’s intention is to open 43 new jobs within the complex,” the Government explained.
In order to confirm the availability of funds for the project, the applicant submitted an irrevocable bank guarantee issued by Hipotekarna banka, payable on the first call, in the amount of €2.5 million with a validity period until 11 November 2023, which is the deadline presented in the submitted dynamic investment plan. At the same time, the applicant stated that he would finance the total investment from the company’s own funds.
