Qatar Diar plans investment in Montenegro resort

Qatar Diar plans investment in Montenegro resort

Qatari Diar Real Estate Investment Company plans to invest €250 million in a new luxury resort in Montenegro, media reported on 13 November. Following the takeover of an existing hotel in a bay near the city of Tivat, the company will redevelop the 24 hectare site over the next two to two-and-a-half years.

The Adriatic resort will include a luxury hotel, villas and apartments, sports facilities and shopping malls.

The complex will have about 100 hotel rooms, as well as residential villas and apartments.

It is the fourth project that Qatari Diar is building in Europe and during the first phase, Qatari Diar will invest €42 million, officials added.

Although the tourism industry in Montenegro is seasonal, Qatari Diar said it expects the resort to be open all year round.

Montenegro’s Finance Minister Radoje Zugic reportedly met with the Qatari Diar Hotel Property Investment Montenegro Executive Director Dino Greg Bankhurstom.

Bankhurst presented plans Qatari Diar company, when it comes to building a luxury tourist complex in Montenegro.

Zugic said he believes the luxury complex significantly enrich the tourist offer of Montenegro and contribute to positioning the country as a tourism destination of class. “The Government of Montenegro and Qatari Diar have a common interest that the project is successfully implemented,” Zugic said.

He added that the investment positively affects employment growth and budget revenues. He expressed full readiness of the Montenegrin government to provide all the necessary support.