A new five-star hotel will be built in Tivat


The Ministry of Finance of Montenegro has organized an open tender for a 30-year lease of 24 sq. m of land in the village of Durashevichi, near Tivat. The winning investor is required to build an exclusive five-star hotel with associated amenities.

All interested parties can participate in the tender, including consortia that purchase tender documents and sign a Data Privacy Statement.

The Bidder must post a bond or provide a bank guarantee in favor of the Ministry of Finance in the amount of EUR 100 issued by a bank rated at least BBB by Standard and Poor's or by a bank approved by the Tender Commission.

The commission for the purchase of tender documents is 30 euros.

A number of requirements are put forward for the future investor. Among them - the presence of at least two hotel complexes of the five-star category, at least five years of continuous experience in managing such hotels and marinas. Also, the applicant must have property worth at least 30 million euros.

In addition, the investor must have proof that he has received at least 20 million euros in profit in the last five years of work.

The applicant is expected to offer a minimum price of € 64 at an annual level and present an investment program describing the structure and dynamics of the investment. The investment program must be insured with an acceptable bank guarantee.

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