Source: Vijesti | Thursday, 02.10.2014.| 16:11

Will Qatari Diar build luxurious resort after all – Tivat municipality announces sale of lots in Plavi horioznti

The Tivat municipality released a public call for the sale of five its land lots in Przno, Plavi horizonti where the state-owned investment fund of Qatar, Qatari Diar, should have built a luxurious hotel-tourist five-star complex.

In late August, Qatar company announced that "problems in land acquistion curentlhy make the project at Plavi horizonti unsustainable”. Therefore, they halted it and are slowly leaving Montenegro.

The Government reacted to that September 4 with the decision on expropriation of eight private land lots, on almost 8,9 thousand square meters by providing “previous agreement ‘to Tivat municipality to sell five its lots on some 2,5 thousand square meters at the price of EUR 75,42 EUR per square meter.

The auction where Tivat municipal representatives and the Government of Montenegro strongly want to see representatives of Qatari Diar will be held October 16,starting at 10 a.m. at the building of the Tivat municipality.

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