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Royal Group Bought The Queens Beach in Montenegro

"queens-beach-montenegro.jpg"Concern “Royal Group” from the United Arab Emirates, based in Abu Dhabi, offered 21.188 million euro for the purchase of 42.37 acres of land in the hinterland of the Queens beach in Montenegro, on the border between the municipalities of Bar and Budva, where they plan to in the next eight years build 180 million euro luxury hotel complex.

Through an international tender, which formally ended the opening of tenders, the Arabs acted as sole providers through its daughter company of Montenegro “Queen’s Beach Development Company” DOO.

 

Sale of 423,000 square meters in Dubovica, of which 188,000 square meters owned by the Municipality of Bar, and 230,000 square meters owned by the Municipality of Budva. One of the limiting conditions was that the bidder for the last three years invested at least 150 million euros, they have brought evidence that they have invested a billion and a half euros, the second condition was to have built at least 300,000 square matter of hotel rooms, and they have built more than one million square meters, “said Simovic, who leads the nine-member commission tender in which three representatives of the Government and the municipalities of Bar and Budva.

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Speaking to reporters after the opening of bids, Simovic said that the tender required that the first phase of the investment cycle are build central infrastructure facilities – hotel, spa and marina, “as the bidders and accepted.”
Concern Royal Group from Abu Dhaby have submitted the required bank guarantee and the offer of half a million of the eligible bank, which, in the event that negotiations fail, and because of bidder mistake, money automatically go to the account of the two municipalities. I hope that this will not happen and that negotiations will be successfully completed in order, as stated in their investment plan, to this year began construction of this great project.

Representatives of the bidder lawyers Goran Martinovic and Svetlana Curic have not commented on the tender, citing the confidentiality of the information in this tender stage .

 

 

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