Ulcinj Riviera will soon become a user, and then the owner of nearly a million square meters of land on the Long Beach and Ada, and the intention is to accelerate the process of privatization.
The company has so far been only the owner of the hotels even without the right to use the land under the hotel complex which is why and failed all previous tenders for privatization of this enterprise.
By Decision of the Government, the Riviera will get about 335 thousand square meters land on the Long beach, where there are hotels Olympic and Bellevue, and over 660,000 square meters in Ada where is the nudist resort. The reasoning of the decision of the Government stated that the current Ulcinj’s Riviera legal successor of the former state company which is why it deserves the right to use and is used for performing activities of the company.
Director of Ulcinj Riviera Radomir Mikan Zec said that the registration of ownership prerequisite for privatization.
Already occur investors interested in the privatization of the company, and after the adoption of the government’s decisions has increased and the value of the shares. The Government announced that this year will publish a new tender for the privatization of Ulcinj’s Riviera
The government has since 2009 published several tenders for Ada Bojana and Long Beach, but without success although the ruling family Al Nahyan of Abu Dhabi was announced as a reliable partner in which to invest billions of euros.