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FLH to develop eco-friendly village in Montenegro

Jul 10, 2024, 12:37:02 PMArticle by Iskra Pavlova
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July 10 (SeeNews) - UK-based FLH - Future Living & Hospitality Ltd plans to invest some 1.4 billion euro ($1.5 billion) in a sustainable village project in Montenegro designed for elderly people and tourists, the Montenegrin spatial planning ministry said.

FLH to develop eco-friendly village in Montenegro
FLH representatives meet spatial planning minister Janko Odovic/Photo: Montenegrin spatial planning ministry

FLH plans to build a village that will produce its own water, electricity, and food. The village will accommodate about 5,000 elderly residents, cater to 3,000 guests, and provide employment for 2,400 people, the ministry said in a statement on Tuesday.

The statement was issued following a meeting between FLH representatives and spatial planning minister Janko Odovic in Podgorica.

This will be one of the first projects in the world developed in line with the United Nations' 2030 Agenda for Sustainable Development, the statement read.

Once the first phase is completed, FLH is interested in investing a further 1.0 billion euro in expanding the project, creating more new jobs, the ministry noted.

According to a Tuesday report by regional news wire eKapija, based on information of the spatial planning ministry, the European Bank for Reconstruction and Development (EBRD), the World Bank and other international financial institutions have expressed interest in participating in the project.

FLH plans to develop the village close to Montenegro's Adriatic coast, but is also open to other locations such as the capital Podgorica, the central towns of Danilovgrad and Niksic, as well as the former royal capital of Cetinje, eKapija reported, citing the ministry.

($ = 0.925 euro)

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