PODGORICA (Montenegro), July 26 (SeeNews) – Montenegro's government said it plans to launch a tender for the sale of a plot of land in the municipality of Bar, to be used for the construction of a five-star hotel, it said.
The plot of land spreads on 29,071 square metres and the government expects an investment of at least 50 million euro ($55.7 million) over a period of eight years, it said in a statement on Thursday.
The government will invite letters of intent for the project, signed by a reputable company that owns or operates at least two hotels or resorts of the five-star category. Bar does not have a five-star hotel in its area, and the construction of such a facility will contribute to the faster economic development of the municipality, the government said.
($ = 0.89773 euro)