Montenegro: Kempinski Group deal in March

The main tourist centre in Montenegro, Budva, is a large construction site, with new facilities being erected day-by-day.

According to the leading manager in the Budva District, Aleksandar Ticic, approximately EUR 1bn could be invested in building elite tourist facilities, ‘Serbia & Montenegro Today’ reports.

At the International Tourism Fair in Berlin, on March 8 and 9, representatives of Budva will attend the signing of the contract with Kempinski on building a hotel complex in Smokvica.The hotel chain Kempinski will sign the contract with the Russian company Was Invest, which had purchased about 200,000 square meters of land in Smokvica. The provisional contract was already signed with Kempinski Group in Budva, but the formal contract will be drafted in Berlin.

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