The government of Montenegro has released the details of the project for the construction of an exclusive tourist complex in Chani worth 77 million euros. The complex is expected to create 241 jobs.
The investor is Amma Resort, headquartered in Podgorica, and the ultimate owner is the Celebic Group.
According to the document, Amma Resort applied for a tender in October with accompanying documentation: a business plan, revised main project, articles of association and other documentation related to the project. The Ministry of Sustainable Development and Tourism analyzed the submitted documentation for compliance with the criteria specified in the Decision and an open tender.
“The documentation indicates that the planned investments include the construction of a five-star Amma Resort, a mixed model in Chani. The hotel complex will have a total capacity of 483 units, of which 241 - in the hotel itself, and another 242 - in eight luxury villas, ”the statement said.
The total investment is estimated at 77,01 million euros (including VAT). In order to confirm the availability of financial resources for the implementation of the project, the applicant submitted a corporate guarantee issued by LLC Chelebich as the founder of Amma Resort in the amount of 15 million euros in favor of the government of Montenegro.
The documentation also contains an application for the construction of a hotel complex dated October 16, 2020 and an inspection supervision protocol dated October 30, 2020. It was said that the application was filed in accordance with Article 91 of the Law on Spatial Planning and Building Structures.
On the other hand, the business plan states that the return on investment is expected in 11 years and 9 months after the hotel starts operating. The government has also presented a Conclusion, which indicates that this project is important for Montenegrin tourism.
