To the list of development projects in the tourism sector to receive Montenegrin passport Within the framework of the economic citizenship project, two new facilities were included - the President Hotel in Budva and an apart-hotel in Tivat. Such a decision accepted Government at a recent meeting, accepting the proposal of the Ministry of Economic Development and Tourism.
The planned investment in Budva involves the construction of a five-star hotel in close proximity to the city's marina and the Old Town based on a mixed business model with 154 accommodation units and an estimated cost of EUR 51,37 million. The investor is ALK Nekretnine from Podgorica. 123 new jobs are planned in the new hotel.
The opening of the hotel is scheduled for May 1, 2026. According to forecasts, the investment should pay off in 12 years of project implementation.
A consortium consisting of ALK Montenegro and Sofir plans to build a five-star condo hotel in Tivat, in close proximity to the sea coast and the city's main pier. The facility will consist of 77 accommodation units and has an estimated cost of 22,77 million euros. Investors plan to create 82 new jobs. The plan provides that all work will be completed no later than March 31, 2026.
Both projects were provided with a bank guarantee of one million euros.
The state project for obtaining Montenegrin citizenship in exchange for investments was launched at the beginning of 2019 and will last until the end of this year, as the European Commission has recommended that Montenegro cancel the investor citizenship scheme due to the risks it poses. The project has brought in 310 million euros so far.
