The Russian investor company Dobrov & Family Group plans to invest 60 million euros (68 million dollars) in the construction of a five-star hotel in Budva, Montenegro, reported the government of Montenegro.
Construction of the hotel, which will be located on Crvena Glavica beach near the tourist village of Sveti Stefan, will be completed by the end of 2024, the government said in a statement.
Investor Dobrov & Family Group
Dobrov & Family Group is considering a partnership with one of the world's largest hotel brands, which will take over the management of the hotel, the government said after a meeting between Deputy Prime Minister Dritan Abazovic and representatives of the Russian company.
Dobrov & Family Group belongs to Russian businessman Andrey Dobrov, whose fortune Forbes estimates at 500 million dollars.