The Ministry of Finance of Montenegro has announced an open tender for a 30-year lease of 24,751 sq. m of land in the settlement of Đuraševići, near Tivat. The investor who wins the tender is required to build an exclusive five-star hotel with accompanying amenities.
All interested parties may participate in the tender, including consortia that purchase the tender documentation and sign the Data Confidentiality Protection Statement.
The bidder must provide a deposit or a bank guarantee in favor of the Ministry of Finance in the amount of 100,000 euros, issued by a bank with a rating of at least BBB, according to Standard and Poor’s, or by a bank approved by the Tender Commission.
The fee for obtaining the tender documentation is 30,000 euros.
A number of requirements are set for the future investor. Among them are at least two five-star hotel complexes, at least five years of continuous experience managing such hotels and marinas. The applicant must also have assets worth at least 30 million euros.
In addition, the investor must provide proof that they have earned at least 20 million euros in profit over the last five years of operation.
The applicant is expected to offer a minimum price of 64,250 euros on an annual basis and submit an investment program describing the structure and dynamics of the investment. The investment program must be secured by an acceptable bank guarantee.