MK Group invests 700 million euros in "Slovenska plaža" and the development of tourism in Montenegro
MK Group has presented the authorities of Montenegro with an initiative that provides for the renovation of the "Slovenska plaža" tourist complex, the reconstruction of the "Aleksandar" hotel, the construction of new five-star hotels, and a modern congress center....
MK Group has presented the authorities of Montenegro with an initiative that provides for the renovation of the "Slovenska plaža" tourist complex, the reconstruction of the "Aleksandar" hotel, the construction of new five-star hotels, and a modern congress center. The total cost of the project is estimated at 700 million euros, with a key focus on sustainable development, the preservation of green areas, and the modernization of Budva’s infrastructure.
The MK Group initiative
In an official address to the Government of Montenegro and the Council for Privatization and Capital Projects, MK Group outlined the strategic development direction of HG Budvanska Rivijera. In addition, the letter of intent was delivered to Nikola Jovanović, the Mayor of Budva.
The company emphasizes, that the project is aimed not only at the economic growth of the region, but also at improving the quality of life of local residents. The plan is to create a balance between modern architectural solutions and the preservation of the natural environment. More 100,000 m² of green areas will be preserved and integrated into the new look of the resort complex.
What does the Budva transformation project include?
The future modernization will cover several areas at once:
Reconstruction of existing facilities — renovation of the "Aleksandar" hotel and the entire "Slovenska plaža" complex.
Construction of new 5★ hotels — to attract high-end tourists.
Congress center
— a modern space that will allow Budva to become a year-round destination, not just a summer resort.
Underground parking — a solution to the problem of traffic congestion that has troubled residents and visitors to the city for years.
Modern infrastructure — the creation of comfortable areas for leisure, recreation, and cultural events.
According to Budva Mayor Nikola Jovanović, the project will not only improve the region’s tourist appeal, but also create new jobs, support small businesses, and strengthen Montenegro’s international image as a high-level tourist center.
Conceptual solutions proposed by the working group:
Sustainable development and world-class architectural solutions
To implement the project, MK Group brought in leading global experts. The architectural concept was developed by the British company Make, known for its innovative and eco-friendly projects in London, Hong Kong, and Shanghai.
In addition, the following have joined the work:
Aspect Studios (London) — one of the world’s leading firms in landscape architecture and master planning;
MSTEP (London) — a team of sustainable development experts.
Architect Katie Gahremani, director of the Make studio, noted that special attention is being paid to preserving green areas and open sea views:
“The project’s main priority is to ensure the harmonious development of Budva while preserving all natural resources. We have done everything possible to preserve the green areas and integrate them into the complex’s new appearance. This will not only renew «Slovenska plaža», but also transform the entire cityscape”.
Impact on the economy and the local community
It is expected that the implementation of the project will bring numerous benefits to Budva’s economy and residents:
Creation of new jobs — both in the construction industry and in the service and tourism sectors.
Growth in the income of small and medium-sized businesses — cafes, restaurants, shops, and service companies will receive an additional flow of customers.
International recognition of Budva — the city’s new image will attract tourists from premium segments, increasing tourism profitability.
Development of year-round tourism — the congress center will make it possible to organize international conferences and events throughout the year.
About MK Group
The company MK Group has been actively operating in the Montenegrin market for more than ten years and owns 33.58% of HG Budvanska Rivijera shares. Overall, the group has been a leader for more than 40 years in the fields of:
tourism and hospitality,
real estate,
agriculture,
renewable energy sources.
With more than 4,000 employees and projects across the Adriatic region, MK Group has established itself as an investor that combines a sustainable approach with care for local communities.
Global partners: Make and Aspect Studios
The architectural firm Make has completed more than 100 projects worldwide over 20 years of work. The company’s philosophy is based on creating inspiring and eco-friendly spaces, and its goal is to achieve full carbon neutrality in all projects by 2030.
Aspect Studios contributes to the project by developing the concept for landscaping and public spaces in order to maintain a balance between urbanization and nature.
The MK Group project worth 700 million euros is a unique opportunity for Budva to reach a new level of development. While Montenegro strives for sustainable tourism and European standards, the company’s initiative becomes an example of responsible and long-term investment.
