The Government of Montenegro has announced details of a project to build an exclusive tourist complex in Čanj worth 77 million euros. The complex is expected to create 241 jobs.
The investor is the company Amma Resort, headquartered in Podgorica, and the ultimate owner is the Čelebić Group.
According to the document, in October Amma Resort submitted a tender application with supporting documentation: a business plan, a revised main design, founding acts, 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 the public tender.
“The documentation states that the planned investment includes the construction of a five-star Amma Resort hotel complex under a mixed model in Čanj. The hotel complex will have a total capacity of 483 units, of which 241 will be in the hotel itself, and another 242 in eight luxury villas,” the statement says.
The total investment is estimated at 77.01 million euros (including VAT). In order to confirm the availability of financial resources for the project’s implementation, the applicant submitted a corporate guarantee issued by LLC Čelebić as the founder of Amma Resort, in the amount of 15 million euros, in favor of the Government of Montenegro.
The documentation also includes an application for the construction of the hotel complex dated October 16, 2020, and an inspection supervision report dated October 30, 2020. It was stated that the application was submitted 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 after 11 years and 9 months from the start of the hotel’s operation. The Government also submitted an Opinion stating that this project is important for Montenegrin tourism.