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 Amma Resort, a company headquartered in Podgorica, while 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 project, founding acts, and other project-related documents. The Ministry of Sustainable Development and Tourism analyzed the submitted documentation for compliance with the criteria set out in the Decision and the public tender.
“The documentation states that the planned investment includes the construction of the 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 said.
The total investment is estimated at 77.01 million euros, including VAT. In order to confirm the availability of financial resources for the project, the applicant submitted a corporate guarantee issued by Čelebić LLC, as the founder of Amma Resort, in the amount of 15 million euros in favor of the Government of Montenegro.
The documentation also includes a request 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 request 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 investment is expected to pay off 11 years and 9 months after the hotel begins operating. The Government also submitted an Opinion stating that this project is important for Montenegrin tourism.