The Ministry of Finance of Montenegro has launched 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 will be required to build an exclusive five-star hotel with accompanying facilities.
All interested parties may participate in the tender, including consortia, which purchase the tender documentation and sign a 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 & 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 ownership of at least two five-star hotel complexes, at least five years of continuous experience in 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 past five years of operation.
The applicant is expected to offer a minimum price of 64,250 euros per year and submit an investment program describing the structure and dynamics of the investment. The investment program must be secured by an acceptable bank guarantee.