According to Porto Montenegro, preparatory works have recently been completed on the project for a new multifunctional complex in Porto Montenegro called Boka Place.
"The construction company Bemax Montenegro, with which the initial construction contract was signed, plans to complete these works within the first quarter in order to build an underground garage for retail facilities, hotels and residential buildings by the end of this year," the company said.
Construction of the new multifunctional complex in Porto Montenegro, which will be located along the Adriatic Highway in Tivat, began on November 15 last year.
The new complex will include 240 hotel units and around 60 residential units, with numerous retail facilities and common areas.
"According to the existing plan, construction of the first phase of the Boka Place complex should be completed in the second quarter of 2023. Completion of the second, final phase of construction is scheduled for the end of 2023," the statement said.
The Boka Place project covers an area of around 75,000 square meters, and the estimated investment cost exceeds 100 million euros.
"Designed as a residential area that operates year-round, Boka Place will also have a supermarket of more than one thousand square meters, a cinema with three halls, as well as numerous food and beverage venues," representatives of Porto Montenegro said.
The retail facilities will have more than 40 tenants representing various fashion brands and home goods.
Boka Place will also include a mixed-use business hotel, managed by Kerzner International, with a state-of-the-art fitness center and wellness center, as well as a 20-meter outdoor pool that can be used both in winter and summer.
The current plan provides that the number of employees in retail, restaurants, supermarkets and cinemas, as well as those managing facilities in the Boka Place area, will exceed 220 full-time employees and more than 40 seasonal workers.
It is expected that up to 100 jobs will be created in the new hotel. On the basis of the necessary approvals, the government agreed to include Boka Place in Tivat