Arabs takes over Montenegrin Blue Horizon

Montenegrin “Blue Horizon” Hotel complex, which was until recently owned by state company  HTP Primorje, he transferred to the ownership of the Arab investment group Qatari Diar, Montenegrin media reports. It was announced that the new owner plans to demolish the existing hotel and to build on that site five-star hotel within the hotel chain Hilton. Arabs are planning to be a high class resort. Complete investment will cost 200 million euros, a new complex should have about 170 apartments and villas, with supporting sport and recreation and entertainment. The hotel complex Blue Horizon was founded four decades ago, a group of Arab Qatari Diar has given 24 million for a complex of 250,000 square meters in the Montenegrin bay Przno, with a beach several hundred meters long and pine forests and olive groves in the background. The new owners are currently not want to reveal plans that will address the public when it is completed procedures for spatial planning documents. As the mayor of Tivat Miodrag Kankaras told, in the local parliament in early October will be adopted spatial planning documentation. New hotel should be finished by the end of the 2014th. "The public will remain available for 30 percent of the beach, while the following sports and recreational and entertainment facilities contribute to the improvement of tourist offer of Tivat and positioning as a distinctive tourist destination", Kankaras told to the Montenegrin media.Source: CDM