Photo: smokvabay.comAfter 17 years, while investors have been waiting for the adoption of planning documents, the luxury tourist complex Smokva Bay, worth 260 million euros, is starting to be built in Smokvica near Režević. The Montenegrin Ministry of Ecology, Spatial Planning and Urbanism has granted V.A.S. Invest permission to buil a five-star hotel, which will mark the start of construction one of the largest tourist resorts on the Budva Riviera.
The company, backed by Russian-Israeli capital, bought a 13-hectare land complex from the Municipality of Budva and locals 17 years ago for 25 million euros. Meanwhile, they purchased four more hectares while waiting for the construction permit, and two and a half years ago they started earthworks and construction of infrastructure, for which they spent an additional 12 million euros.
Smokva Bay will be the first private summer resort on the Montenegrin coast. It is designed as a resort with two hotels and a residential complex of villas, which will cascade down to the sea, with accompanying facilities, from recreational to catering. According to the conceptual design, the hotels will be from the global Accor hotel chain – the Raffles and Fairmont brands.
The resort is designed as an exclusive, autonomous and functionally independent complex that represents a new, modern type of tourism. The company previously concluded a contract with the public company Morsko Dobro on a 25-year lease of part of the rocky shore, which it will turn into beaches.
The construction of the future resort will take place in phases, that is, first a hotel and a part of a tourist resort with villas will be built, and a lungo mare with accompanying facilities, and then another hotel and the rest of the residential complex.
Source: bankar.me
Photos: smokvabay.com
