Arza Fortress at the Entrance of Boka Bay to be Resold

By , 29 Jan 2019, 14:10 PM Business
Arza Fortress at the Entrance of Boka Bay to be Resold Fort Arza at the entrance to Boka Bay. Photo: Antonela Stjepcevic

January 29, 2019 - The Real Estate Agency Fresh has announced an advert on the sale of the Austro-Hungarian fort Arza with the surrounding area on the Luštica peninsula. 

In the ad, withdrawn in the meantime, the agency promotes the sale of construction land, on an area of 107,858m2, including its beach of 5,690 m2, and Austro-Hungarian fortress Arza of 1,455 m2. 
 
"The plot is located at the entrance to the Boka Bay on the Luštica peninsula and has direct access to the Adriatic Sea and its beach. Total construction area of 10 078 m2. Price by agreement," quotes the Fresh Real Estate advertiser. 
 
The advertisement about selling Arza has caused considerable interest in social networks, and the worried citizens have often asked how it is possible for someone to sell Arza, which should be a cultural monument.
 
In 2005, the Military Fund in Belgrade sold the Donja Arza area for the price of 4.5 million to Russian-Montenegrin-Serbian consortium, made up of the Serbian Akcionarska Komercijalna Banka, Trade Unique from Budva and RCG Invest, registered in Herceg Novi. The consortium then formed the Arza Property Corp, whose director is Vadim Ogorodov, and the founders are Olgica, Maja and Mirko Latinović, the owner of Trade Unique. 
 
Immediately after the purchase, the consortium announced that would build a tourist complex and invest 100 million Euros. New owners banned the public passage owned by the Municipality of Herceg Novi and the entrance to the beaches, coves, seas, and the Austro-Hungarian port, where the "Private Property" was displayed. For years, a security service prevented entry into this estate fenced with wire. After 14 years, the complex is to be resold. 
 
It is interesting that for this private property, the Montenegrin Privatization and Capital Projects Council for 2014-2017 extended the deadline ten times for submitting bids to an international tender for a long-term rent of land and aquarium at the Donja Arza location. The lease referred to a period of 31 to 90 years. 
 
Even more interesting is that the cultural monument, which defines the entrance to Boka with the fortresses on Ponta Oštro and Mamula, the current owner flocked to the iron fence at all openings, without causing the interest of the Montenegrin Department for the Protection of Cultural Property.
 

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