Qatari Diar Donates Funds to Tivat Municipality Development

By , 08 Feb 2019, 00:34 AM Business
Qatari Diar Donates Funds to Tivat Municipality Development Copyrights: Apartmani Janović

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08 February 2019 - The Municipality of Tivat received a donation worth 30.000,00 EUR from the company Qatari Diar Real Estate.

The Qatari Diar Real Estate Company was established in 2005 by the Qatar Investment Authority, the sovereign wealth fund of the State of Qatar. The company is headquartered northeast of capital Doha on the coast of the Arabian Gulf. Qatari Diar has established itself as one of the world’s most trusted and respected real estate companies because of its commitment to quality, local community, partnership and sustainability. As of January 2018, Qatari Diar has a shared capital of US $8 billion, with 60 investment projects under development or held in 24 countries around the world, combining a value of over US$35 billion.

Qatari Diar has also launched a construction project in Montenegro - the company acquired the rights to the Blue Horizon hotel complex for €24 million, and it is in their plan to develop a five-star luxury hotel that will include sports resorts and villas. As stated by the representatives of the company, “the Plavi Horizonti Project, based upon the principles of an exclusive resort atmosphere, with reference to the natural setting of the Montenegrin landscape character, historic heritage and elements of an authentic Montenegrin village, is located ideally on the Luštica Peninsula, facing towards the magnificent Adriatic Sea. The mixed-use resort will include a 200-room world-class luxury resort hotel, a spa, a beach club, more than 140 residential villas, apartments and townhouses, and traditional village-style retail and recreation areas.”

This respected real estate company has decided to donate funds to support the development of Tivat Municipality. The donation will be directed towards the realisation of the second phase of asphalting the local road to Radovići Village on the peninsula Luštica. The segment of the road to Radovići that will be constructed is the road section Rogač-Radovići.

The Municipality of Tivat previously financed the reconstruction and asphalting of the section from the Đuraševići coast to the end of the Radovići Village, worth around 94.000,00 EUR.

On the Luštica peninsula, the construction of the second phase of the MR1 is underway, which will connect the local road to Radovići (from the natural reserve Tivatska solila) and the second phase of MR1. This road represents a direct traffic link to the development of tourism projects which are being built on the Luštica peninsula. The MR1 road will also greatly facilitate traffic in this part of the peninsula, which is of particular importance for the locals of the surrounding local communities.

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