Tivat Island of Sveti Marko Interesting for Investors

By , 05 Mar 2019, 21:24 PM Business
Tivat Island of Sveti Marko Interesting for Investors Sveti Marko island, Tivat, Copyright: Metropol

February 5, 2019 -  The municipality of Tivat Manager, Marko Petricevic confirmed that investors are interested in investing in the tourist complex Sveti Marko, which the company "Metropol" of the Russian oligarch Mihail Slipenčuk brought ten years ago.

"It is natural for each investor to come first with the representatives of the local self-government in which he intends to realize the investment. It is not the construction of a small house in the part of the city, but the biggest investment project in Tivat. It is logical that the investor will negotiate both with the majority owner and with the representatives of the local government. These were preliminary talks, I instructed them to write a letter of interest and address the president of the municipality," said Petricevic adding the interest comes from "a serious group," whose identity he does not want to speak.
 
He could not confirm whether those unnamed investors entered into negotiations with "Metropol" on the purchase of the largest Bokelian island, for which this company paid a debt of over EUR 1 million to the municipality of Tivat last year.
 
The Russian investment has been a decade for a "stand by" arrangement after the financial crisis and the introduction of European sanctions against the Russian Federation. In the meantime, the Metropol project for the construction of the tourist complex Sveti Marko, according to Radio Tivat, left it to its shareholders who control about 70% of shares in this company.
 
"Metropol" has invested significant funds in the past years in the purchase of a part of the land on the island from private owners. There are about 10,000 square meters left in private ownership, which makes up 2% of the total area, while the rest of the island is owned by "Metropol."
 
The master plan of the once-famous summer resort of Belgrade "Putnik" and French "Club Med" was done, and in February 2010 the Government of Montenegro approved the state study of the location for the project Sveti Marko Island, which is valid until 2020.
 
"According to the concept of construction of the island, whose total area is 349,250 square meters, the main attention will be focused on the maximum preservation of a unique nature. The construction index will amount to only 14 percent. The total area of the space intended for construction will be 79,790 square meters. The use of only environmentally safe technologies will ensure the preservation of sandy beaches, 4 km long. Electricity will be the only source of energy for all, including transportation means on the island, "reads the Metropol website.
I
n Metropol, they emphasize that the state study of the site is the primary planning document and that "the preparation of approvals for construction on the island of Sveti Marko comes to an end." However, according to Radio Tivat, Metropol is still waiting for urban technical conditions as a precondition for the necessary building permits.
 
Around the construction of a tourist complex, Tivat once boomed, because the locals raised their voice against the development of Tunja shallows, where the investor planned to build a marina for yachts. In the meantime, this plan has been dropped, and in Metropol proudly emphasizes the fact that the conceptual solution in 2009 was awarded at the world real estate fair in Cannes and that the construction will be only 14 percent. In their words, this speaks for itself about the ecological design of the project. The Russian consortium has chosen the renowned Banyan Tree for the hotel operator, which plans to raise six stars on the island, which will represent the most luxurious tourist offer in Montenegro.
 
"Poverty and isolation, the rarity of luxury, will come together on St. Mark. Luxurious villas and spectacular residences by the sea will create the perfect island resort, and Banyan Tree will bring to a small number of selected 6-star hotels and spa. The feeling of exclusivity is accentuated by beaches in a length of 4 km and a private marina. Sveti Marko will certainly connect the untouched nature with pure decadence and create a fantastic isolation world," said Metropol.
 
The hotel-tourism content on this island, according to their plan, will be built in the area of 80,000 square meters, and the project will be invested around 300 million euros.
 
"For the construction of tourist capacities on the island of Sveti Marko near Tivat, 450 to 900 workers will be hired, and after its opening, 300 to 470 will be employed," Metropol said.
 
 
Text by Zeljko Komnenovic,  Radio Tivat

Photo galleries and videos