Montenegro: Interest in several locations

Abu Dhabi – There is a considerable interest of investors in tourism development of Velika Plaza (Long Beach), former military barracks in Kumbor, Ostrvo Cvijeca (the Island of Flowers) and other green field projects in Montenegro – it is said in yesterday’s statement from the Ministry of Economic Development of Montenegro.

Representatives from the Ministry of Economic Development and Montenegrin Investment Promotion Agency presented investment potential of Montenegro at one of the largest International Real Estate Investment & Development Show in the world – “Cityscape” – which began this Sunday (April 19th 2009) in Abu Dhabi.

According to information confirmed in the Ministry and published by the MINA-BUSINESS agency, for the first two days of the Fair representatives from the Ministry were in meetings with officials and interested investors.

– The most of meetings were held with investors from United Arab Emirates, especially from the biggest and the wealthiest emirate Abu Dhabi, then the State of Qatar, the Kingdom of Bahrain, Egypt and from New Zealand – it is stated in the Ministry.

Representative from the Ministry of Economic Development Rade Ljumovic said that the current tenders for development of Velika Plaza & Ada Bojana and all others upcoming green field investments were presented at “Cityscape”.

– Beside ‘Velika Plaza’, investors expressed interest in the location of former military barracks in Kumbor, Ostrvo Cvijeca and forthcoming investment projects which are going to be implemented after master development for the region of Bjelasica and Komovi plan is finished – Ljumovic said.

Executive Manager of the Monte Mena Company, Yusuf Al- Sarai, noted that his company together with the Government and other exhibitors make strenuous efforts to promote Montenegro.

– I am pleased to see that the front of friends of Montenegro is getting stronger and it makes me proud if my company contributes to this –Al-Sarai added.

Montenegro is presented at “Cityscape” Real Estate Investment & Development Show by the Ministry of Economic Development and Tourism Department, Montenegrin Investment Promotion Agency, and National Tourism Organization. The show finishes on this Friday.

Montenegrin companies & organizations which present their offer at the show are following: Monte Mena, Colliers, International Montenegro, UEP Montenegro, Black Mountain Resort, Green Hospitality Montenegro, Metropol Group, Montenegro Stars Hotel Group, Maestraltours, HIT Montenegro and local Tourism Organization of Budva.

Managing Director of National Tourism Organization, Sasa Radovic, said that this is the first important promotion of Montenegro at a non-European market since the presentation held in China during the Olympic Games.

“Having in mind unfavorable economic situation in the world we have to diversify our market additionally and turn to those who will find the way out easier and faster. These are certainly United Arab Emirates and the countries in the Middle East – crude oil producers.” –Radovic clarified.

By M.M.