“Hydra” Company, owned by the Royal family of Abu Dhabi, purchased documents for two tenders in Montenegro: Arabs intend to build hotels, villas, residential buildings, marinas, golf courses, race tracks, the first Eco Casino in the world, sport academy, shopping malls, entertainment facilities, educational, medical and culture-related institutions, and many other attractions which still cannot be found in this part of Europe.
Podgorica – Company “Hydra Properties”, owned by the Royal family of Abu Dhabi – Al Nahyan, is the first one to purchase the tender documentation for Velika Plaza (the Long Beach) and Ada Bojana – as Daily Press “Vijesti” catch on.

In this way, Arabs made official their interest in two probably the most attractive locations on the Montenegrin Coast.

A tender for long-term lease of Velika Plaza and Ada is open until 1st September, but all interested parties should purchase tender documentation by the end of May and submit required qualification documents in order to have the right to participate on the tender.
“Hydra Properties” is showing an interest in Montenegro for over a year which is attested by the fact that they have already prepared concept solutions and project visions for Ulcinj and submitted it to the Government, precisely to the Ministry of Economic Development which leads the project.

As sources well-versed in the matter assert, Arabs have spent almost EUR 10 million on preparing initial solutions and engaging consultants thus far.

Delegations from “Hydra Properties” visited Podgorica on several occasions and they made their hosts acquainted with investment plans for Ulcinj which, as the Government’s officials who met with them claim, are estimated at more than EUR 20 billion.
According to Arabs’ idea, the first project phase for Velika Plaza would be finished by 2014 and total worth of investments in this period would be EUR 3 billion. Construction work is supposed to begin in 2010 and by then it is anticipated that contracts are signed, projects completed, plan documentation prepared, licenses obtained, etc. Construction of the entire project along Velika Plaza would take around 20 years.
“Hydra Properties”, part of the massive “Royal Group”, is owned by the Royal family of Abu Dhabi – Al Nahyan. At the moment, the company builds several attractive business and tourist centers all around the globe named Hydra Towers, Eves Tower, Hydra Downtown Tower, Hydra Twin Towers, Hydra Village…

Apart from this, the Royal family of Abu Dhabi owns the football club “Manchester City” through the company “Hydra”.

The most powerful man of Abu Dhabi, one of seven emirates within United Arab Emirates, Sheik Mohammed paid a brief visit to Montenegro last August when he met with PM Milo Djukanovic.
Rulers of Abu Dhabi are presently considered to be among the biggest investors in the world. It is estimated that this country, being extremely rich in oil, amassed huge capital which is going to be invested worldwide primarily, while one part of the capital will be used for alleviating effects of the crisis which hasn’t missed out the Emirates as well.
Our sources state that in case everything goes by the plan, “Velika Plaza Project” will be one of the largest in the history of Montenegro and it could improve economic situation in the country to the greatest extent. This project is categorized as one of the major projects in the world.
As presented to the hosts in Podgorica, the Arabs’ plan is based on the principles of sustainable development and includes building hotels, villas, residential buildings, marinas, golf courses, race tracks, the first Eco Casino in the world, sport academy, shopping malls, entertainment facilities, educational, medical and culture-related institutions, and many other attractions which still cannot be found in this part of Europe. Projects on Velika Plaza are combination of low, medium and high-rise construction with large green areas.
The Government offered 903ha state-owned land at Velika Plaza and 316 ha of privately owned one for a lease. As far as Ada is concerned – somewhat minor works are planned and according to tender conditions the complex could have 2.500 beds at the most.
Those familiar with circumstances in tourism claim that Montenegro has to make serious preparations for this kind of investment. It couldn’t be done without support of the investor. This implies construction of roads, a new railway, expanding airport capacity and expanding the Port of Bar…All of this is needed for both the implementation of investment and attracting tourists. Arabs intend to build new airport near Ulcinj.
Since last summer there is a notion that Arabs might become a part of the ownership structure of “Prva banka”. There is also a possibility to renew negotiations since tenders for Velika plaza and Ada Bojana are officially being launched which was of primary interest to Arabs.
According to financial power, the company “Hydra Properties” has no serious rival in the competition for Velika plaza and Ada Bojana at the moment. Hungarian “TriGranit”, behind which are powerful investors whose financial power was significantly weakened due to the crisis, has shown interest earlier.

By Z.V.

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