77 million euro complex is being built in Canj
The Government of Montenegro has announced the details of the project for the construction of an exclusive complex in Čanj, according to which the value of the facility is 77 million euros, and the investor will create as many as 241 jobs within the complex.
The investor of the project is the company ‘Amma Resort’ with its headquarters in Podgorica, and the ultimate owner of that company is the Čelebić, group of businessmen Tomislav Čelebić.
According to the Government document, Amma Resort based in Podgorica submitted to the Ministry of Sustainable Development and Tourism an application for the Public Invitation in October, with accompanying documentation: Business Plan, Revised Main Project, Founding Acts and other documentation relevant to the project, no. 16-89 / 130 of 2.11.2020.
The hotel complex has a total capacity of 483 accommodation units, of which 241 accommodation units in the hotel itself, and another 242 accommodation units in eight luxury villas.
The estimated value of the complete investment is 77.01 million euros including VAT, of which the investment in the hotel itself amounts to 41.22 million, and the investor intends to create 241 jobs within the complex.
In order to confirm the availability of funds for the implementation of the project, the applicant submitted a corporate guarantee issued by the company Čelebić llc, as the founder of llc Amma Resort, in the amount of 15 million euros in favour of the Government of Montenegro. The Business Plan states that the return on investment is expected within 11 years and nine months from the start of operation of the hotel, and the investor has submitted a detailed dynamic plan for the implementation of the investment. Along with this project, the Government also published an opinion according to which this project is important for the tourism of Montenegro.