About EUR 4 million is invested in the first five-star hotel in Žabljak

Published on 24. December 2022., News

Close to EUR 4 million has been invested in the construction of the Durmitor Hotel in Žabljak, according to the report on the realization of this project.

Let us remind you that the construction of this hotel was included in the list of development projects in the field of tourism in November 2019, and as previously stated, the Durmitor Hotel and Villas complex will be built according to a mixed business model. The pre-account value of the investment is EUR 19.5 million.

In the fifth report on the realization of this investment made by the company Crowe MNE, which refers to the period from November 7, 2021 to May 7, 2022, it is stated that EUR 81,475 net, i.e. EUR 98,585, was invested in the project in that period. Gross. When it comes to the total investment in the project, they amounted to EUR 3.76 million until May 7 of this year.

In the document that was adopted at the last session of the Government, it is also stated that this reporting period mostly refers to the winter months, when the works cannot be carried out due to weather conditions.

Representatives of the Ministry of Economic Development and Tourism visited the construction site of the future hotel on November 18 this year and determined that no work is currently being done on the site. Also, the investor informed the representatives of the Ministry that the construction site was conserved at the end of November 2021, and that construction work was not even carried out in 2022.

– According to the representatives of the investors, the delay in the implementation of the project is partially due to the fact that approval is expected for the technical documentation of the interior of the building from the Aman group – the report states.

The construction of the complex began in October 2019. The first five-star hotel in Žabljak will have 68 accommodation units, and the investor’s intention is to create 80 to 120 jobs within the future complex.

As announced during the laying of the foundation stone, the future resort will have 55 apartments and 12 comfortable villas. It will spread over five levels supplemented by an underground garage. Typical villas have an authentic local look.
It will have a spa and wellness center, outdoor and indoor swimming pool, gym, conference room and other facilities, local media writes.