The loan amounts to 25 million euros, with a repayment period of 12 years, and the loan makes up 17% of the total investment value of the Boka Place project, while all other funds used in financing were provided by investors and the sale of apartments.
"We are happy to cooperate with our strategic financial partner, CKB, when it comes to this long-term partnership. We will invest these funds in the completion of the Boka Place settlement, which will have a new hotel with 96 rooms, 213 apartments, both private and those managed by the hotel, 40 tenants, a cinema, a playroom for children, excellent sports facilities that include about 2.000 square meters "wellbeing" club with a 25m pool that can be used both in summer and winter because it will have a roof that opens and closes. The five-star Hotel SIRO, which will be managed by Kerzner International, will be a significant addition to the project and will expand the accommodation options for guests who are on vacation or visiting Tivat for business. The project, when completed and fully operational, will provide around 425 direct and up to 475 indirect permanent jobs," said David Margason, CEO of Adriatic Marinas - Porto Montenegro.
"The signing of the loan agreement for the completion of works on the Boka Place project represents the continuation of many years of high-quality cooperation and trust that exists between our bank and the company Adriatic Marinas - Porto Montenegro. We are proud of the fact that we are supporting another project that will enrich the Montenegrin tourist offer, but also encourage further economic development of this region. We will continue to be strategic partners in initiatives that make Porto Montenegro, Tivat, and our entire country, a destination that attracts guests from all over the world," said Nikola Perišić, member of the Board of Directors responsible for the Sector of Business with Legal Entities.
