Abazović: Settlement for Sveti Stefan started immediately before the court decision, the state capitulated

The leader of the Civic Movement URA, Dritan Abazović, announced that the Government had entered into a settlement with the company "Adriatic Properties" immediately before the decision of the Arbitration Court, thus capitulating the state in the Sveti Stefan case.

He said this at a press conference in the Parliament, where he announced that the parliamentary group would submit an initiative for the formation of a Committee of Inquiry and a parliamentary investigation into the lease of Sveti Stefan. He emphasized that the initiative was requested by the Sveti Stefan Local Community, and called on MPs to support it.

"This Inquiry Committee has the ambition to do what the governments failed to do, to lead the process in a transparent manner and shed light on every detail. We learned that agreements are being secretly signed behind the backs of citizens, I spoke about it in December 2025. And then it spoiled the mini celebration of people who had bad intentions towards Sveti Stefan. A few weeks before this press conference, we received information that the Government would enter into a settlement immediately before the arbitration decision - in a way that the state capitulated," he emphasized and added that the fight for Sveti Stefan had lasted since 2015, that the site was protected by Budva, but that everything was neglected.

The government and the company "Adriatic Properties", which is the lessee of the "Sveti Stefan" hotel and "Vila Miločer", signed a settlement agreement in early April, which stipulated that they would notify the Court of Arbitration in London through a joint submission that they were withdrawing from the arbitration proceedings, which would allow "Sveti Stefan" and "Vila Miločer" to reopen in June after four years.

"Adriatic Properties", owned by Greek businessman Petros Stathis, is also building the "Janu Kraljičina plaza" hotel on this site, while these works were suspended at the beginning of the arbitration in 2021, after the escalation of the conflict with local authorities and locals.

Asked about the future of the "Janu Kraljičina plaza" hotel, which is already half-built, Abazović said that it was manipulation - because there is constant information that there will be no further construction. He claims that "Adria Properties" does not want new construction, but only to finish the hotel that has been started, and that until recently, apartments in that building were offered on their website at prices in the millions.

"The government decided to sign the settlement and no one has seen the original version of the contract. The essence is a parliamentary investigation that would verify the violation of contractual obligations since 2007 and the relationship between the competent institutions, the impact of the lease on the state and citizens, whether everything was done according to the law, which institutions did not react, whether Miločerski Park will remain protected or apartments will be built for sale...", he stated.

He stressed that there was speculation that the arbitration could cost Montenegro 100 million, while according to his information, 63 suites in that hotel cost 240 million euros.

Abazović said that he tried to open Sveti Stefan during the government in which he was prime minister, but that he was not in favor of building apartments and that the existing building had no place in that zone. He also announced that an inquiry committee would reveal that the building was built outside the plan.

"Someone thinks that what was done before 2020 can be done illegally... We had an arbitration against Oleg Deripaska and the state won, I think it's clear for Sveti Stefan that they would win, because they haven't paid rent for years. Since we can't get a contract in a decent way, we will form a survey committee and invite all parliamentary groups to support the initiative," he pointed out.

Mitar Miković from the Sveti Stefan Local Community said that the locals are not in favor of construction in that zone, but that they are not against the hotel - but that there should be no sales.