The government remembered to threaten strategic partners

Judging by the information that the Government adopted last week, Prime Minister Milo Đukanović's cabinet has a plan to put an end to dead investment projects in tourism. The government has set deadlines by which investors must complete the projects, or the contracts will be terminated. The government is speaking with a new tone to the companies it once loudly announced as partners and harbingers of luxury in dilapidated hotels on the coast and in the mountains.

On Thursday, the Information prepared by the Secretariat for Development Projects, which "Vijesti" had access to, was adopted. "Targeted" were hotels in Žabljak, Budva, Ulcinj, Herceg Novi, Perast...

Jezera and Planinka under scrutiny

The government will demand termination of the contract and compensation for the sale of the hotel, if the investor of the Hotel Planinka and Jezera in Žabljak does not take action as soon as possible. An annex to the contract will be signed with the HTP primorje consortium and the HLT fund, which bought the Planinka hotel in 2005. An amendment to the contract is also being prepared for HM Durmitor, the owner of the Jezera Hotel.

According to the annex, investors will have until March 31 to apply to the ministry for the issuance of a building permit. It was specified that the investors should start the main construction works by April 30. According to the plan insisted on by Đukanović's cabinet, the hotels should receive guests by the end of November 2015. If the agreed dynamics are not respected, the contract will be terminated.

Government strategists in Information expect the Žabljak hotel, which is also owned by HM Durmitor, to be operational by May 31.

Ace, or Skadar na Bojana

When it comes to the As hotel in Perazića Dol, the Government refers to a "reasonable deadline". If the reconstruction is not completed "within a reasonable period of time", one of the planned solutions is the termination of the contract with the company Njega tours.

The Government's working team will talk with the representatives of the Russian company by the end of February, and then submit a model for further cooperation. The Moscow company committed to invest 2002 million German marks in the renovation of the hotel in a contract from 22.

The construction permit was issued in 2006, and as the government points out, the investor has allegedly invested an incredible 50 million euros in the hotel, which has not been renovated. According to the dynamics of the investors, as they point out in the Government, the completion of all works is planned for May 2015. The Government is understanding, so they state that "a detailed analysis of all possible models and mechanisms that can lead to overcoming the current situation should be done".

Ulcinj without plans

The government blames the Ulcinj local government for being late with urban plans and thus hindering investors from fulfilling their obligations to rebuild and build hotels.

The company Rokšped, which bought the Galeb hotel from HTP Ulcinjska Riviera back in 2006, had no mistakes, according to the government, and they set a deadline for the hotel to be opened by April 2016. At the end of last year, the local DUP was adopted, so the government will ask Rokšped in an annex to the contract to apply for a building permit by September 15. Construction work in that hotel must begin by October 1 at the latest, the government says.

The case of the Lido hotel and the Vladi bungalow is disputed because there is no urban documentation and it is impossible to register the owner, the Capital Estate company, which committed to invest 35 million. In the middle of last year, the investor concluded an annex to the contract, the implementation of which, according to the Government, is in progress.

For the Hotel Mediteran, which was bought eight years ago by the company Bećović Management, the Government does not expect there to be any delays, once the planning documentation is adopted.

Property Controller

The government will also put an annex to the contract before HTP primorje and HLT fund, which in 2006 bought a majority package of shares in the Igalo vacation, recreation and rehabilitation center, with clear deadlines.

Although the works have not started all these years, as stated by the Government, this is due to long-term court processes regarding management rights in the company. In the Government Information it is written that "the internal disputes of the members of the consortium cannot be the reason for prolonging the deadlines for the realization of investment obligations".

The government's deadline for the investor to request a building permit will be September 1, construction work should begin by October, and the hotel should be operational by April 30, 2016.

The annex provides for the mechanism of automatic termination of the contract in case of non-compliance, and a bank guarantee of the investment program will be required.

The Government has given a deadline to the Budva company Imobilija, the owner of Jadran AD Perast, to implement the investment plan that has been pending since 2007 within the next three years, and the Government will appoint a controller to monitor this project.

Termination of contract for Rose

The government will begin to terminate the land lease agreement at the Rose location, if the consortium Equest capital Limited Jersey and Northstar DOO Podgorica do not provide guarantees and a contract with the operator who will manage the future hotel and villa by May 31.

With the long-term lease agreement of 522.581 square meters for a period of 90 years, the consortium undertook the construction of a hotel and villas with accompanying facilities. With the adoption of the State study of the Dobreč Rose locality, all the conditions for the implementation of the project have been met. The investor also undertook to ensure the payment of the advance amount of rent for a period of 8 and a half years. Morsko dobo undertook to conclude a pre-contract with the consortium as soon as possible and thus allow it to use the water area.

The government is also categorical when it comes to the lease of 25 square meters on the Rastislav Peninsula. The investor, the company Star of Montenegro, which was founded by JP Morsko dobro with five percent capital and the company Montenegro 2000 Consulting and Development, must apply for a building permit for the construction of a luxury hotel complex by March 31 of this year at the latest. The executive authority requests that construction begin by October 1 at the latest. The full opening of the hotel must be no later than April 30, 2016, and any breach of contractual obligations will mean automatic termination of the contract.

Sold by MOC and Horizon to build hotels in Novi

The government does not believe that the company Vektra Montenegro will fulfill its obligations in Herceg Novi, i.e. build the Tamaris and Igalo hotels, and rebuild the Plaža hotel.

Bearing in mind that, except for the demolition of Tamaris, no significant works have been carried out, and that it is not realistic for Vektra Montenegro to fulfill its investment obligations, the government sees the sale of their MOC complex in Bečići and the property of Horizon Logistic as one of the solutions to the problem.

The government is ready to start communication with NLB Montenegro bank, as the largest creditor of Vektra Montenegro, which mortgaged the property of the businessman Dragan Brković's company in the name of the loan. "NLB Bank, due to the decline in the value of real estate that was recorded as security for approved credit arrangements, is evidently unable to collect its total claims against Vektra Montenegro at the moment.

It is realistic to look at the possibility of implementing a model, with the prior consent of the Government, based on which the bank would release the mortgages ... the MOC hotel in Bečići and the property of Horizon Logistic, and redirect its pledge to the facilities of the company Vektra Montenegro", according to information from the departmental Government Secretariat. After the release of the mortgage, the sale of MOC and the property of Horizon logistics would proceed.

The money that would have been paid into a separate account was used to build a hotel in Herceg Novi. According to the Government's estimate, between 26 and 30 million euros could be collected from the sale of MOC and Horizon.

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