May it be prosperous and let us be proud on the facilities which will be built in Maljevik – those are the words of the president of the Municipality of Bar Zarko Pavicevic after the yesterdays signing of the contract with the company Sonuba Montenegro. The contract is about the construction of an exclusive hotel-tourist complex in the cove Maljevik not far from Sutomore.

Pavicevic and Anatolij Vasiljevic Gorjanin, the executive director of Sonuba Montenegro from Podgorica, behind which are Russian funds, have signed a contract about the transmission of property rights on construction land in Maljevik of the surface of 203.541 square meters, and a contract about the mutual rights and commitments based on the compensation for the arrangement of the construction land according to DUP Maljevik.

Total value of both contracts is 53, 7 millions of euros which will go directly to Bar cash register. Compensation for the land is 160 euro per square meter which is totally 32, 5 millions of euros which the investor has to pay in to Municipality until October 11th this year, or otherwise the municipality has the right to break the contract. On the account of communal taxes for the construction of the hotel-tourist complex of total surface 249.800 square meters which will be occupied by hotels, suites, villas with pools, restaurants with open terraces, small marina, facilities for joint and general needs, and other accompanying contents. Sonuba should pay in to the municipality 86.84 euros per square meter, which is totally 21, 1 million of euros.

According to the contracts the investor is obliged to pay in a share of the compensation for communal taxes of 6,6 millions euros until October 10th, and the remaining amount of 14, 5 millions to pay in in 36 monthly installments, 405.000 euros each starting from December 10th.

Sonuba has to built the facilities which have been predicted in DUP in the period of 4 years from the day when the contract was concluded, and the planned investments together with the purchase of the land and payment of communal taxes surpass 450 millions of euros – said mayor Pavicevic.

We are happy for this contract. That is the biggest investment of this kind not just in Bar but also in Montenegro. For the land and for the communal taxes Municipality will get over 53 millions of euros, and with the construction of this complex Bar is becoming a recognizable tourist destination which will attract significant investors to other locations which we have – that was the note of evidently satisfied Pavicevic.

We have made the first step in a very serious job. Time from the auction (February 19th) we have used to prepare all our forces, so in fact today starts a huge project. We have good cooperation with the Municipality which has full understanding, and I think that we’ll get the job done in time. The construction will begin as soon as we get the construction permit. We are now working on projects and we do not want that to last too long, we are interested in starting the construction as soon as possible – said Gorjanin.

Bar mayor added that the Ministry of economic development issues the construction permit and that that company will become the owner of the property on October 11th when they should settle all their payments for the land.

Beside the current benefit for Bar budget which will get 53 millions of euros Pavicevic listed in long-term effects incomes based on the tax on property, on municipal fees, and the tax, residential tax, and as the most important thing he pointed out employment of between 800 and 1.000 people from Bar in the new complex.

President of the municipality of Bar explained that DUP obliges the investor to build an exclusive complex with 4 or 5 starts which will have 80.000 square meters of hotel space. 130.000 square meters of tourist suites, 35.000 – 40.000 square meters of rent-a-villas, and a small marina. The project is in accordance with the plans and programs of PE Morsko doro because one its part is located in the land, which is owned by Morsko dobro.

Mayor Pavicevic said that they would invest the money from Maljevik in capital infrastructural facilities.

- Our priorities are the round about in Bar, and solving of the problem of the hard waste material and waste waters. Budget is being realized in quality manner, and all that we have planned we have managed to achieve without this, and this by all means is a contribution for solving some capital investments – said Pavicevic.

The delay in the signing of the contract, because of which he personally had been pointed finger at by Bar opposition Pavicevic explained with arrangement of all property legal relations on the field.

That is the only reason. We have estimated that we have a really serious investor and therefore we have approached this work very seriously in order to sign the contract without any additional blockage – said Pavicevic.