Qatari Diar to build 250 million euro luxury resort in Montenegro

Following the takeover of an existing hotel in a bay near the city of Tivat, the company owned by the Qatar Investment Authority will redevelop the 24-hectare (60-acre) site over the next two to two-and-a-half years to include a luxury hotel, villas and apartments, sports facilities and shopping malls, Qatari Diar’s locally registered unit said in an e-mailed statement.

Egypt’s Orascom Holding also announced a major mixed luxury hotel and residential investment in Montenegro two years ago , however, following the Arab Spring turmoil, the project has been put on hold. The only international luxury chain to operate a hotel in Montenegro is Aman Resorts, which opened last year an ultra luxxury boutique resort in Sveti Stefan.