Councilors in Bar have adopted the agreement on mutual rights and obligations of the municipality and Sonuba Montenegro company regarding the Maljevik project.
By means of this agreement, Sonuba Montenegro obliges to invest from €30 million to €60 million since the commencement of works.
Dušan Railević, president of the municipality, has reminded of the tumultuous history of this project.
“Unfortunately, in the last eight months, local administration has been dealing with the issue older than 10 years. Maljevik has had tumultuous history and changed the owner three times. In each case, planning documentation has envisaged the construction of hotel structures with the area of 249.000 square meters. We missed very good opportunity in 2011 and 2012. Degree of construction could have been reduced following the principle of exclusivity. I have said this was the project of the century. And it really is”, said Mr Raičević.
The project itself is the proof of the investors’ huge interest.
“To pay €11,5 million for a project that is about to start – it’s a big deal”, said the head of the municipality of Bar.
According to him, Maljevik was the best project that the municipality has concluded in the last 50-60 years.
“If we managed to sell the land for €32 million, it’s because we weren’t aware of the problem that it might arise. Investors even less so”, said Mr Raičević.
How did residents of Sutomore benefit from the sale of Maljevik? Raičević said that 24 residents had a profit of €6,4 million on the basis of restitution.
Asked if there are any guarantees for the work, Mr Raičević said that enforceable and final judgment was the best guarantee.
“Was it necessary to request bank guarantee on the occasion of the conclusion of the agreement? Probably. But if you had an investor that paid €32 million immediately, what guarantee did we need? What other guarantee? The investor has been settling liabilities on a regular basis, and between 2010 and 2018, the investor paid €550.000 on the basis of real estate tax”, said Mr Raičević.
