The license is being issued for construction of the resort in three phases, in accordance with the decision on the urban-architecture project for the Lazaret hotel resort and the spatial plan of the Municipality of Herceg Novi, reported Mina business.
The first phase includes construction of a yacht club, while the second envisages reconstruction of Lazaret. This means the central building will be turned into a five-star hotel. The complex consists of seven buildings connected by internal courtyards, on the gross area of 5.8 thousand square meters.
Reconstruction of existing buildings in the zone of nautical tourism will be done in the third phase to transform it into the servicing facility.
Imperio Holdings Limited is owned by Russian investor Gennady Borisov. The company filed for a building permit on December 18th 2015, explaining that the project is of state and general interest, which is why the investor is being exempt from paying fees for urban preparation of construction land for building.
Reconstruction of the complex is underway, and project worth 70 million euros should be completed by the summer of next year. The first phase of the large complex has been completed, and together with the aquatorium, it will occupy 70 thousand square meters.
Borisov said earlier that the quay wall and promenade connecting Meljine and Herceg Novi has already been built and that his company has so far invested 16 million euros in Lazaret, including purchase of the complex for 12 million euros, from the Carine company.
