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FINANCIAL NEWS
UAE’s Royal Group set to develop USD242m resort in Montenegro
14 Feb 2013
(MENAFN) Montenegro’s Privatization Council stated that UAE’s Royal Group is expected to ink an agreement for the development of a tourism resort in the Balkan country, reported Arabian Business.
According to Dragan Simovic from the Privatization Council, the USD242-million deal is forecasted to be sealed in May of the current year, whereas the project might take 8 years to be finished.
Simovic said that the Abu Dhabi firm is the only bidder for the 423,700 sqm plot located between the coastal cities of Budva and Bar.
It is worth noting that the plot is projected to be sold for USD28.44 million.
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