Russians building the tallest hotel in Budva
05.02.2008
The construction of the hotel As in Perazica dol in Montenegro should be completed soon. After seven years of reconstruction, the hotel should finally start receiving guests in the 2009 season.
Russian Njega Tours purchased As in February 2002 from hotel and tourist company Budvanska rivijera for EUR 2.2 million in cash and agreeing to invest another 11.2 million. According to the company’s manager Dejan Gardasevic, they obtained a building permit and they are currently building a new hotel.
The value of the project is estimated at EUR 50 million, but the investors expect this to be exceeded, as only the first phase of building this luxury hotel will cost approximately EUR 20 million. The new hotel will have 16 stories, which will make it the tallest building at the Budva Riviera.