Qatari Diar Plans to Invest in Montenegro Resort Development
17. Nov, 2011
The Qatari Diar Real Estate Investment Co, which is a sovereign wealth enterprise of the Qatar Investment Authority (QIA), plans to invest €250 million (US$ 337.4) in developing an Adriatic resort in Montenegro. The Qatari sovereign wealth enterprise has been active in redeveloping hospitality properties in Europe. The project is near the city of Tivat and will redevelop the 24 hectare site. The resort project will include a luxury hotel, apartments, retail shopping, and villas. Tivat is attracting high-net worth people due to its beautiful location and development of a new port project (Porto Montenegro project). The Prime Minister of Montenegro hopes to lure travelers to the city.
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