Hotel „As“, situated in a cove called Perazica Do, near Budva, once one of the most luxurious tourist facilities on Montenegrin coast, has been an unfinished investment. Despite the fact that the reconstruction of the hotel was announced as a grandiose project, after being sold to a foreign investor, the investment program never got carried out.
In January 2016, the Government of Montenegro finally terminated the sales and purchase agreement, but it was discovered that the €3 million guarantee the investor had submitted with the 2014 agreement annex was not valid. This means that Montenegro cannot collect the contractual penalty of €1 million.
This study will indicate the extent of the damage caused by the agreement that the government concluded with the investor, which turned out not to be a foreign partner, as local people were behind the curtain of the company that officially bought „As“.
Complete study download HERE (PDF)
