Military Facility in Kumbor Offered for Long-Term Lease

The Montenegrin Ministry for privatization and capital projects has announced that they are open to offers for a military facility called “Orjentski bataljon” in Kumbor. The facility is specific, because it covers a lot of land, and the land is in an amazing location (on the shore). Any interested parties can submit their offers until December 14. The offers will be opened the day after at the Ministry of defense.

The Montenegrin government has invited high-profile investors from all over the world to bid. Of course, the invited investors have a proven record of investing, building and maintaining large tourist complexes. The lease period is 90 years. All interested investors, which includes consortiums, can buy the project documentation at any time by submitting their application and signing a confidentiality agreement.

The interested companies must be famous hotel brands which have a proven record of maintaining 4* and 5* hotels. The company also has to have at least 5 years experience running an international hotel chain. Of course, they also have to prove that they are financially capable of completing such a large project — they have to show that they had an annual turnover of over 50 million euros in each of the past 3 years. They also have to own properties valued over 300 million euros.

Kumbor is a small town in Montenegro. According to the 2003 census, it has a population of 1067.

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