Qatari Investors Take Over ‘Blue Horizons’

A hotel complex called “Blue Horizons” (“Plavi horizonti”) has formally been taken over by Qatari Diar, an investment group from Qatar, on October 1. The hotel complex itself is over 40 years old and people who’ve been working there for a long time will be moving out. That is because the Qatari businessmen didn’t really buy the hotel — they bought the land. The hotel will be demolished and then they will build something new and much more modern and up to today’s standards on that land. They actually planned to start all that right after the take over, but they postponed it until October 15 because the season isn’t over yet.

“The season was amazing. There were over 67,000 overnight stays. The hotel is located in the beautiful Pržna valley with a 300m long beach and people really love it. It is very sad that we have to give the keys to someone else, after we put our lives in it,” said Dragan Bućin, an executive at the hotel. “We will now pack up our old gear and hand the keys of the object to the new owners on October 15.”

The hotel complex “Blue Horizons” was founded four decades ago. The Qatari gave 24 million euros for the complex which spans on an area of 250,000 square meters. The new owners plan to demolish the old hotel and build a new 5* hotel. The total investment is worth 200 million euros. The new complex is supposed to have 170 apartments within many villas, with many facilities for sports and fun.

“One of their obligations is to leave 30% of the beach open for the public, and we’ve put that in the contract. The new hotel should be built and ready to start working in 2014,” concluded Bućin.

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