An investor from Turkey intends to implement a large-scale project, Swissotel Residences, in Kotor — a city in Montenegro, a historic part of which is under the protection of UNESCO.
The project is estimated at 120 million euros, Interfax news agency reports citing a source in the company. The construction site will be located on the last undeveloped area of the city.
The hotel complex will be built three kilometers from the central part of the old town of Kotor and nine kilometers from Tivat airport. According to the project, a land plot of more than four hectares will house a 5-star hotel for 137 rooms, as well as a complex of 175 residences, which are planned to be put up for sale.
Construction activities on the site are expected to begin in July 2018. The facility is planned to be commissioned in 2020.