Company "Izbor" to sell Cetinje-based hotel "Grand"

Company "Izbor" from Bar has announced the open competition for sale of Cetinje-based hotel "Grand", several office spaces and building lots in municipalities of Bar and Kotor.

The bids can be submitted within next eight days and they must contain the price, the terms and the method of payment.

Hotel "Grand", the property of company “Cetinjeturist”, is situated at 22,680 square meters in the center of Cetinje.

"Cetinjeturist" became an integral part of Bar-based company “Izbor” in 2007, along with Podgorica-based company "Servis-import" and Kotor’s printing firm "Andrija Paltašić".

The majority owner of "Izbor" is "Eurofond", which is controlled by Veselin Barović, a businessman from Podgorica.

"Izbor" has announced the tender for sale of land and office space in municipalities of Cetinje, Bar and Kotor because the company is in a financial crisis.

Stores and restaurant in Bar’s settlement of Čanj, a market, business buildings and office space in Bar and Kotor are offered for sale as well.

The submitted bids will be opened three days after the deadline expires. Special commission for ranking of the bids has already been formed. The priority will be given to current tenants.

In case one of the offered properties is under mortgage, company "Izbor" is obliged to remove the mortgage once the full price for that property is paid.