MK Group, known for its numerous tourism projects in the Adriatic region, has officially submitted an initiative to the Government of Montenegro, presenting its vision for the development of Budva. The letter of intent was handed to Nikola Jovanović, the Mayor of Budva. This is just one of the projects that MK Group announced in its investment plan during the celebration of its anniversary, focusing on the tourism and real estate divisions.
The company is a long-standing leader in the tourism sector and has now redirected its expertise towards the strategic significance of tourism in Montenegro, recognizing the necessity for the modernization of Budva, one of the most important tourist locations in our Adriatic region. MK Group proposes further development with numerous public, ecological, recreational, hospitality, commercial, cultural, and other facilities at the site of the current tourist-hotel complex “Slovenska Plaža” and the “Aleksandar” hotel, which are owned by HG Budvanska Rivijera. It is worth noting that MK Group has been present in Montenegro for 10 years as the owner of 33.58% of the shares in HG Budvanska Rivijera.
The cornerstone of the new vision for the Budva Riviera announced by MK Group is sustainable parameters that are significantly lower than the applicable parameters defined based on existing urban plans currently in force in this municipality. MK Group recognizes that the development of high-quality tourism in Budva is an imperative that involves attracting more world-class 5-star hotels, as well as a congress center that will enable Budva to be a year-round destination, not just during the summer months.
MK Group has engaged the British architectural firm Make, which has development teams in London, Hong Kong, and Shanghai, for the purpose of developing the concept of this plan and its design solutions. In addition to Make, the team includes one of the world’s top landscape architecture and master planning firms, Aspect Studios from London, and a sustainable development team from the MSTEP studio, also based in London.
“It is rare for a potential investor to consider all existing resources, especially the existing green spaces, with such attention, taking into account all ways to preserve and integrate them into a new solution, as MK Group has done in this project. The priority was to ensure that all citizens have an unobstructed view of the sea and landscape, guiding the company in the placement of all facilities. This humane approach has enabled urban revitalization not only of Slovenska Plaža but the entire municipality. We have translated the best contemporary examples of global practices into a vision for a new Budva,” said architect Keti Garemani, Director of Make in London.
MK Group will timely inform the public about all further steps, as it has always done regarding the projects it implements in the countries where it operates.
In its portfolio, MK Group has four hotels fully owned, including the Grand Kopaonik Hotel, Petram Resort & Residences in Savudrija, two Kempinski hotels in Croatia and Slovenia, an 80-hectare golf course in Istria with 18 holes, an airport in Portorož, and three tourist real estate projects in the Adriatic region.