Russians to invest 50 million BAM in the Hotel in Pale?

July 22, 2015 11:00 AM


Russian investors, who have previously bought part of the land and the former Youth Centre, were waiting for completion of the procedure between the Government of the Republic of Srpska (RS) and the municipality, in order to expand the building parcel and to build a hotel on 20,000 square meters, worth 50 million BAM.

The Mayor of the Municipality of Pale, Miodrag Kovačević, said that with the conclusion of the contract between the Government of RS and the municipality on replacement of undeveloped construction land, long-standing problems were solved with mutual benefits.

“This is the biggest investment in Pale from the end of the war until today, behind which stands consortium of Russian companies,” said Kovačević.

He said that there are multiple effects of building the hotel on Jahorina for Pale, since construction operations will be hired, and 150 people from this area will be employed after the construction.

“This is an extremely positive move in a time when many municipalities in RS are faced with crisis and even struggling for survival. The sale of land will bring more than 3.5 million BAM in the municipal budget that will be focused on the implementation of other infrastructure projects. This is an additional swing to the continuing development of the municipality and we are already making future plans since there are other investors who want to invest in Pale and Jahorina”, said Kovačević.

The Director of the Tourist Organization Istočno Sarajevo, Branka Spasojević, states that the signed contracts means a lot to Jahorina and its tourist offer, given the fact that it is opening the possibility of building new hotels, as well as additional contents that will complement winter and summer touristic offer in Jahorina.

“It would mean a lot for Jahorina to increase the number of Russian guests. It is well known what kind of tourists they are and if extra working around them has to be made, that’s what we are going to do,” said Spasojević.





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