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[BUSINESS] · Serbia, Montenegro · 2 sources

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Construction developments reported in Užice and Podgorica

Construction is progressing on a replica of the Milovanović villa in Užice, Serbia. The project, which has seen approximately 35 million dinars invested so far, aims to recreate the original 1930 structure built by painter Mihail Milovanović. The Ministry of Culture of the Republic of Serbia provided 60 percent of the funding, with the City of Užice contributing the remainder. The building, covering roughly 300 square meters, is expected to be ready for its intended use by early next year once electrical connections and final finishing works are completed.

In Podgorica, Montenegro, the company Sigillum & IB has announced plans to reconstruct an existing business building on Marka Miljanova Street into a four-star Hyatt Centric hotel. The project includes the construction of an additional annex on an adjacent plot. The development will feature 108 accommodation units, a lobby, a bar, a restaurant, and a congress hall. The hotel is scheduled to open in 2028.

Entities

Hyatt Centric · Mihail Milovanović · Podgorica · Sigillum & IB · Užice