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ADMC To Build Business Hotel in Europe

ADMC To Build Business Hotel in Europe

The six storey property is set for a 2015 completion.

Alternative investment firm Abu Dhabi Capital Management (ADCM) has signed an agreement to build a business hotel in Montenegro.

The six storey property is set for a 2015 completion and will be located in the Atlas Capital Center in the central business district of Podgorica in Montenegro. The center also houses offices, retail, embassies and luxury apartments.

“Abu Dhabi Capital Management has an exceptional track record of sourcing specialist investment opportunities that deliver high quality returns, and this opportunity continues this momentum. Once completed in 2015, the hotel in Atlas Capital Center will be the largest in Podgorica and will be operated by an international operator,” said Jassim Alseddiqi, chief executive officer of ADCM.

The company in 2013 acquired luxury residential London developer Northacre, the development manager of No. 1 Palace Street, currently one of the largest development projects in Prime Central London.

Atlas Capital Center is a joint venture between Capital Investment and Atlas Group. Atlas Capital Center is the largest mixed-use development in the Balkans, boasting a mix of high-end luxurious apartments, office space, hotel, retail, and underground parking.

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