The LSG company, the investor behind the Liko Soho hotel project in Bar, has announced plans to reactivate the construction site within the next two months after resolving financial issues earlier this year.
The Ministry of Economic Development’s inspection in April 2023 confirmed that work on the tourist complex had stopped. The hotel, listed in October 2021 as part of Montenegro’s economic citizenship projects, is scheduled for completion in the second half of 2026. The bank guarantee provided by the investor is valid until December 2026.
The LSG company acknowledged bureaucratic and administrative challenges that caused delays and financial losses. Despite these issues, the company secured a partnership with the global hotel operator Accor Group, choosing their Pullman luxury brand for the project.
The construction work was paused in April 2024 due to financing issues and the impact of the war in Ukraine. However, by early 2025, the company secured the necessary funds to resume construction. They anticipate the construction site will reopen in the next two months and are committed to meeting deadlines set with both the government and the Pullman brand.
The company plans to shift the business model from a condominium to a mixed-use model, which is more favorable for the state. This change will reduce the number of apartments for sale and increase the number of hotel rooms, making it a year-round operation under the ownership of the LSG company.
The Ministry of Regional Development and the local government in Bar have expressed concern over the delays but remain supportive of the project’s potential to strengthen the region’s tourism infrastructure. They hope the project will proceed without further setbacks and become an important addition to Bar’s tourism offerings.
