October 1, 2001 the Directorate for Public Works announced the call for open public procurement procedure on the University Complex of the Faculty of Arts First Phase construction works. The works on the Phase I have been valued to €3.5 million. It has been planned to build facilities for the Faculty of Fine Arts, Academy of Music and the Faculty of Dramatic Arts within this University complex, as well as the buildings for joint cultural events and facilities for visiting professors and students’ private accommodation. Estimated value of these facilities construction work is €19 million. The construction of new students’ dormitories has been planned as the last phase of this complex project which completes the works on the new, modern university campus. This project is of crucial significance for the University of Montenegro, as its implementation provides high quality work possibilities as well as the development of the Art faculties in Cetinje and opening of the new study programs. Furthermore, it will provide live international artistic activity and students’ mobility as the key priority of the Bologna education system. Throughout this project the capital city of Cetinje will be recognized not only as the national, but as the international university, cultural and artistic center what will provide impetus for the accelerated city development. Therefore, the campus has been listed as the high priority project of the national importance.