Porto Montenegro: A Picturesque, Unspoilt Destination

Porto Montenegro, situated on the Bay of Kotor, a World Heritage Site, features a 460-berth superyacht marina, the five-star Regent Porto Montenegro Hotel, premium condominiums, and more than 300 apartments, in addition to a thriving eating and retail scene featuring international designers. Investment Corporation of Dubai (ICD) purchased the rapidly expanding luxury lifestyle destination in 2016, but it is still only 40% complete with plans to expand into five neighbourhoods under its masterplan, with work already underway on two of those neighbourhoods under its current ten-year development programme.

Five national parks, four World Heritage Sites, including the Bay of Kotor, Europe’s biggest freshwater lake, and virgin mountains for skiing contribute to Montenegro’s reputation as a picturesque, unspoilt destination. Porto Montenegro has revitalised the coastal area, becoming a centre for international yachting for entrepreneurs and attracting new inward and local business investment, which has helped Montenegro become the Balkans’ fastest-growing economy and the world’s second-fastest-growing travel and tourism economy. The expansion mirrors the exponential increase in property values that has occurred since 2012, when it was 60%.

South Village, the currently operating neighbourhood of Porto Montenegro, offers classic and elegant waterfront living, dining, and shopping, with over 50 boutique stores, three boutique business club office facilities, over 400 private apartments, and the Regent Hotel & Venezia Residences Porto Montenegro with its neoclassical-style architecture.

Kerzner International, leaders in the field of hospitality, will debut a five-star health and wellness lifestyle concept hotel and fitness hub, SIRO, in the new urban village Boka Place, which is currently under construction and expected to be finished by 2024. (creator and operator of One&Only Resorts, Atlantis Resorts and Residences, and Rare Finds, unique hospitality and entertainment destinations, including the resorts of Bab Al Shams in Dubai and now of SIRO wellness hubs).

David Margason, Managing Director at Porto Montenegro, said: “Our vision is to complete Porto Montenegro as the premier boating and superyachting hub in the Mediterranean and to reinvent waterfront living with a diverse collection of eclectic but integrated neighbourhoods, which will be introduced over the lifetime of the masterplan according to the prevailing markets, and which harmoniously fuse together to create a place of discovery, and creative and adventurous fulfilment. Porto Montenegro is a year-round destination designed for modern lifestyles that support a balance of work and play. With more than 40 nationalities, Porto Montenegro is a global community, where people are united in their curiosity for the unexpected and their insatiable desire for the extraordinary. Building on the success of the destination, through our new neighbourhoods, we will look to offer our residents, tourists and locals new experiences and unexpected adventures that help feed their imagination and enrich their mind, body and soul.”

Boka Place – Completing at the end of 2023 

Boka Place will have 96 hotel rooms, 144 privately managed residences (studios to three-bedroom duplexes and penthouses) with the benefits of 5-star hotel concierge services, and 69 privately managed residences (studios, one- and two-bedroom apartments, and penthouses) that can be managed by M Residences Rental Management Service.

As the wellness company’s flagship project and flagship location, SIRO Boka Place will have a rooftop bar and pool, a high-performance training studio, and a Recovery Lab featuring a variety of health spa services like infrared saunas and cryotherapy. In addition to housing and retail space, the new mixed-use development will have a number of restaurants, bars, high-end clothing stores, and theatres. Studio apartments start at €250,000, one-bedroom apartments at €381,000, two-bedroom luxury apartments at €594,000, and three-bedroom luxury apartments at €725,000. Penthouses are available for POA.

Buyers are keen to take advantage of the Citizenship by Investment Programme (CBI), which has been extended until the end of 2022, and the SIRO rental pool programme, which has resulted in over 80% of SIRO-managed residences being sold and reserved since the launch of off-plan sales in summer 2020.

The number of unit sales in Porto Montenegro has been three times* higher than in the traditional investment spots of Spain and Portugal in recent years, and this is only expected to grow as new high-end developments are launched and major infrastructure projects, such as a new highway connecting the coast and Podgorica to towns on the north like Kolasin, and the expansion of ski facilities, get underway.

Porto Montenegro continues to entice investors thanks to its secure political and economic climate and convenient location, just three hours from the continent’s major hubs. Tivat, Podgorica, and Dubrovnik all have international airports that offer frequent flights to destinations all over the world.

Porto Montenegro’s World First Platinum-Rated Marina Expansion Plans 

Porto Montenegro, in the protected Bay of Kotor, is home to the world’s first platinum-rated marina, which has cutting-edge amenities such as flexible berthing packages, a world-class yacht club, year-round crew club events, and tax-free fuel. The marina currently has a capacity of 460 berths and can accommodate yachts up to 250 meters; however, plans are in the works to expand its offering to up to 850 berths, of which 315 will be dedicated to superyachts. This, combined with the new, adjacent Adriatic 42 superyacht repair facility, will establish Porto Montenegro as the largest full-service marina in the Mediterranean.

Located only a mile and a half from the marina village, Porto Montenegro and its Joint Venture partner Dry Docks World will introduce a world-leading shipyard, Adriatic 42, as the old Bijela site is transformed to offer superyacht refit, repair, overhaul, and maintenance needs, with exceptional quality and service, by the end of 2022. Porto Montenegro’s status as one of the very best marinas in the world is further cemented by the addition of Adriatic 42, which was built in response to an increase in traffic and demand for service and homeport facilities in the Adriatic.

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