Porto Montenegro, a full-service marina and luxury lifestyle destination, announces its future vision to expand into five diverse and interconnected neighborhoods. Located on the UNESCO-protected Bay of Kotor, the well-established Porto Montenegro already offers world-class facilities, including a picturesque 460 berth superyacht marina, five-star Regent Porto Montenegro Hotel and premium residences and over 300 apartments, as well as international fashion boutiques and a vibrant dining scene.
With 183 miles/ 295km of beautiful coastline, 117 diverse beaches and over 280 days of sunshine per year, Montenegro is renowned for its unspoiled beauty, boasting five national parks, four World Heritage sites, including the Bay of Kotor, the largest freshwater lake in Europe and pristine mountains for skiing. Porto Montenegro has transformed the coastal area creating a hub for international yachting for entrepreneurs and for new inward and local business investment contributing to making Montenegro one of the fastest-growing economies in the Balkans and the second-fastest-growing travel and tourism economy in the world. The growth is reflective of an exponential rise in property prices, reaching 60% since 2012.
Acquired by Investment Corporation of Dubai (ICD) in 2016, the fast-growing luxury lifestyle destination is still only 40% complete with plans to expand into to five neighborhoods under its masterplan with work already underway on two of those neighborhoods under its current ten-year development program. The current neighborhood is South Village. New neighborhoods going forward include Boka Place, Synchro, North Village and Park Gardens.
The new urban village Boka Place, is already under development today and set for completion by 2024. It will introduce a five-star health and wellness lifestyle concept hotel and fitness hub, SIRO, from industry leaders Kerzner International (creator and operator of One&Only Resorts, Atlantis Resorts and Residences, Rare Finds unique hospitality and entertainment destinations including the resorts of Bab Al Shams in Dubai and now of SIRO wellness hubs).
Synchro (featuring Porto Montenegro Yacht Club), for which enabling works and final design are now underway, will deliver a luxury hotel and spa set within a beach setting plus a major events and entertainment center with a wide-ranging lifestyle and leisure program presenting a neighborhood of cultural vibrancy and creative fulfilment. It will also offer a collection of rhythmic spaces that focus on fueling self-enrichment and nourishing the soul, situated within close proximity to the existing yacht club. North Village will transform the existing sports and tennis center of the former naval dockyard and is planned as a tennis-centric village for sporting breaks, and which can host small tournaments, delivering an active but informal and laid-back lifestyle hub with residences, retail and eateries. Meanwhile, Park Gardens is planned as a resort-style oasis and a haven of tranquility with homes set amongst dense jungle landscape and a winding network of swimmable waterways.
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 neighborhoods, 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 fulfillment. Porto Montenegro is a year-round destination designed for modern lifestyles supporting a balance of live 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 neighborhoods, 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.”