Montenegro bets on Quality Tourism with new Luxury Resorts – First One & Only arise in Europe at a former naval base

Podgorica, Montenegro – 22 Octobre 2013 – Beautiful beach location and amazing bath bays – these are the factors of success of tourism in Montenegro. The Balkan country builds on quality tourism and promotes the construction of new luxury resorts. By the beginning of May 2016 and thereof right before the start of the annual summer season the former military base Kumbor at the bay of Kotor will be transformed into a superlative resort. In this year’s summer the ground-breaking ceremony of so called “Boka Bay” project took place at the 24 hectare sized area. With 200 subcontractors and temporarily about 3,500 persons a five star hotel arises as well as a marina with 250 berths, several luxury villas and apartment properties, additionally a 3,000 square meter spa area or a shopping and restaurant strip with about 70 outlet stores. After its completion the resort with 110 rooms will be operated by the US American Kerzer International Holdings company with its exclusive hotel brand One & Only. This data has been revealed by TOPHOTELPROJECTS (www.tophotelprojects.com), the worldwide leading provider of global b2b hotel data.

In Montenegro arises the first One & Only resort in Europe

In Montenegro arises the first One & Only resort in Europe

The luxury project Porto Montenegro by the Adriatic Marina association takes shape. The company, which cooperates with lots of international investors for example from Canada or Russia, designed a deep water harbour for yachts on a 24 hectare sized area at the bay of Kotor, supplemented by a valuable infrastructure. According to the strong demand the number of berths was recently increased from 250 to 500. After the last expansion stage up to 650 yachts with a length of maximum 150 meter will be able anchor there at the same time.

Futhermore the construction of a five star hotel as well as the construction of an additional apartment property is currently going on. Both properties supplement the infrastructure, which is so far comprised of several shops, restaurant and approximately 130 apartments. The completion of the hotel is scheduled for summer 2014 and the completion of the new apartment property is planned for summer 2015.

The project of the association Lustica Development is by far the largest of all projects. The area of the project “Lustica Bay” has a size of 690 hectare. The main investor Orascom Development, with its Egypt multimillionaire in the background, plans to redesign the peninsula Lustica, which was also a former military prohibited zone, into one of the tourism hot spot in Montenegro. The focus is set on large parts of the Adria bay of Traste.

In the direct neighbourhood, in one small bay at the bay of Traste, the company Qatari Diar, which belongs to the Qatar Investment Authority, pursues the so called “Blue Horizon” project. The project includes the construction of a five star hotel with approximately 100 rooms and several exclusive villas. The investors from Qatar will invest about 250 million Euro.

The countries first golf courses shortly to open
After its completion the Lustica Bay project will feature two marinas, seven hotels, more than 500 town houses and villas as well as an apartment property with about 1,000 units to buy or to rent. The financial effort for the whole complex, which is scheduled to open
during 2028 amounts approximately more than 1,1 billion Euro. After the end of the development works,  the first stage of the construction started mid of August 2013. This stage includes 120 berths at the marina,300 apartments, 14 town houses, seven villa as well as two hotels and it should be done by 2015/2016. An important part of the project is also the 18 hole golf course

In the communes Budva and Bar with its beautiful beach areas the Royal Group, a mixed company from the United Arab Emirates, agrees to invest about 180 million Euro into a luxury hotel with a spa complex.

However the large project of the Montenegrin tourism industry „Velika plaza“ in the commune Ulcinj is standing still. The first try to get international investors for the 6,5 billion Euro project in 2009/10 was canceled because of lack of interest. It was the only try so far. The “Velika-plaza” project comprises an area size of 1,450 hectare in total, thereof 400 hectare just for the hotel complex with a capacity of approximately 23,600 guests. In addition different leisure and recreation facilities are planned on an area size of 120 hectare. In 2008 the Dutch Architecture and Urbanism company OeberZaaijer won the competition for the best master plan on how to develop the area.

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