Porto Montenegro: Montenegrin Marvel
Designed for living a life less ordinary, Porto Montenegro is one of Europe’s best-kept secrets. Set in the spectacular Bay of Kotor, with its own deep-water superyacht marina and an international airport nearby, this beautiful waterfront village continues to set new standards of living in the Adriatic.
Long celebrated for its magnificent landscape and UNESCO-protected towns, the Bay of Kotor is now increasingly recognised as a luxury destination, thanks to the marina of Porto Montenegro and its surrounding village. With world-class facilities, including the five-star Regent hotel and premium residences, as well as an international fashion and dining scene – not to mention 280 days of sunshine a year – Porto Montenegro is an outstanding Mediterranean destination. And it’s less than six hours’ flight from the UAE.
While attracting significant pent-up demand after 18 months of limited travel – with close to 70 percent of the number of visitors in the same period of 2019 – this Adriatic beauty spot remains peaceful and uncrowded, a best-kept secret for those in the know.
Exuding a sophisticated yet relaxed style, Porto Montenegro’s residential village currently comprises some 350 luxurious apartments – with a limited number still available to buy – a dynamic and varied mix of boutiques, cafes and restaurants; a state-of-the-art marina with 450 berths catering to yachts from 12m to 250m; and a yacht club with one of the most glamorous pools in Europe.
A wholly owned subsidiary of the Investment Corporation of Dubai (ICD), Porto Montenegro is steadily expanding, according to a well-considered master plan. Currently under construction, the new urban-style neighbourhood of Boka Place will introduce 213 managed and private residences alongside SIRO, an immersive hospitality and lifestyle experience from Kerzner International (Atlantis and One&Only Resorts).
Moving to Montenegro for a life less ordinary
Designed for year-round living, Porto Montenegro is an ideal base for business people and digital nomads who want to work remotely in Europe, as well as entrepreneurs wishing to establish new ventures.
Portonians, as the village’s inhabitants are known, can start their working day on the marina waterfront with their computers on their laps, can host a board meeting on a jetty or a team day on a yacht, and swap their rush-hour commute with a stroll through the marina or a buggy ride to their desk.
Porto Montenegro offers excellent connectivity and a range of purpose-built business amenities each with its own distinct style. Aimed at those seeking a premium office experience, Ozana Business Club overlooks Superyacht Jetty 1 in the heart of the village. In a quiet location set back from the water, Arsenal Business Club offers white-box offices that tenants can furnish as they wish, while the nearby Innovation Centre Co-working Office is an open-plan space ideal for start-ups and freelancers.
Against a backdrop of azure seas and spectacular mountains, with fresh air, sunshine and a high level of security, living and working in Porto Montenegro offers unparalleled lifestyle and financial opportunities.
During their time off work, residents can make the most of Boka Bay’s calm and clear waters, hike in the wooded mountains that are right on the doorstep or travel a little further afield and explore Montenegro’s 295km of coastline and magnificent inland wilderness areas.
Among the fiscal benefits of living and working in Montenegro are the lowest personal, corporate and capital gains tax rates in Europe, Euro-based currency, free trade zones where firms are exempt from paying VAT and customs duties, and avoidance of double taxation due to treaties with over 40 countries.
There are no restrictions on foreign currency exchange or transfer of profits abroad. It is a solid base for both large and small businesses, as well as a trending destination for entrepreneurs, with simple company registration requiring just 1 Euro founding capital and minimal paperwork. Most significantly, it is only two or three hours’ flight from most European capitals.
Exceptional Investment Opportunities
According to the latest figures, property prices in coastal areas of Montenegro increased by 21 per cent per square metre between 2017 and 2019, while Porto Montenegro enjoyed a 62 per cent increase in price per square metre between 2009 and 2019 and is proud to have sold more than 350 apartments. With such a successful track record, the development has become an investment destination in its own right.
The first neighbourhood within the development to celebrate completion was South Village, followed by the Regent Pool Club Residences’ two luxurious wings, Aqua and Baia, which offer all the benefits of the five-star hotel’s services, and then the contemporary-style Elena Residences. Construction of its latest project, Boka Place, began in September 2020 and, despite the challenges brought by the global pandemic, remains on track for completion in 2023.
Owned by the Investment Corporation of Dubai (ICD), whose portfolio includes Emirates airline, One & Only Resorts and Emaar Properties, Porto Montenegro has established itself as the premier real estate investment opportunity in the region, with a track record of delivering strong returns to investors.
LUXURIOUS WATERFRONT RESIDENCES
Intimate in scale, with great charm and character, the South Village replicates a traditional Montenegrin town, with pedestrian-only streets woven between the individually-designed buildings – none of which is greater than five storeys high. The design combines elements of the Montenegrin vernacular with contemporary Mediterranean features – colourful facades complemented by richly planted ‘hanging gardens’ and shaded terraces. The result is an innovative, low-rise development that remains sympathetic to the Venetian and Ottoman heritage of the local architecture while offering all of the comfort and convenience of modern living.
Aqua, Baia and Elena
Directly overlooking the marina and comprising two buildings, Aqua and Baia, the Regent Pool Club Residences are located alongside the 5-star Regent Porto Montenegro Hotel in the centre of the development. With units of one to three-bedrooms, the sleek, contemporary style of the architecture is complemented by interior design inspired by the Italian Riviera. As well as benefiting from the full five-star services of the hotel, residents also enjoy complementary membership of Porto Montenegro Yacht Club. Owners also benefit from the access to The Regent’s rental pool programme – providing an ideal platform for investment.
Positioned on the village’s central boulevard, with attractive on-site retail and dining amenities, Elena Residences is an elegant new addition to the Porto Montenegro collection. Named in honour of Elena di Savoia, a Montenegrin princess born in the royal capital of Cetinje in 1871, the 50 ready-to-move-in residences offer contemporary design and relaxed waterfront living. Featuring studio, one-, two- and three-bedroom configurations, with sea and mountain views, Elena Residences offers myriad community amenities, such as 24hr concierge, residents-only pool and gym, an exclusive owners’ club and access to the M Residences Bespoke Rental & Servicing Solution.
With just a limited number of units still available for purchase, this diversified offering of waterfront homes is designed to appeal to a wide range of clients, from boat owners to local and foreign buyers – whether they envisage taking up year-round residence, or simply seek a solid investment.
Boka Place is a gateway to Porto Montenegro’s laid-back elegance and is positioned to become one of the most sought-after locations in the Bay of Kotor, offering relaxed urban-style living and a sense of privacy within robust infrastructure. Due to be completed in 2023, this lively, top-of-the-line neighbourhood has been designed for year-round living, with a focus on wellbeing and fitness. Residents will benefit from invitation-only events and exciting summer clubs for children, among other privileges.
With high-quality retail outlets, extravagant eateries and a new flagship SIRO hotel, Boka Place will feature a total of 213 residences, including studios, one-, two-, and three-bedroom apartments and penthouses, and two- and three-bedroom duplexes. Buyers may choose from a range of SIRO-managed residences or purchase their own private units, with property prices starting from €190,000.
As a valuable added dimension to investment in one of the 144 SIRO-managed residences, homeowners are eligible for lifetime citizenship under Montenegro’s Citizenship by Investment Program (CBIP) – a government policy that will come to an end on the final day of 2021. As well as their new Montenegrin passport, offering visa-free access to 124 countries, owners of SIRO-managed residences will benefit from 5-star hotel services and the hotel’s world-class fitness facilities and wellness centre, In the past 12 months, more than 60 per cent of the SIRO-managed residences have already been purchased or reserved.
The 69 private residences in Boka Place offer exclusive access to their own pool, as well as privileged access to SIRO wellness programmes. Porto Montenegro offers management of these units as part of its bespoke M-Residences rental management scheme, a well-established programme with a proven track record of return on investment. As an added attraction for buyers, Boka Place offers a staged payment plan for its private residences, aligning with construction milestones until completion.
With its distinctive style and privileged position, Boka Place offers exceptional lifestyle benefits, as well as presenting an excellent investment opportunity in terms of both capital appreciation and the option of a well-established and proven rental management programme.
The World’s First Platinum Marina
Porto Montenegro first gained global recognition thanks to its world-class superyacht marina, which has been designed to cater to the advanced needs of all yachts, their owners, guests and crew – with specific infrastructure for the largest yachts afloat. A leading homeport in the Mediterranean, a TYHA Platinum Marina Award winner, Porto Montenegro is the first marina ever to hold the 5 Gold Anchor Platinum accreditation, and the vibrant marina community is an important foundation-stone of the residential village and its continuing development. With the latest accolade ACREW World’s Best Superyacht Marina as voted by captains and crew worldwide marina keeps its premium position in the superyacht industry. The core focus since day one – an impeccable customer service remains crucial in the ongoing marina development and is widely recognised and acknowledged by clients.
Perfectly situated for access to the exciting cruising grounds of the Adriatic and Eastern Mediterranean, Porto Montenegro’s setting in the Bay of Kotor makes it an ideal base to set sail on varied itineraries, or just to sit back and enjoy the wild beauty of the scenery.
With flexible berthing packages and tax-free fuel among its many benefits, the marina offers state-of-the-art facilities and infrastructure, coupled with excellent service. A new shipyard will open soon, offering superyacht repairing and refitting facilities, adding to the marina’s appeal as a great winter berthing location.
A Life Extraordinary
Life in Porto Montenegro is not just about superyachts and exciting new developments; it’s about character and essence – both of which come in abundance in this exceptional waterside community and the surrounding area of Kotor Bay. As Montenegro welcomes more and more international travellers, Porto Montenegro stands out as the most attractive and dynamic destination in the region – a place where visitors encounter new experiences, discover wondrous sights, and fall in love with everything but an ordinary way of living.