Porto Montenegro to invest €500m on future development

Porto Montenegro, the Mediterranean’s leading luxury yacht homeport and marina village, is to invest over €500m in further development and new on-site projects over the next 10 years. The news was unveiled at a private event at the Monaco Yacht Show last month.

“We are currently only building on 30% of a vast 24 hectares that once belonged to the Arsenal, a former Yugoslav naval base,” said Danilo Kalezic, senior PR and marketing manager at Porto Montenegro. “To date we have invested €500m and I believe that in the next 10 years, we’ll invest additional €500m to develop half of the remaining land. This is difficult to predict because the site study is still being adopted but we’re on the right track.”

This year’s summer season was said to be one of the most successful ever for Porto Montenegro. The village hosted many top-level events, from the first RC44 regatta, the Gigayacht Captains Forum, the Sunreef Yachts rendezvous and Gumball3000 supercar rally, music, fashion and wine festivals and Montenegro’s inaugural polo tournament.

“All berths for yachts under 30m were fully occupied this summer and overall occupancy was 11.5% higher compared to 2018,” said Kalezic. “In the winter season, we recorded a 10.5% increase compared to last year. Over 30m berthing is expected to exceed 2018 by the end of the winter as the Bijela shipyard and new pre-Bijela offers draw positive attention from the market.”

Porto Montenegro marina currently has 450 berths for yachts from 12m-250m in length (with a capacity for expansion to 850 berths), 300 luxury apartments, as well as 60 units of ground floor retail made up of restaurants, bars, cafes, shops and amenities and a five-star Regent Hotel with over 130 luxury suites and apartments. The Regent Pool Club Residences, a duo of two wings – AQUA and BAIA – were completed earlier this year.