Business & Money | Sunday 18 December, 2016 12:51 pm |

The Montenegro Ambassador to the UAE, H.E. Darko Uskokovic unveiled the Portonovi Project of Montenegro at St. Regis Hotel, Nation Towers, Abu Dhabi Corniche yesterday. The launch event of the project was executed by property consultants Henry Wiltshire International, in conjunction with developers Azmont Investments. The project is a 26-hectare ultra-premium residential community that is ideally located between the mountains and sea with marvellous views of the pristine Adriatic coastline in Montenegro.

The project has a total investment of $3 billion in construction with many hospitality branches such as Aman, Regent, Iberostar, Best Western, Ramada, Hilton and One & Only. “These are just some of the brands whose presence is an indication that we are a serious player in the tourism market. Today, in Montenegro we have investors from 107 countries around the world, special values of those results are given by the fact that they have been achieved in years of devastating economic and financial crisis in the world, which logically limited the Montenegrin economy as well,” said H. E. Darko Uskokovic

The project is expected to flourish as Montenegro is one of the fastest growing travel and tourism economy in the world according to the World Travel & Tourism Council. Since independence, all economic indicators of Montenegro are positive with an average growth of 3.2 percent GDP, as well as salaries doubling. The expected growth of investments in tourism in Montenegro is over 7 percent annually over the next 10 year.

“When we are speaking about Portonovi, I have to say that we, from the government side are extremely happy and satisfied about how the project is developing. Portonovi is recognised as a socially responsible company, a company that brought Montenegro the highest standard in business. We are partners, together trying to remove any obstacle, as success of Portonovi is success of the Government of Montenegro. As we say we are not selling property in Montenegro, but we are buying strategic partners with Socar Investments and One & Only are definitely the desirable ones,” said Darko Uskokovic.

In tourism and real estate, UAE has a presence in Montenegro with investments in the Capital Plaza in Podgorica which has become a landmark of the city with the new Belleville hotel and Hark Rock Café. A new hotel resort is coming up on the coast by ADFG in Montenegro. In addition, earlier in May, ICD from Dubai acquired Porto Montenegro with hotel Regent and biggest marina for mega yachts in Adriatic.

Montenegro is located south of Croatia and has a mild Mediterranean climate. The country is a land of the wild and precious beauty, characterized by an immense natural diversity and historic grandeur. It boasts two UNESCO World Heritage Sites, including the walled town of Kotor. Other locations include the magnificent palaces of Perast and the old town of Budva. Montenegro is dubbed as the future Switzerland of the Mediterranean, separated from Italy by the Adriatic Sea, Montenegro is full of strong contrasts. Its breath-taking scenery inspired artists, royal and celebrities for over many centuries.