In 2016, Montenegro to get Portonovi - Azmont Investments to pour EUR 500 mil in luxurious summer resort near Herceg Novi, chance for regional companies

(One&Only complex in Dubai)

For the first time for the Serbian public, Azmont Investments presented a luxurious construction project in Montenegro worth EUR 500 in Montenegro. The complex will be called Portonovi.

As announced by the General Manager of the Portonovi development project, James Wilson at the working breakfast with journalists, this is at the moment the biggest tourist project in Europe and it was planned to open for visitors in mid 2016.

For eKapija Wilson said that preparation works on site have started August 20 and that these days the first layers of concrete are expected.

The thing that might be the most important here is the fact that the construction of the project will hire up to 6,000 people from Montenegro, Serbia and the region. Later, during three years, the complex should have 1.500

(Master Plan for the Portonovi project)

- It is estimated that every bed which comes with a five-star service opens a possibility for 7 to 8 new vacancies – Wilson said.

Portonovi will be the first One&Only summer resort in Europe (brand the investor is known for). It will occupy 24 hectares with some 550 luxurious rooms, suites and villas, The average room area will be some 60 m2 which is almost double than the hotel rooms in Belgrade and the region, Wilson added.

Luxury in the old Mediterranean way

Within the luxurious resort, a health and wellness center is planned occupying 5.000 m2, two marines for big yachts over the whole year, the biggest sandy beach in the region with 900 bathing chairs and luxurious club at the beach, international tennis academy and a congress center for 1.000 participants.

Shops, cafes, restaurants along the sea coast, botanical gardens and eco-park, fish market as well as organic food market are built in Portonovi. The objective is to host both local and leading world brands in shops and catering facilities.

- The region attracts the attention of the international public. One of our objectives is to keep the look and develop surrounding zones and offer luxurious summer resort with a number of purposes. We think Portonovi as a location maintains the balance of luxury and a local community Azmont Investments wants to achieve – the General Manager of the Portonovi development project says.

He added that Portonovi is bigger than the Old Town in Dubronik. It also will not differ from the rest f the Montenegrin seaside architecture so the current trend of modern, glass buildings will be challenged by traditional red roofs and white stone.

Thus, he neglected sayings that the Kerzner International company, which is an investor and a founder of Azmont Investments, is trying to build new Dubai in Montenegro.

Wilson said that so far thet have invested EUR 35 mil and that investments on monthly basis in the next three years will be EUR 15 mil.

(James Wilson)

Azmont demolished a military complex which is located at the construction on site in Kumbor and it recycled a large part of brick and concrete and is planning to use it upon construction of Portonovi.

- When the summer resort starts working, we expect to have some 25.000 visitors during weekends – James Wilson says.

- All companies which want to cooperate with us can call us. All application terms when it comes to work are available on our site. Our objective is to complete a large part of the job in the region and we expect 80% of investments to stay within the ex Yu countries. The most important criteria for selection of associates are efficiency in delivering goods and services. For example, we will need some 5000 doors, some 100.000 chairs, pieces of furniture… If we could get all that from local producers, it would be the most efficient – Wilson explains.

Montenegro the most efficient

When asked whether they are planning a similar investment in Serbia, Wilson says our country had already been observed before the projects at our neighbors’ started.

- The Government of Montenegro has very convenient business climate and the same principle for investors such as, for instance, Dubai. Investors are not faced with extensive paperwork and complicated procedures which are why, out of the whole region, we opted for Montenegro – Wilson said and added:

- When nine months ago we came to Montenegro, we had only land in Kumbor, without construction permit. Today we have everything.

The One & Only summer resorts have been built so far in the Maldives, Dubai, Mauritius, Bahamas and Mexico. According to management, it is one of the most luxurious hotel chains which can compete with Four Seasons and Ritz Carlton’s hotels.

J.DJ.