Tivat gets "old town" - Boka Group builds complex of specific concept, project valued at EUR 450 million

After Kotor, Budva, Herceg-Novi, Perast, Bar and Ulcinj, there is another place left at the Montenegrin coast which will get “old town". Although a few years later, Tivat, the investors believe, will become a unique attraction and an example of classical architectural style which has featured this coastal area for centuries.

Namely, London-based company operating in Montenegro, Boka Group, will soon start the construction of the “Old town” , the first one at the Adriatic during the previous couple of sentences, at the locality of former agricultural land.

"New old town" after half a millennium

Apart from the construction of the first champion golf court with 18 holes in Montenegro , master plan implies construction zones within which "Tivat Old town" which has a specific design concept will be built.

- This way, "Tivat Old town” will attract the interest of the entire coastal community and will become not only a settlement but the right destination – an investor says.

A founder and the Executive Manager of Boka Group, John Kennedy, announced that after Budva and Kotor, Tivat will also become famous for its old town and it is very interesting this will be the first “new old town” in this part of Europe in the last half a millennium.

Spirit of medieval times with all the perks of the modern age

Boka Group conducted extensive studies of the coastal regional local architecture. The researches with respect to the reconstruction of the cities of Budva and Kotor after the earthquake in 1979 showed that it is feasible to merge authenticity and the most modern expert practice.

When it come to construction materials, the plan is use stone and the construction of the clock-tower as well as the hotel exterior will be done in line with the middle age facades principle which will, at the same time, be the main facility feature.

- The first old town in a last couple of decades will merge tradition and needs of owners of modern residential units. We will build on a green field which enables implementation of new technologies which will be out of visual reach. In the first line, cable TV and telephony, electricity and air conditioning system. Environmental system and electricity production from natural sources, also, can be implemented in the way which was unthinkable in cities built a few centuries ago and whose look was damaged during adaptation to the modern age needs – John Kennedy thinks, a founder and an Executive Manager of Boka Group.

- This is an extraordinary opportunity which you get once in your life, to build a city which will be at the international focus of interest and which will direct the attention to Tivat and Montenegro have to offer. Apart from that, the city will be the first impression of all international visitors during their arrival at the international airport in Tivat – Kennedy adds.

"Tivat Old town" will offer flats at lower prices, for domestic Montenegrin market in order to create balance between those whom this will be a primary residence and those who see it as a secondary residence.

Some media report that suite and flat prices in the “old town” will be some EUR 3500 per square meter.

Fall 2014 to see the first works

Boka Group says that so far they have been very satisfied with the project dynamics because in a year time, a detailed urban plan of Tivat was adopted and master plan completed. The main design is nearing an end and it should be revised during the summer so they soon expect to start cleaning of the location and initial works within the first stage.

In the first stage, preliminary works for the construction of the golf court with 18 holes of the champion standard will be carried out. In the fall, soil cleaning and excavation of new irrigation lake of 100.000 m3 will start.

The total project value is some EUR 450 mil.

Boka Group says that thanks to this project, 1000 people will be hired and that the state will generate EUR 80 mil only from VAT and the Tivat economy some EUR 10 mil per year.

You can read about the plans of Boka Group in Kolasin HERE.

I.M.