The small European nation of Montenegro has only been independent since 2006, but in seven short years it has earned a reputation as a hot destination for tourists and investors alike. The country is host to stunning natural beauty, including the deepwater bay at the Boka Kotorska, beautiful mountains and canyons, wonderful beaches and historic cities such as Kotor, one of the largest walled cities in Europe and a UNESCO World Heritage Site.
Porto Montenegro occupies one of Montenegro’s most enviable locations. Backed by an investor group that includes Lord Jacob and Nathaniel Rothschild of the UK, Bernard Arnault, founder of luxury conglomerate Louis Vuitton-Moet Hennessey (LVMH) and Oleg Deripaska of Russia, the concept of Porto Montenegro was driven by the strong demand for suitable yachting berths on the Mediterranean. Indeed, Porto Montenegro was designed “by yachtsmen for yachtsmen” and features 250 secure berths ranging from 12 to 150 meters, with a further 185 in planning.
The phased development currently includes 35 shops, 8 restaurants, a sports club, international school and a collection of high-quality apartments for sale in six different residential buildings. The newest addition to the residential portfolio is the Regent Hotel & Residences Porto Montenegro. Scheduled for completion in Summer 2014, the new structure is designed by ReardonSmith Architects in the Venetian style of the area, which was ruled by Venice for around 400 years.
The new building will include 49 residences and 34 hotel rooms, delivered fully furnished in the “nautical chic” style by Tino Zervudachi from MHZ of Paris. The freehold residences are available for use at the discretion of the owner, and can be placed in the hotel’s rental pool to generate revenue when not in residence. Owners will have access to top-notch services and amenities, including an on-premises bakery-café, fine dining restaurant, library bar, cigar lounge, a Regent Spa, and an indoor-outdoor infinity pool overlooking the marina. The hotel also features a water garden with “submergible stone catwalk” leading to a private island setting for private events and dramatic outdoor dining.
Introductory pricing is reportedly in the €7500 per sq. m. range. Based on the limited number of residences available and their attractiveness to the super-yacht set, we don’t expect they will last long on the market!