President Đukanović at Portonovi: Opportunity for Development of Montenegro

By , 14 Jul 2019, 21:06 PM Business
President Đukanović at Portonovi: Opportunity for Development of Montenegro Copyrights: President of Montenegro Media

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13 July 2019 - President of Montenegro Milo Đukanović, at the invitation of Ahmet Erentok, President of the Board of Directors of Azmont Investments, visited the works at the Portonovi resort in Herceg Novi.

On this occasion, the preliminary works of the first phase of the construction, contents and activities, which will be available to the local and international public from 1st of August this year, were shown for the first time.

When Azmont Investments entered the Montenegrin market in 2012, its contractual obligation was to invest 52 million EUR in the first four years, or 258 million EUR in eight years. By the end of June this year, Portonovi’s investor invested 469 million EUR, while the total investment after all works would be close to 1 billion EUR, the company stated. In all segments of the project, an average of 1,560 workers are now engaged.

Đukanović said that he is impressed with what he saw in Portonovi, adding that the implementation of the project from the first day to the present seemed almost unbelievable. A lot of works have been completed already and everything was done according to what were the most optimistic expectations.

"This is a serious chance to solve key economic and social problems in the country and a key opportunity for Montenegro's development, primarily in these activities that really represent the best development opportunity for our country," noted Đukanović according to the report of the Cabinet of the President of Montenegro.

The Resort spans over 26 acres and consists of 1.8 kilometers of an exclusive coastal area with 214 residences. World brands, such as the first One & Only hotel in Europe with the Espace Chenot Health Wellness Spa Center, and D-Marine with 238 berths and the ability to receive boats up to 120 meters long, are part of the Portonovi’s resort offer. Within the marina, a border crossing is also envisaged.

Portonovi settlement is designed in a traditional Mediterranean style with a combination of bohemian and Venetian architecture, concerning Montenegrin history, tradition and culture of life and construction. With its completion, the quality and standards of Montenegro's tourist offer will significantly increase.

"I am pleased to note that in the final I can see that through the realization of the resort such as Portonovi, Porto Montenegro, Lustica and many other venues that are in preparation, we realize the vision of Montenegro as a European prestigious tourist destination where many people from Europe and beyond Europe recognize something that is truly the most valuable quality of our space and our people," concluded Đukanović.

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