Porto Montenegro Sets Sail Towards a Vision as the Premier Yachting Hub and Waterfront Community in the Mediterranean

Montenegro, February 2024: Located on the UNESCO-protected Bay of Kotor, Porto Montenegro already offers world-class facilities, including a 460-berth superyacht marina, the five-star Regent Porto Montenegro Hotel and premium residences, international fashion boutiques and a vibrant dining scene. 

In 2016, the Investment Corporation of Dubai (ICD) acquired this rapidly flourishing luxury lifestyle destination. Despite being only 40% complete, the project is ambitiously set to expand into five neighbourhoods as outlined in its impressive masterplan. Currently, active development is underway in two of these neighbourhoods.

With 280 days of sunshine per year, 295km of beautiful coastline, a flat and competitive tax system with only 15% tax levied on personal and corporate income as well as no wealth or property tax, Euro currency safety and EU integration planned, there are many reasons to relocate to the Balkan nation. 

Montenegro‘s natural beauty is showcased by its 117 beaches, five national parks, four World Heritage sites, the largest freshwater lake in Europe and pristine mountains for skiing. The Porto Montenegro project has transformed the coastal area into a thriving community, creating a hub for yachting enthusiasts, international entrepreneurs and investment contributing to making Montenegro one of the fastest-growing economies in the Balkans and the second-fastest-growing travel and tourism economy in the world. 

Upon completion, Porto Montenegro will feature five dynamic and distinctive neighbourhoods, which will broaden the destination’s offering. One highlight is South Village, which provides classic and elegant waterfront living, dining and shopping, over 50 boutique stores, three business clubs with office facilities and more than 400 private apartments. The Regent Hotel & Venezia Residences offer 129 managed Regent Pool Club Residences across its Aqua and Baia buildings, as well as 50 apartments in the Elena Residences building, all overlooking Porto Montenegro’s unrivalled 460 berth superyacht marina. 

A new urban village Boka Place, which is under development today and set for completion by summer 2024, will introduce a five-star health and wellness lifestyle concept hotel and fitness hub, SIRO, from industry leaders Kerzner International (creator and operator of One&Only Resorts, Atlantis Resorts and Residences, Rare Finds unique hospitality and entertainment destinations including the resorts of Bab Al Shams in Dubai). 

Synchro Yards is the newest most avant-garde neighbourhood slated for completion in 2026. The latest phase of the real estate development encompasses two residences, situated ideally, offering stunning vistas overlooking the acclaimed marina. Synchro Yards will boast a beach club complete with a swimming pool and lagoons, upscale dining venues, and exclusive retail outlets. Additionally, the renovated shipyard building within Synchro Yards will serve as a versatile event space, hosting a range of activities from arts workshops to musical events, paying homage to its industrial heritage.  

North Village will transform the existing sports and tennis centre of the former naval dockyard and is planned as a tennis-centric village for sporting breaks, and which can host small tournaments, delivering an active but informal and laid-back lifestyle hub with residences, retail and eateries. Meanwhile, Park Gardens is planned as a resortstyle oasis and a haven of tranquillity with homes set amongst dense jungle landscape and a winding network of swimmable waterways. 

David Margason, Managing Director at Porto Montenegro, said: “Our vision is to ensure Porto Montenegro is the premier boating and super yachting hub in the Mediterranean and to reinvent waterfront living with a diverse collection of eclectic but integrated neighbourhoods. Porto Montenegro is a year-round destination designed for modern lifestyles supporting a balance of live work and play, with more than 40 nationalities being represented. Building on the success of the destination, through our new neighbourhoods, we will look to offer our residents, tourists and locals new experiences and unexpected adventures that help feed their imagination and enrich their mind, body and soul.”

Porto Montenegro is at the forefront of pioneering innovative solutions to preserve its natural environment. Named Marina of Distinction from 2015-2017, Porto Montenegro achieved a historic milestone in 2017 by becoming the first marina worldwide to receive the Platinum accolade from TYHA (The Yacht Harbor Association).

Teaming up with Drydocks World Dubai to transform a former shipyard into a world-class superyacht refit and maintenance facility, Adriatic 42 will include a new infrastructure and the upgrading of existing facilities. Its location is in one of the most sought-after seas in the world, makes it a haven for the global luxury yachting community.

While also announcing a strategic partnership with world- leading master developer, Nakheel, Adriatic Marinas will leverage its M-Marinas by Porto Montenegro Marina Management Platform to elevate Nakheel’s waterfront communities, offering unrivalled standards of marina management and peerless superyacht community expertise. 

In 2024, Porto Montenegro will present a canvas of extraordinary experiences with a vibrant series of events, concerts and festivals planned for locals, crew club, residents and international tourists. The summer social calendar has something for all the family, from concerts, wine tastings and foodie weekends, to a fashion show, sporting competitions and outdoor challenges – making it the most vibrant hotspot in the Mediterranean region.  Upcoming events include the following, but are not limited to: 

• ESG Summit 2024 – 24-26 April: The Summit has become the flagship annual sustainability event for the region. 
• Mediterranean Cricket League – 28-31 May: World-renowned international cricket stars like Brad Hogg and Darren Maddy and many more will gather at the Arena for a weekend.
• Made in New York Jazz Festival – 14 June: Montenegro’s international community comes to Porto Montenegro, for the Made in Newan York Jazz Festival. 
• Superwine – 29 June: The superwine festival is the most anticipated wine tasting event in Southeast Europe. 
• International Fashion Festival – 19-20 July: The stylish annual gathering on the Synchro Stage brings together some of the world’s most prestigious designers in a magnificent waterfront setting.
• Rubix – 8-10 August: Experience the ultimate fusion of entertainment at Rubix Festival, taking place in the stunning waterfront community of Porto Montenegro, 

Porto Montenegro remains an attractive opportunity for investors for its stable political and economic climate and ease of reach as it’s only three hours from main European cities. The three international airports, Tivat, Podgorica and Dubrovnik provide regular flights globally.

For press enquiries, please contact Anita Gryson at Relevance International anita@relevanceinternational.com 

About Adriatic Marinas and Porto Montenegro  

Adriatic Marinas is a wholly owned subsidiary of the Investment Corporation of Dubai and is a specialist developer and operator of waterfront and specialist yachting destinations. Porto Montenegro is the Mediterranean’s leading luxury yacht homeport and marina village. The state-of-the-art facility has been designed to cater to the advanced needs of all yachts, their owners, guests, and crew with specific infrastructure for the largest yachts afloat. The marina currently has 450 berths, more than 440 delivered and sold-out luxury apartments, as well as 80 units of ground floor retail made up of restaurants, bars, cafes, shops, and amenities and a five-star Regent Hotel with over 120 luxury suites and apartments. Constantly expanding, Porto Montenegro’s newest neighbourhood, Boka Place introduces 213 managed and private residencies alongside the first SIRO, a new fitness-infused hotel concept with Kerzner International.