IYKYK: The Connecticut-sized Balkan nation of Montenegro offers 300 km of Mediterranean coastline and 300 days of sunshine each year.

Set in the UNESCO-protected Bay of Kotor on the Adriatic Sea, Porto Montenegro is located in the place the English poet Lord Byron called "the most beautiful encounter between the land and the sea".

Boka, as the bay is colloquially known, is Europe’s southernmost fjord and the only natural harbour on the Mediterranean, offering Lake Como scenery against the backdrop of the turquoise Adriatic.

Here, you’ll find the new Mediterranean hotspot in the coastal town of Tivat at Porto Montenegro, an elegant, nautical village and community built around a 450-berth superyacht marina.

The boutique development was designed to attract seafarers and cosmopolitan explorers who have grown weary of the crowded harbours in Monaco, Saint Tropez, and Capri.

In South Village, you’ll experience a Rodeo Drive-like shopping experience along the port, fine dining with some of the freshest seafood imaginable, and high-end residential living at both the Elena Residences and the hotel-managed Regent Club.

Owners benefit from an incredible lifestyle, as well as by-invitation-only events, privileged access to the Porto Montenegro Yacht Club, and membership to the Porto Montenegro Owners’ Club.

The yachtsmen’s paradise is only 40% complete and on schedule to expand into five interconnected neighbourhoods over the next 10 years. These connected communities will be an extension of the original ethos: the epitome of waterfront living.

What’s Next

Construction is already under way for Boka Place, a residence and planned community built around the five-star health and wellness lifestyle concept hotel and fitness hub, SIRO Hotel & Residences. Featuring a unique and innovative focus on holistic health and wellbeing throughout the community, Boka is set for completion in 2024.

In a nod to the port’s naval past, the iconic Synchro building—once used to repair submarines—will be reimagined as a community hub for music, fashion and culture with a performance and events space. The new community built around Synchro and in close proximity to the Porto Montenegro Yacht club will feature designer waterfront residences and a luxury hotel and spa within a beachfront setting.

The sports and tennis centre that makes up the former naval dockyard will transform into an entire tennis-centric neighborhood known as North Village, with residences, retail, and restaurants built around a central hub for sporting and small tournaments. Finally, the community of Park Gardens is planned as a resort-style oasis featuring lush landscaped and a network of swimmable waterways.

The heart of the project, the superyacht marina, will also nearly double its capacity to 850 berths with 315 designated superyacht slips, alongside an expansion of crew lifestyle-focused amenities within the community.

And across the bay, a new superyard shipyard called Adriatic 42 is being developed in partnership with Porto Montenegro and DryDocks World, designed to service the largest superyachts in the world, and transforming the region into a year-round destination.

The Story of Porto Montenegro

Standing in the superyacht marina, surrounded by its beautiful Venetian-Renaissance architecture, it’s hard to imagine that less than 20 years ago, the waterfront of Tivat, Montenegro was a derelict port with a stone wall blocking its iconic coastal views.

In 2007, a group of investors led by Canadian entrepreneur and business magnate Peter Munk bought the land and news of his vision to transform the former Yugoslav naval base into a luxury marina raised eyebrows.

Munk saw the clear opportunity to tap into the growing luxury yachting industry. The Canadian billionaire had personally experienced the high demand and short supply of superyacht slips throughout the Mediterranean and the deep water of Kotor provided ideal conditions for superyachts.

Above: Peter Munk aboard his superyacht, Golden Eagle (“The Luxury Collection Montenegro”, vol. 11)
His team of co-investors included Lord Rothschild and his son Nathanial; Bernard Arnault, the chairman of LVMH; the eastern European property developer Sandro Demijan; Russian oligarch Oleg Deripaska; and Munk’s son Anthony.

That timing was a sweet spot for transformation in Montenegro, newly independent from Serbia and about to officially adopt the euro currency. Even so, it was hard to imagine the Balkan Riviera could become a superyacht sanctuary and a playground for the ultra-rich.

Munk moved the project forward by personally approaching the prime minister with his plans, and the Montenegrin government went on to set a new international standard for reducing business barriers while establishing Tivat as a high-end tourist destination.

Developing this vision in Montenegro required an investment in creating best-in-class infrastructure, building the marina, roads, utilities, landscaping, the Regent Hotel, residential and retail villages, and the international school.

In 2016, the Investment Corporation of Dubai (ICD), the principal investment arm of the Government of Dubai, acquired Porto Montenegro and is managing and executing its visionary masterplan for the future.

In 2016, Munk sold his 54% stake to the Investment Corporation of Dubai (ICD), who currently own Porto Montenegro. His superyacht, Golden Eagle, remained docked in Porto Montenegro.

An Attractive Investment

Montenegro’s unique citizen-by-investment program is available until December 2022 and provides foreigners the opportunity to invest in property and obtain a Montenegrin passport, an especially attractive offer given the nation’s impending European Union acceptance.

Combined with an attractive tax rate and competitive transfer, inheritance, and estate taxes, these incentives have led to an influx of investment and new development in the country.

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Life is good on the Balkan Riviera

With an abundance of superyachts and luxury amenities, including fine dining and high-end retail, Porto Montenegro is one of the most attractive destinations on the Mediterranean and has a bright and promising future ahead.

Affluent and well-heeled, the cosmopolitan and multicultural community in Porto Montenegro reflects its trend as a hotspot for the ‘global citizen’, with residents from over 40 countries relocating to Montenegro to live, play, and work in style.

The luxury tourism boom in Montenegro has led to the rise of beach clubs like the Nikki Beach Hotel & Beach Club in Radovići and the Buddha-Bar Beach in Porto Montenegro (pictured above), newly opened in May 2022.

Discover Porto Montenegro

With a population of just 621,718 citizens, it becomes easier to understand why the Connecticut-sized Montenegro still feels like a well-kept secret.

Montenegro boasts 300 km of Mediterranean coastline and 300 days of sunshine each year.

Almost in spite of Tivat’s transformation into “the premium yachting hub” in the Mediterranean, the tiny, Balkan nation will always feel like an undiscovered paradise with its pristine coastline and rugged, natural landscapes.

A few opportunities remain in the coveted heart of Porto Montenegro

South Village, the first of the 5 planned communities of Porto Montenegro, is almost fully sold out after a record-breaking sale season.

Looking for a swanky penthouse unit with sea views and a rooftop terrace? A 2-bedroom corner unit in the Regent Pool Club Residence is still available for €2.32M.

And with the growing demand for vacation rentals in the region, the built-in property management services available ensure that your property is managed, rented, and maintained in your absence.

While waterfront living has been mostly bought up throughout Porto Montenegro, at the Elena Residences an incredible 4-bedroom penthouse (still available at the time of publication) for €5.09M.

Interested in learning more about this unique development and discovering available residential units?