Montenegro's Luxury Core: Portonovi Coastal Retreat

Portonovi is a new luxury resort community in Boca Kotora Bay, a UNESCO World Heritage Site. This €828 million ($1 billion) birch project, located in Herceg Novi on a former military base and built by Azmont Investments, includes the D-Marin superyacht marina and Europe's first One&Only hotel resort with a restaurant run by three-Michelin-starred chef Giorgio Locatelli, the Chenot Espace health and wellness center and private beaches. It is designed to attract a global jet set, with real estate prices reaching almost 10 million euros.

The small Balkan republic of Montenegro

has become a new must-see European destination, and its Adriatic coastline has changed radically over the past 12 years with the emergence of new properties, mainly aimed at the luxury market. "Porto Montenegro," a marina and residential development partially funded by Canadian billionaire Peter Monk and launched in 2008, was the catalyst for its transformation.

At the same time, the number of international visitors

rose sharply and reached pre-pandemic record levels, according to the official website of the Government of Montenegro. Among the visitors is Brooklyn, the eldest son of Victoria and David Beckham, who plans to get married at the Aman Sveti Stefan resort hotel near Budva. Montenegro's coastline, known as the new French Riviera or Monaco without the high prices thanks to its luxury resorts and unspoiled landscapes, has magnificent views, magpie roofs of orange-red terracotta, green valleys and wooded cliffs reflected in calm blue-green waters.

The borders of Portonovi are on the northern coast of the Adriatic Sea in Montenegro.

It is located at the entrance to Boku Kotor Bay, which is a reconstructed river valley open to the sea and has the drama and scenery of a fjord. High limestone cliffs, green valleys and headlands, and crystal clear waters - this represents Portonovi. The northern border is formed by the E65 highway and the southern border by the Adriatic Sea. On the west side it borders the coastal town of Herceg Novi, which has a 15-century history, impressive fortresses and winding streets, while the eastern border is formed by the E65 highway.

Portonovi has 218 dwellings,

including 50 rental properties which are currently under construction. Studios cost from €345,000; one-bedroom apartments from €550,000; two-bedroom apartments from €975,000; three-bedroom apartments from €1.15 million; and four-bedroom apartments from €1.84 million. Sky Villas (penthouse duplexes), on the other hand, are priced from 7.95 million euros, while One& private homes;

218 Portonovi homes are divided between Village Residences, Marina Residences, Sky Villas and One&Only Portonovi private homes,

and each has its own unique size and look. This 64-acre resort town looks like a Mediterranean village with low buildings on the waterfront featuring apartments, stores (opening in 2019), bars and restaurants that sprawl along landscaped walkways, as well as boardwalks, landscaped green spaces and a central plaza. Portonovi's architecture reflects the traditions of the Adriatic coast and surrounding historic towns such as Herceg Novi, according to Azmont Investments. While most residences in Portonovi have water views, Marina Residences are right on the waterfront and offer the best views of the sea and Boca Kotor Bay.

The service, facilities and amenities of Portonovi make it unique among other projects of this type,

according to its developers. In addition to the resort, the surrounding Boka Kotor Bay offers mountain hiking and trekking, while the coast offers sailing opportunities and underwater caves for swimming and snorkeling. Good skiing opportunities can be found in the resorts of Vuche (2 hours 20 minutes), Lokwem (4 hours) and Haila (5 hours). Herceg Novi and the historic town of Perast (14 miles), neighboring Sveta Maria Island, as well as the walled medieval and Venice-created Kotor (22 miles) have plenty of cultural attractions, restaurants, cafes and stores.

The community of Portonovi resort has a marina D-Marin Portonovi,

The marina has the capacity to accommodate 238 yachts up to 120 meters long. Portonovi residents who have yachts can use these moorings. One& private homeowners; These 10 homes also have their own private beaches and will be launched later this year. One& It has a private sandy beach and the Chenot Espace Health Center, an innovative spa offering a wide range of health treatments incorporating Chinese medicine and Western technology, "next generation technology" for skin care and personalized fitness training.

The Portonovi resort community offers a variety of services and amenities for the community,

such as a daycare center, community parks, two art galleries and the Portonovi Beach Club. It also has a gourmet supermarket Idea, fine dining restaurant Bloom, a gelateria, bank, beauty salon, gym and over 20 private pools. In the evening, the Maison du Monde café offers fine French cognac, while the Koffein coffee shop turns into a lounge and regularly organizes live performances from jazz singers to DJs, with views of the bay and mountains. At One&O.

Rich parents enroll their children in Arcadia Academy,

The Cambridge International School in Lesevici, near Tivat, for students aged 3 to 18, offering a British education. Ahmet Erentok, chairman of Azmont Investments, the developer of Portonovi, said he expects Portonovi residents to be "global citizens who need a safe haven in an idyllic location, and thus we have noticed interest from the UK, Europe, Russia and America." Michael Ward, who was born in the UK and lives with his wife Amra and their two children on the bay in Tivat, noted that "the lifestyle in Montenegro is a 'Mediterranean' lifestyle, which ironically required several years of dedicated practice before we fully adapted. The local culture is very traditional and family-oriented, with a healthy bias towards food and drink." The couple purchased a vacation home in Boké Kotor Bay in 2002 and then moved there permanently in 2004. The couple now run MoHo Montenegro, a real estate development company specializing in the construction and management of exceptional luxury residential properties. "We also feel very safe here as a family with young children, and in terms of risks to our business, all of which may not be an obvious attraction given the turbulent history of the wider region," he added.

Miroslav Mišković, the prominent owner of Delta Holding and the second richest man in Serbia, lives a 10-minute drive from the old town of Herceg Novi and his family often uses the marina in Portonovi, the developer said. Serbian businessman and politician Bogљub Kariћ also has a house in Herceg Novi. Outlook Agents predict that Portonovi could give a boost to the real estate market in surrounding areas, including Herceg Novi, similar to how Porto Montenegro changed the fortunes of Tivat. A forecast report for October 2020 to March 2021 from Savills' affiliate, Dream Estates, showed that the development of Porto Montenegro has increased demand for the entire Tivat area. The increase in the value of non-premium properties in Tivat is entirely due to what Dream Estates called the "Porto Montenegro effect". The report said that in 2019, the cost of housing in Tivat averaged 2,700 euros per square meter, making it the most expensive area in Montenegro.