Projects-Montenegro updated


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Current projects and developers in Montenegro

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Projects-Montenegro updated

  1. 1. M o n t e n e g r o pearl of Mediterranean September2010
  2. 2.  In the period after obtaining independence, Montenegro has become a very attractive real estate market for both domestic and foreign investors. This is confirmed by a significant influx in the real estate market.  A stable macroeconomic situation, continued improvement of credit ratings, favorable tax systems, simplification of business procedures, and progress in processes of integration (EU and NATO), additionally strengthens the attractiveness of the Montenegrin real estate market. This is especially significant for investors who regard Montenegro as a possible starting point for future activities in the region.  UK Financial Times article from December 28th 2009 placed Montenegro on a 4th position as a place to invest in 2010: “.. Montenegro appeared relatively recent on the second-home buyer radar - in effect only since its split from Serbia in June 2006. It has a small but attractive coastline with little room for significant resort development, limiting the risk of oversupply. And property prices - at €1,550-€3,100 per sq meter on average for new developments - are cheap when compared with many established European locations although they can go as high as €4,000-€5,500 per sq meter. In the longer term, Montenegro aspires to European Union membership, which will significantly lower its risk profile…”
  3. 3.  Capital projects in tourism announced till 2010  Porto Montenegro – Pitter Munk Four Seasons  Sveti Stefan Island Milocer Aman Resorts  St Marco Island – Metropol Group Banyan Tree
  4. 4.  Lustica Development- Orascom Egypt – Government of Montenegro  Blue Horizon-Qatari Diar  Rose resort-Equest Capital Partners  Atlas Capital Center –Capital Investments UE Hilton  Rezevici -Kempinski resort  Valdanos – Cubus Lux UK
  5. 5. The Porto Montenegro,700mil project in Tivat, initiated by the Canadian industrialist and Barrick Gold Chairman Peter Munk, is by far the largest such venture so far. Four Seasons will build a 300 bed hotel in Tivat within the project Porto Montenegro. The construction will begin this autumn and is scheduled for completion by 2010.It will be the first Four Seasons hotel on the Mediterranean. It envisions a massive, 800berts mega-yacht marina in the former Arsenal shipyard which occupies around 24hectares The Porto Montenegro,400mil project in Tivat, initiated by the Canadian industrialist and Barrick Gold Chairman Peter Munk, is by far the largest such venture so far. Munk's project also calls for an exclusive marina, with full boat repair and servicing facilities and a golf course.
  6. 6.  Aman Luxury Hotel and Resorts investing EUR 100mil in the three Montenegrin hotels they leased on 30 years. Sveti Stefan Island and Milo er will be managed by Aman, while General Hotel Managementč (GHM), Aman’s sister company will manage Kralji ina Pla a Hotel.č ž Sveti Stefan Island
  7. 7.  The METROPOL Group's development project for the Saint Marko Island, one of the biggest islands in Montenegro, worth 400mil€ . The resort will be managed by the famous Banyan Tree company
  8. 8.  Lustica development has started a preparatory work for the construction of tourist complex on the Lustica peninsula  Lustica Development AD was founded in 2008. The company is a joint venture between Orascom Development Ltd. (90%) and the Government of Montenegro (10%). The plan is to create and operate the holiday resort that offers a wide range of amenities including 8 hotels, 1,600 apartments, 750 villas, a downtown area with all the necessary facilities offering shops, schools, medical services; 2 marinas, water sports opportunities, a conference centre, a Thalassic centre and an 18-hole golf course.  It is scheduled that the first stage of the project at the end of 2013. The whole project is worth of 1,1 billion of Euros. 
  9. 9.  Qatari Diar, is planning the construction of a new modern hotel complex, at the place where is now Blue horizon. Qatari Diar is the biggest investor who ever came to Montenegro and the region in general, their portfolio in contracted jobs count for hundreds of billion dollar measure. It is a fund that is owned by the State of Qatar, and the ruling Al-Thani family, it is an emirate, rather than classical state. The head of the fund, as president of administration, is Sheikh Hamad bin Jasim bin Jabor al-Thani, who is also Prime Minister of Qatar, Minister of Foreign Affairs and one of the most influential members of the royal family. Blue Horizon investment worth 400mil eur Qatari
  10. 10. Rose-Lustica Peninsula  The Equest Partners lease on 99years from the Government around 80hecatres on the front line of the sea, and there will be hotel, villas under the hotel management, all kind of facilities..  Resort worth 500mil eur
  11. 11.  The development area comprises some 3.4 million sq m, and includes around 3 km of coastline which is believed to be the last stretch of available coastline in Montenegro. The Company's tender submission proposes a development which would include: * A golf course, with a 4 star golf hotel (400 beds) and villas (for sale); * A 5-star beach hotel (500 beds) with villas and apartments (for sale); * A 4-star hotel (400 beds) including a Wellness centre and Spa, with villas and apartments (for sale); and * Amenities such as a casino, a night club, a water park, around 15 restaurants, and other communal facilities. Valdanos project The resort is expected to create between 400 and 600 jobs locally once complete.
  12. 12. Atlas Capital Center
  13. 13.  The project will be developed as a mixed-use project which will comprise of retail and residential space in order to capitalize on the synergies of all those developments and to generate additional traffic to the area.  According to the preliminary plans, Atlas Capital Center will include 12 992 m2 of 90 business apartments (apartments will range in size from 80 to 340 m2), 14 678 m2 office space, 12 625 m2 of retail space and 14 352 m2 will be reserved for the hotel.  Total area is 84 600 m2.  The developer plans include a three level garage space, which will be placed in an area of 28 995m2, and which will certainly differentiate the project by addressing the issue of residents’ parking.  Atlas Capital Center is scheduled for completion in Q1 2010  Project value:120mil Atlas Capital Center
  14. 14. On 15.january 2009, VAS Invest signed a memorandum with Kempinski for building of luxury hotel of highest standard in locality of Smokvica, 12 km south from Budva and 5 km from Sveti Stefan. Building should start in March this year. Russian company VAS Invest will build hotel and Kempinski will take management over hotel. VAS Invest bought last year over 200000 m2 of the land for 30 million of Eur, together with a bay of Smokvica, untouched beauty of Adriatic sea. They will build city hotel with villas over bay, together with sport terrains, wellness and spa center.Worth of project is estimated to 100 million of Euros. Kempinski have 110 luxury hotels throughout a world, some of them are The Emirates palace, Ciragan palace in Istanbul , Grand hotel in St Moritz…
  15. 15. Similar announced developments in Montenegro  ALT Developments - Maljevik Bay – Bar Municipality  Royal Montenegro-Golf courses and two hotels  Hotel As – Perazica Do – Budva Municipality
  16. 16. ALT Developments  Maljevik Bay  202.000sqm land –planned objects around 260.000 sqm gross  The plan includes rent-a-villas(50.000sqm), mixed-use and civic building, apartments units(130.000sqm) and exclusive hotel resort(80.000sqm), inspired by the historic towns and villages including Kotor and Sveti Stefan in Montenegro and Cavtat and Dubrovnik in Croatia  The investment estimated at 150 mil Eur
  17. 17. ALT Developments
  18. 18. ALT Developments
  19. 19.
  20. 20. Very low density project - 18 holes golf course with condominium and villas, five star hotels and club house Investment estimated at 200mil
  21. 21. Hotel As  The Russian owned NegaTours is the owner of the As hotel resort in Perazica Dol. Work is near completion on the six-year project to renovate the hotel, add extra 14 stories, build villas, three helipads, and a marina for 50 yachts up to 25 meters. The Total investment will exceed 100m euros NegaTours Ltd
  22. 22. Other developers in Montenegro:  TriGranit  Lamda Developments  The Dorchester Collection Hotel Group  Restis Group  Al Nahyan royal family from Abu Dhabi- First Gulf Bank Capital Investment Hydra Properties  Gintas Group  Bolici Group
  23. 23.  David Stanley Redfern  Porr  Strabag  Delta Group – Real Estate  Oleg Deripaska – RUSAL  Roman Abramowich  Ralph Schumacher
  24. 24. Announced tenders-large investments The €250mn Millennium City Centre will have a multifunctional hall for congressional tourism as well as cultural and other events, a high-class hotel, shopping centers, business spaces, 1,800 parking spaces and numerous green areas.
  25. 25.  Joint venture project with a Government who owns 75% of the land(1500ha)-13km long sandy beach,60 to 100m wide.. 10 billion Eur investment Velika Plaza (Grand Beach)
  26. 26.  Tender for 500 hectares of Ada Bojana Island for the development of upscale tourism, including up to 2,500 hotel beds,to be managed by a recognized international hospitality brand or brands. Ada Bojana
  27. 27.  Anex Consultancy is a premium real estate consulting & brokerage company based in Montenegro.  Our special Focus is on Real Estate developments and investments into Real Estate sector. Our special mission is to attract foreign direct investment and facilitate its establishment in Montenegro  We delivers a comprehensive and flexible range of property related services including initial screening of the most valuable investment opportunities, search & acquisition of land, planning, building consultancy, estate strategy, up to the end user sales.  Our dedicated team brings together a wealth of knowledge of local market, people and proven relations with local Governments and authorities on state level  Understanding what is happening in the market, where, how and when gives us the ability to help investors make wise decisions.  Our strength lies within the ability to deliver rather than to discuss it. Presentation prepared by: