Real Estate projects in Montenegro


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Announced large investment into real estate sector in the Montenegro, list of major developers, and announced tenders for large projects in tourism sector

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Real Estate projects in Montenegro

  1. 1. M o n t e n e g r o pearl of Mediterranean April 2009
  2. 2. <ul><li>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. </li></ul><ul><li>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. </li></ul><ul><li>UK Financial Times article from December 28 th 2008 placed Montenegro on a 4 th position as a place to invest in 2009: “.. 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 …” </li></ul>
  3. 3. <ul><li>Capital projects in tourism announced till 2009 </li></ul><ul><li>Porto Montenegro – Pitter Munk </li></ul><ul><li>Four Seasons </li></ul><ul><li>Vas Invest - Kempinski </li></ul><ul><li>Sveti Stefan Island </li></ul><ul><li>Milocer Aman Resorts </li></ul><ul><li>St Marco Island – Metropol Group </li></ul><ul><li>Banyan Tree </li></ul>
  4. 4. <ul><li>Skocidjevojka Project – </li></ul><ul><li>Lustica peninsula </li></ul><ul><li>Orascom - Joud Fund </li></ul><ul><li>Mirax Group -Hyatt </li></ul><ul><li>Atlas Capital Center –Capital Investments UE </li></ul><ul><li>Hilton </li></ul><ul><li>Valdanos – Cubus Lux UK </li></ul>
  5. 5. <ul><li>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. </li></ul> 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. On 15.january, 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…
  7. 7. <ul><li>Aman Luxury Hotel and Resorts investing EUR 60mil in the three Montenegrin hotels they leased on 30 years. Sveti Stefan Island and Miločer will be managed by Aman, while General Hotel Management (GHM), Aman’s sister company will manage Kraljičina Plaža Hotel. </li></ul>Sveti Stefan Island
  8. 8. <ul><li>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 </li></ul>
  9. 9. <ul><li>Mirax Group LLC started with invest over €200 million ( $296.9 million) to build a seaside resort in Montenegro. Mirax Group has launched the project in the most popular part of the Montenegrin coast - the Budva Riviera. The resort will include a hotel, residential and recreation facilities with a total area of 94,000 square meters on 8.7 hectares. It will have luxury villas spread on 26,000 square meters and a residential building and hotel complex covering 30,000 square meters each. Obviously, by new detailed plans of Budva Municipality, they will get a 25-40 floor skyscraper hotel and docks for luxury yachts. Hotel will be by the shape similar to hotel BURJ AL ARAB in Dubai.MIRAX Group is known for its Federation Tower project in Moscow and many other investments throughout a world. </li></ul>
  10. 10. <ul><li>Hyatt Hotels and Resorts company will do the management of the hotel </li></ul>
  11. 11. <ul><li>Skocidjevojka Project - Budva </li></ul><ul><li>It is situated 8km south of Budva and 4km north of Petrovac. </li></ul><ul><li>Site is 66.000sqm </li></ul><ul><li>Brand name five star hotel – 210 rooms on 25.000sqm </li></ul><ul><li>Luxury villas on 35.000sqm,each around 700sqm </li></ul><ul><li>Marina </li></ul>
  12. 12.
  13. 13. <ul><li>The development project plan for Lustica project involves the construction of a hotel complex with 3,320 beds, one golf field, three marinas, one main marina with 100 places and two supporting ones, schools, hospitals, restaurants, bars, shops and a craftworks center. The hotels will be managed by the international, renowned companies, such as Ritz, Carlton, One & Only, Park Hyatt, Sheraton, Six Senses. </li></ul><ul><li>Orascom would invest into the Lustica project and in Montenegro in general approximately EUR 1.1 billion, and the project would create approximately 10,000 jobs, out of which 9,000 in the hotel industry. </li></ul>Lustica project
  14. 14. <ul><li>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. </li></ul>Valdanos project The resort is expected to create between 400 and 600 jobs locally once complete.
  15. 15. Atlas Capital Center
  16. 16. <ul><li>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. </li></ul><ul><li>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. </li></ul><ul><li>Total area is 84 600 m2. </li></ul><ul><li>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. </li></ul><ul><li>Atlas Capital Center is scheduled for completion in Q1 2010 </li></ul><ul><li>Project value:120mil </li></ul>Atlas Capital Center
  17. 17. <ul><li>Similar announced developments in Montenegro </li></ul><ul><li>ALT Developments - Maljevik Bay – Bar Municipality </li></ul><ul><li>Royal Montenegro-Golf courses and two hotels </li></ul><ul><li>Hotel As – Perazica Do – Budva Municipality </li></ul>
  18. 18. ALT Developments <ul><li>Maljevik Bay </li></ul><ul><li>202.000sqm land –planned objects around 260.000 sqm gross </li></ul><ul><li>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 </li></ul><ul><li>The investment estimated at 150 mil Eur </li></ul>
  19. 19. ALT Developments
  20. 20. ALT Developments
  21. 21.
  22. 22. <ul><li>Very low density project - 18 holes golf course with condominium and villas, five star hotels and club house </li></ul><ul><li>Investment estimated at 200mil </li></ul>
  23. 23. <ul><li>Hotel As </li></ul><ul><li>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 </li></ul><ul><li>NegaTours Ltd </li></ul>
  24. 24. <ul><li>Other developers in Montenegro: </li></ul><ul><li>TriGranit </li></ul><ul><li>Lamda Developments </li></ul><ul><li>The Dorchester Collection Hotel Group </li></ul><ul><li>Restis Group </li></ul><ul><li>Al Nahyan royal family from Abu Dhabi- </li></ul><ul><li>First Gulf Bank </li></ul><ul><li>Capital Investment </li></ul><ul><li>Hydra Properties </li></ul><ul><li>Gintas Group </li></ul><ul><li>Bolici Group </li></ul>
  25. 25. <ul><li>David Stanley Redfern </li></ul><ul><li>Porr </li></ul><ul><li>Strabag </li></ul><ul><li>Delta Group – Real Estate </li></ul><ul><li>Oleg Deripaska – RUSAL </li></ul><ul><li>Roman Abramowich </li></ul><ul><li>Ralph Schumacher </li></ul>
  26. 26. <ul><li>Announced tenders-large investments </li></ul>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.
  27. 27. <ul><li>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 </li></ul>Velika Plaza (Grand Beach)
  28. 28. <ul><li>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. </li></ul>Ada Bojana
  29. 29. <ul><li>Blue Horizon </li></ul>Properties to see
  31. 31. Blue Horizon
  32. 32. C oncept and Areas 5-star hotel resort Residential apartments Luxurious villas <ul><li>Total gross land area – 616 . 822 m2 </li></ul><ul><li>Gross buildable area – 105.270m2 </li></ul><ul><ul><li>Hotel , Congress Center, SPA – 36.559 m2 </li></ul></ul><ul><ul><li>Residential apartments - 62.447 m2 </li></ul></ul><ul><ul><li>Villas - 6.264 m2 </li></ul></ul>Blue Horizon
  33. 33. <ul><li>Anex Consultancy is a real estate consulting & brokerage company based in Montenegro. </li></ul><ul><li>We are consisted of group of people from Montenegro that have international experience in real estate business. </li></ul><ul><li>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 </li></ul><ul><li>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. </li></ul><ul><li>Our dedicated team brings together a wealth of knowledge of local market, people and proven relations with local Governments and authorities on state level </li></ul><ul><li>Understanding what is happening in the market, where, how and when gives us the ability to help investors make wise decisions. </li></ul><ul><li>Our strength lies within the ability to deliver rather than to discuss it. </li></ul><ul><li>Contact us on: [email_address] </li></ul>Presentation prepared by: