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Holiday homes in Montenegro: £1 billion investment for majestic Boka Bay, with 1,500 homes, golf course, marinas and hotels

Holiday homes in Montenegro: £1 billion investment for majestic Boka Bay, with 1,500 homes, golf course, marinas and hotels

28.06.2021

Montenegro is small but it has big plans for the future. Live among the locals fr om £122k.

The small Balkan state of Montenegro, once part of Yugoslavia, has grand plans for its future.
It aims to capitalise on having one of Europe’s most arresting locations, majestic Boka Bay, with high-quality homes in a little-known destination within three hours of most European capitals.
Boka Bay is the focus for most large-scale development in Montenegro and is exceptional, a fjord-like inlet off the Adriatic Sea stretching for 17 miles under steep forested mountains to the Unesco World Heritage town of Kotor.
Children jump and swim around the water’s edge, 65 miles in all, while in the middle of the bay, the scenic 15th-century church of Our Lady of the Rocks sits on its own man-made island.

The lowdown on Lustica Bay
New resort Lustica Bay welcomed its first residents and yachts last year and has already set remarkable records.
It is Montenegro’s largest and most expensive project with an investment of close to £1 billion and plans for 1,500 homes over the next 10 years.
There will be two marinas, seven hotels — the 111-room five-star Chedi Hotel is already open — and Montenegro’s first 18-hole golf course, designed by Gary Player.

Developer Orascom, in a joint venture with the government of Montenegro, plans a new town on a huge 1,700-acre greenfield site directly on the Adriatic Sea.
By adding schools, medical centres, supermarkets and sports facilities in carefully landscaped grounds they aim to encourage a year-round community, somewhere local families will want to live just as much as holidaymakers.
Homes at Lustica Bay range fr om studio apartments in Centrale, the workaday heart of the resort, from £122,500 and two-bedroom homes of 797sq ft from £201,500 up to substantial detached villas with private gardens and pools for over £1.8 million.

Two- and three-bedroom townhouses with private gardens, pools and garages start from £756,000.
Orascom has many similar and successful “new town” developments under its belt including Andermatt in Switzerland. Its detailed master plan at Lustica Bay allows for a community — eventually — of up to 14,000 residents.
“The vision for Lustica Bay is bold and ensuring the infrastructure is in place is critical,” says chief executive Darren Gibson.

“Orascom has a long-term vision and the financial back-up to pay for it. What really resonates with our buyers is the open space wh ere we will only develop 10 per cent of the total site, the golf course, the direct and open access to the sea and the combination of quality building with good-value pricing.”

The lowdown on Porto Montenegro
Porto Montenegro is Montenegro’s most established resort, opening in 2009 on the site of a former military marina.
It’s conveniently close to Tivat town and its international airport, and it is popular with visitors who come to eat and shop at the smart restaurants and boutiques while gazing at the dazzling collection of yachts and boats in the 491-berth marina.
Porto Montenegro has 400 completed homes and is selling new one- to four-bedroom apartments from £448,000, most facing the magnificent marina on the bay.

New One & Only hotel
In a prime position at the entrance to Boka Bay, superbrand One & Only is preparing to open its first European hotel at Portonovi next year.
Portonovi is a handsome new resort 10 minutes’ drive from the town of Hercog Novi.
Its highlights include a 238-berth marina taking yachts up to 395ft, a heliport, a sandy beach —rare on this pebbly coast — and 275 homes including 10 One & Only branded villas with private beach and sea access priced from £8.5 million.
Portonovi aims to focus on personal service through full-time concierges, and its wide range of restaurants includes top-end Locatelli and Tapasake.
One- to four-bedroom apartments of 538sq ft to 6,590sq ft start from £358,000 in a mix of handsome contemporary and traditionally styled buildings around the marina.

Credit to: Evening Standard
https://www.standard.co.uk/homesandproperty/wh ere-to-live/holiday-homes-in-montenegro-ps1-billion-investment-for-majestic-boka-bay-with-1-500-homes-golf-course-marinas-and-hotels-a132586.html?fbclid=IwAR39fXxQ-H8B_6_ZoiUc3bdrmyZL0UETG5hxRlNL_NNf4vcv3qVr2Wk7nzc

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  • Last year we decided to find a new home close to the sea. It was quite difficult in the beginning to make the right choice. Once we found CMM Company was a great luck! We immediately received detailed consultation on the country and purchase opportunities. Being attracted by Kotor - one of the most amazing parts of the coast, we decided to take a family trip and maybe make our dream of new home come true. As just discoverers of Montenegro, we were accepted like at home which was a one more pleasant surprise. The most important, we received all detailed information about country regions and procedure of buying property during the first few days. And how beautiful the car journeys were! Difficult choice, but when you find the home you want you can't refuse it. CMM did best to help us with this finding! All the purchase procedure passed well with CMM professional work! Now we are happy owners of a wonderful house with a Kotor bay view, being perfectly served by CMM Management company (of course, we've chosen CMM as professional house manager). Hope our friends and relatives would also move to Montenegro with the CMM help soon !!!

    Kate, 22.03.2019 13:06:21

  • Just a brief thanks to CMM! I was buying a plot for house construction. They found the best possible options for my inquiry, replied all my questions and made full accomodation till the deal close. Responsible managers, quality service. So greatful to the Company for the job done!

    Noah, 15.03.2019 13:13:00

  • Dear CMM team, just to leave a small feedback on the superjob you've done ! It was not an easy period for us with a child. As we had to sell our home property and decided alternatively buy some nice house at Montenegrin coast. We were truly frightened at the start. My colleague, being your customer, gave a good recommendation, so, we called the office. All the part, covering seach and purchase in Montenegro, was quickly, safe and perfectly done. Good luck and further success and propsperity to the company! Special thanks to Alexander and Snezana for professional approach!

    Mariana , 06.03.2019 13:06:00

  • Always thought that buying property abroad isnervous and difficult task. CMM changed my mindset. I felt support and care in every step: from the first call arranged till receiving the Owner's list. I am also happy about how they make my apartment management. Now, whenever me or my family members come home to Montenegro, I am absolutely confident that my apartment is in the best condition!

    Harry, 26.02.2019 13:11:00

  • Good day! The first time we met professionally organised step by step work with property in the Southern country. It was a nice surprise for me and my spouse. Well-established algorithms helped us to understand country, its particular features, pluses and drawbacks. Professional manager (Petar Kuzmich) helped us to avoid mistaken choice and provided a really wide number of options to choose from. We felt and still do absolutely safe while buying a house. Happy to come across with your company! Will recommend to our neighboors and family friends in first Norway home.

    Alice and Andrew, 05.02.2019 13:04:00

  • As people from the North, we would express our gratitude to CMM team for advice and professionalism! Never met this before dealing with real estate. Perfect job, super-trained experts! Thanks Google we reached you. Now holidays only with CMM! My daughter is in love with Montenegro. Now started to persuade me to buy some flat on the coast. We know to whom to turn for professioanl help now!

    Oliver, 23.01.2019 13:08:00

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