€354m to be invested in three major tourist projects in 2018

This year, a total of €354m will be invested in three most important tourist projects in Montenegro – Portonovi, Lustica Bay and Porto Montenegro. The projects are worth €2.23bn.

The biggest this year’s investments will be carried out by the Azmont Investments company, implementing the Portonovi project in Kumbor.

“We are planning to open resort with the marina this year and the first European One&Only hotel next year,” Adrijana Husic, Corporate Communications and CSR manager.

This year, Lustica Development plans to invest around €50m in its Lustica Bay project, which is the single largest investment in Montenegrin tourism. Its focus will be the opening of The Chedi hotel, the first one on Lustica peninsula and one of the largest in the Bay of Kotor, as well as a marina with 176 berths. “By the end of summer, The Chedi Lustica Bay will be opened, the first luxury five-star hotel in the Lustica peninsula,” said Dragana Becirovic on behalf of Lustica Development.

The construction of Porto Montenegro will be continued this year, although the investor has already exceeded the planned €450m investment. Porto Montenegro’s this year’s projected investments amount to around €14m. The sum will be invested in construction of a new business and residential facility within the second phase of the Regent Pool Club Residences complex.

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