This summer is a perfect time to venture to the Adriatic coast of Montenegro and discover the spectacular Bay of Kotor. Here, islands and coves create harbours, havens – and opportunity.
Nestled in the bay, with its own international airport nearby, is the historic town of Tivat, home to the deep water marina and luxurious residential village of Porto Montenegro – one of Europe’s best kept secrets.
This year, we are thrilled to tell you more about the village’s new jewel, Boka Place – a rare chance to create an easygoing yet elegant lifestyle, become part of the vibrant and welcoming community that’s already well established in Porto Montenegro, and make a sound investment.
Due to be completed in 2023, this lively, top-of-the-line urban neighbourhood has been designed for year-round living, with a focus on wellbeing and fitness. It features a wide variety of residences, high-quality retail outlets, extravagant eateries, a new flagship SIRO hotel, and a plethora of entertaining activities for families, couples and friends. With its distinctive style and privileged position, Boka Place also presents an excellent investment opportunity, in terms of both capital appreciation and the option to benefit from a well-established and proven rental management programme.
Owned by the Investment Corporation of Dubai (ICD), whose portfolio includes Emirates airline, One & Only Resorts and Emaar Properties, Porto Montenegro has established itself as the premier real estate investment opportunity in the region, with a track record of delivering strong returns to investors. Construction of its latest project, Boka Place, began in September 2020 and, despite the challenges brought by the global pandemic, remains on track for completion in 2023.
But life in Porto Montenegro is not just about exciting new developments such as Boka Place; it’s about character and essence – both of which come in abundance in this exceptional waterside community and the surrounding area of Kotor Bay. As Montenegro welcomes more and more international travellers, Porto Montenegro stands out as the most attractive and dynamic destination in the region – a place where visitors encounter new experiences, discover wondrous sights, and fall in love with everything but an ordinary way of living.
A new shopping, dining and hospitality hotspot on the Adriatic
Conveniently located at the entrance of Porto Montenegro, Boka Place is just a few steps away from the buzz of the marina and the glamour of the Yacht Club. On completion, it will bring together 45 new retail offerings – from shopping and dining to recreation and entertainment. Shops will range from international lifestyle brands to purveyors of everyday essentials, including a flagship market and food hall to meet the needs of Boka Place residents. Spread across 7,400 sqm of land, the neighbourhood will also feature a multi-screen cinema complex, and will host a plethora of cultural events showcasing music, art and food.
The Boka Place community was particularly thrilled by the announcement that the neighborhood will welcome the first hotel SIRO – a new hospitality concept created by Kerzner International, the group behind Atlantis and One & Only Resorts. Adding dynamism to the neighbourhood and encouraging a health and fitness-infused lifestyle for hotel guests and Boka Place residents alike, the 96-room SIRO will feature an exceptional wellness sanctuary and fitness centre. Available to all residents, the immersive lifestyle experience offered by SIRO will redefine the notion of wellbeing.
Relaxed luxury living has a new home
Boka Place is a gateway to Porto Montenegro’s laid-back elegance, coupled with its magnificent natural setting. It is positioned to become one of the Bay of Kotor’s most sought-after locations, offering relaxed urban living and a sense of privacy within robust infrastructure. Residents will benefit from invitation-only events and exciting summer clubs for kids, among other privileges.
Boka Place will feature a total of 213 residences, including studios, one-, two-, and three-bedroom apartments and penthouses, and two- and three-bedroom duplexes. Buyers may choose from a range of SIRO-managed residences or purchase their own private units, with property prices starting from €190,000.
As a valuable added dimension to investment in one of the 144 SIRO-managed residences, homeowners are eligible for lifetime citizenship under Montenegro’s Citizenship by Investment Program (MCIP) – a government policy that will come to an end on the final day of 2021. As well as their new Montenegrin passport, offering visa-free access to 124 countries, owners of SIRO-managed residences will benefit from 5-star hotel services and the hotel’s world-class fitness facilities and wellness centre, In the past 12 months, more than 50 per cent of the SIRO-managed residences have already been purchased or reserved.
The 69 private residences in Boka Place offer exclusive access to their own pool, as well as privileged access to SIRO wellness programmes. Porto Montenegro offers management of these units as part of its bespoke M-Residences rental management scheme, a well-established programme with a proven track record of return on investment. As an added attraction for buyers, Boka Place offers a staged payment plan for its private residences, aligning with construction milestones until completion.
A compelling investment, residence in a tourism-driven economy with one of Europe’s most favorable tax regimes and, for those who qualify, a strong passport, are just some of the benefits you can get by investing in Porto Montenegro’s Boka Place.
The world’s first platinum marina
Porto Montenegro first gained global recognition thanks to its luxury superyacht marina. A leading homeport in the Mediterranean and a TYHA Platinum Marina Award winner, it is the first marina ever to hold the 5 Gold Anchor Platinum accreditation. The marina community is an important foundation-stone of the nautical village at Porto Montenegro and its fully-established development.
Perfectly situated for access to the exciting cruising grounds of the Adriatic and Eastern Mediterranean, with flexible berthing packages and tax-free fuel among its many benefits, the marina offers state-of-the-art facilities and infrastructure, coupled with excellent service. A new shipyard will open soon, offering superyacht repairing and refitting facilities, adding to the marina’s appeal as a great winter berthing location.
Porto Montenegro’s setting in the Bay of Kotor makes it a ideal base to curate itineraries, set sail to nearby beach clubs such as the famous Almara and Nikki Beach, or just sit back and enjoy the wild beauty of the scenery.
The team behind the masterpiece
David Leverett is the project director of Boka Place and manages the team responsible for bringing the new neighbourhood to life. David has more than 35 years of experience in delivering exceptional projects around the globe, including in the UK, Poland, Australia, Egypt and Kazakhstan.
“Community is at the heart of the design of Boka Place. With its beautifully landscaped external spaces, easy public access, a retail mall, and restaurants cafes and bars, there will be something for everyone. It will complement the current Porto Montenegro development, as well as reinforcing Tivat’s status as a key destination on the Adriatic coast.” – David Leverett
David masterfully led his team through the challenges of the global pandemic, amid which the construction started. The team of more than 150 employees has worked tirelessly to secure supplies of materials, services, and the continuation of construction activities, ensuring that Boka Place remains on track for its scheduled completion in 2023.
Development of Porto Montenegro’s newest neighbourhood is quickly gathering pace and, for those who decide to become part of the Boka Place journey by investing in the property and citizenship, it promises to deliver a very solid return on investment – both financially and in terms of an exceptional lifestyle.
To find out more about Montenegrin Citizenship by Investment Programme and investment opportunities at Boka Place, contact us at Porto Montenegro today.
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