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The most expensive resort in Europe: €500 million for “PORTONOVI”

By   /   31/01/2014  /   Comments Off on The most expensive resort in Europe: €500 million for “PORTONOVI”


By Adnan Prekić – Podgorica

After several months of preparatory work, today, in Kumbor on the montenegrin coast officially started the work on one of the biggest tourist complexes in Europe. The company Azmont backed by the Azerbaijan state oil company SOKAR began the construction of the project ‘PORTONOVI’, which is worth €500 million.

The ground works on the largest construction in Europe begins today, while the deadline for completion of the tourist complex is may 2016. In the former military barracks, in one of the most beautiful parts of the Bay of Kotor will be the location that the tourist resort “One & Only” will be built. The plan envisages the construction of 550 residential villas, 150 commercial space and 1,200 parking places, markets, sports and spa complexes.

This is the largest investment in Montenegro’s tourism and the first of the few that have been announced this year. The montenegrin government expects large benefits from the construction of the tourist complex in Kumbor. In addition to taxes and direct investments that will come from Azerbaijan, the construction of a tourist complex will open new jobs.

For the construction of the complex about 6,000 workers will be hired from Montenegro, the surrounding regions and the world. For this project, the company Azmont in the north of Montenegro, in Bijelo Polje, opened the academy for the training of workers in which have enrolled 700 workers. As they have announced, the next 12 months will have finished their training 1,000 to 3,000 people in the carpenter, mason, plumbing and other construction specializations.

The project, funded by the Azerbaijan state oil company SOCAR, plans the construction of the most modern  marinas with a capacity of 250 berths, with a focus on mega-yachts, about 70 shops, cafes restaurants, yacht and a beach club and tennis academy. The content will be attractive throughout the year, and 65% of the complex’s capacity will be available to citizens.

The tourist complex in the Kumbor will be built by the company “Kerzer” from the Bahamas, which has signed a contract with Triangle Investment in England, which are the agents of the Azerbaijani oil company SOCAR.

The owners from Azerbaijan announced that after the opening of “PORTONOVI”,  in the complex there will be employed 1,200 workers.

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