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MIPIM 2018

Montenegro is fabulous! This amazingly small country offers a stunning array of sensations, colours, scenery and wonders of nature, cultures and talent.
by

Miodrag Spahic

on 23 March 2018

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Transcript of MIPIM 2018

MONTENEGRO
Ministry of Sustainable Development
and Tourism of Montenegro

Montenegro is fabulous! This amazingly small country offers a stunning array of sensations, colours, scenery and wonders of nature,
cultures and talent

Montenegro is situated in the heart of Europe, on the Mediterranean.
It is a small country with an area
of 13,820km²
and a population
of 620,029 residents
The greatest wealth of Montenegro are its 
people:
warmth, hospitality, coexistence
Montenegro is one of the safest countries in Europe
Montenegro is a country of healthy lifestyle and people, the land of talents in arts and sports
Tivat Airport
Ferry and hydroplanes
Podgorica Airport
Ferry and hydroplanes
Hydroplanes
Open market
Political stability
EU
candidate country
NATO
member
EURO
as currency, a Guarantee of Quality

VAT standard rate
21%
and VAT reduced rate
7%
Corporate profit tax
9%
Real estate transfer tax
3%
Annual real estate tax
0.1% - 1%
of the market value
Low taxes on inheritance
(for example from parents to children is
0%
)

Privatized banking system
Excellent telecommunication infrastructure
Investor-friendly public administration
Foreign investors are granted national treatment in Montenegro (same as for domestic investors)

Foreign investors may, independently or with a domestic investor, set up a company or unit of a foreign company, acquire stakes or shares in a company or buy a company

Foreign investors define their investment programs through Long-term lease agreements, Concession agreements, Franchise agreements, Real estate purchase agreements etc., in accordance with relevant legislation

Foreign investors may invest in any industry and transfer their financial and other assets, including profit and dividends, after all contractual obligations have been done
FDI INFLOW:

2000 - € 10 MILLION
2009 - € 1.2 BILLION
2013-2017 - € 3.6 BILLION
INVESTORS FROM
117 COUNTRIES
Major Investors
in Montenegro in 2017
by Countries
MONTENEGRO
IS A BIG CONSTRUCTION SITE
Sveti Stefan
€100 million
Investment:
Adriatic Properties, Greece
Even during the former Yugoslavia it was a symbol of tourism

Long Term tenant is the worldwide brand
Amanresorts



Featured on the cover of
National Geographic Traveler
“50 places of a lifetime”
Porto
Montenegro
€479 million
Investment:
Investment Corporation of Dubai (ICD), UAE
Mega-yacht marina 
(former military complex)
Year round destination with vibrant international community
Local and established fashion hospitality and design brands
Currently 455 berths for yachts, 850 planned at project completion
Regent Porto Montenegro hotel
and Regent Pool Club residences - luxury apartments
Luštica Bay
€1.1 billion
Investment:
Orascom, Egypt and Switzerland
The largest investment
Mixed-use new resort
State-of-the-art town with a wealth of leisure, spa, entertainment and community facilities with 8 hotels (5-star luxury hotel brand The Chedi), golf course Gary Player, 
two marinas, city center
Unique blend of local heritage and untouched nature, eco-friendly architecture and world class facilities
Chosen location for the country’s first 18-hole golf course
Portonovi
€650 million
Investment:
Azmont Investments, Azerbaijan
Former military complex in Herceg Novi, 90 years lease
Project to be completed by 2018/19
275 diversified luxurious residences (apartments, town houses, villas, penthouses)
World-class Marina (237 berths), medical center, yacht club, tennis academy, beach clubs, Espace Chenot Health Wellness Spa
First One&Only resort in Europe (140 rooms, villas and residences)

Mamula
€15 million
Investment:
Orascom, Egypt and Switzerland
Redevelopment of the Mamula Fortress by preserving the cultural heritage and promoting the historic character of the island and in doing so creating a flagship destination for the Kotor Bay as the First and Only Island/Spa/leisure Hotel in Montenegro
The project will preserve the natural and historical environment but will combine it with modern hotel facilities, food and beverage outlets, sports and entertainment that will cater to different clientele
Hilton Podgorica Montenegro
€47 million
Investment:
Normal Company, Montenegro
5 star hotel with 180 rooms and suites with a lounge bar, a presidential suite in addition to 
9 conference rooms, a restaurant, bar, wellness center, fitness and spa with an indoor swimming pool, VIP spa, underground garage
Current projects
International Press Clippings - 2017
Extracts
Montenegro’s coastline, i.e. the South is on a stable upward trend in economic growth.

The country is now opening the door to the vast opportunities in the North – the landscapes of staggering beauty with huge potential through all seasons of the year.     
Montenegro is European News of the Day
in the world of real estate investments.
Mixed-use resorts and branded hotel operators of top international reputation and standard are a guarantee of proper valorization
of the country splendors

INFRASTRUCTURE
€ 100 million
Planned investments in ski slopes and ski lifts during a 10 year period
Investments in infrastructure to connect the north and south of the country
Planned Bar – Boljari highway will connect north and south - benefits for citizens and for tourism
WE ARE LOOKING FOR INVESTORS

to modernize outdated facilities
to create and upgrade quality
to bring the best brands and standards
QUALITY BEFORE QUANTITY
Our policy has recognized the direct effects of the construction of hotels
Our policy has recognized the importance of the construction of golf courses
Montenegro is too small to put quantity before quality
SUSTAINABLE
DEVELOPMENT

Essentially the only viable option 
for Montenegro
Each m² should be planned, designed, 
constructed by respecting high standards 
of sustainability and the quality of context
NORTH
The incredible potential 
of the north is still undiscovered
National parks, mountains, pristine nature, rivers, lakes
Hard to tell whether more enchanting in the winter or in the summer
Savin kuk
Savin Kuk
International tender for the valuation of Savin Kuk will be announced soon

One possibility is valuation through public-private partnerships, and there is interest from a number of reputable investors


Bjelasica i Komovi
Bjelasica
and Komovi region
800 million €
to 1bn €
Value of investments in the mountain resorts:
The Spatial Plan for Special Purpose envisages 8 mountain resort
Kolašin 1600
Kolašin 1600
Accommodation capacities

(gross building area):

Hotels
26,021m²
Apartments
41,092 m²
Single-family accommodation units 7,873 m²
Kolašin lies in the upper and middle water courses of the rivers Tara and Morača.

Kolašin 1600 is located in the south part of the Bjelasica; surface amounts to 27.19 ha.
Access to the base settlement is organised from the direction of the existing ski resort Kolašin 1450 and from the direction of the road Lubnice-Berane.

The ski resort base settlement consists of the zone with facilities of the Central settlement with hotels, apartments, reception and public facilities, the zone of independent groups with single-family accommodation units and the area for the starting point of ski lifts.
The main ski lift of ski resort Kolašin 1600 is ski lift K8/D6C.

The other ski lifts represent a connection between the two complementary ski resorts Kolašin 1450 and Kolašin 1600.

65 - 75 million €
Investment value:
Potential:
special interests, winter mountain vacation, summer vacation in the mountains

Invest because of:
all year-round tourism destination, diversification of the tourism offer, affordable real-estate prices, incentives, inexpensive construction, large natural potentials

The basic uses of space are:
tourism, hospitality and commercial facilities, transport areas (service and pedestrian communications), developed green areas

Savin Kuk
Ski center, 21,254 m²
Existing facilities: restaurant, ski slopes, ski lifts, substations and other infrastructural facilities
81 million €
Investment planned
OTHER PROJECTS
Velika plaža
and Ada Bojana

1,800 hectares on the coast
15km-long sandy beach
The concept of a long-term lease (90 years)
Đalovica Cave
One of the longest and most beautiful in the region (17 km of the cave have been explored) with a large number of passages, galleries and unique cave formations

The Government of Montenegro plans to invest 12 million Euros in this project, and a feasibility study has shown that the project is profitable in every segment

The project is planned to be completed in four years

150,000 visitors are expected to visit the site during the 8 month cave season
Tenders and concepts

Port of Bar - High-quality connections with the hinterland, system of Free zone regime, access to markets of Balkans and Central Europe, flexible legislation and simplicity of business procedures

Airport Tivat - connected with 59 destinations in 22 different countries (59 airplane companies)

Airport Podgorica – connected with 45 destinations in 27 different countries ( 31 airplane companies)

International airports Dubrovnik (CRO) 40km and Tirana (AL) 137km

Continuous growth of General aviation (especially at Tivat Airport)
COUNTRY PROFILE
MONTENEGRO
NEWS OF THE DAY
MONTENEGRO
NORTH AND SOUTH
MONTENEGRO
The new luxury destination
…our potentials are being discovered by high-end international luxury brands
Cannes, France
2018

Plavi Horizonti
€250 million
Investment:
Qatari Diar, Qatar
Qatari Diar is overseeing a leisure development that will go on to grace the city’s horizon with astonishing luminescence.


The mixed-use resort will include a 200-room world-class luxury resort hotel, a spa, a beach club, more than 140 residential villas, apartments and townhouses, and traditional village-style retail and recreation areas.
Fiscal and other incentives
VAT of 0%
for all products and services delivered for construction
and equipping of
5 star hotels

Real estate tax is reduced 30-70%
for hospitality facilities of a
4+ category
operating during all year

Temporary residence permit for dispose of the right to real estate owned by a foreigner in Montenegro
may be issued to a foreigner who meets the requirements of Article 42 of this Law, where the real estate certificate or other evidence in accordance with the law governing the real estate cadastre is submitted as an evidence
Montrose Montenegro
€210 million
Investment:
Northstar (The Middle East)
53 hectare resort at the entrance to one of he most beautiful bays in the world;
The project will start in autumn of 2018
5 star branded hotel and residences
World-class conference facilities, a yacht club, marina, private beach and The Gardens of Montrose
19.5 million €
State investment in infrastructure including new ski lift and 4km of ski trails
Total inflow of FDI in Montenegro in 2017:
€ 687.100,00
Source: Central Bank of Montenegro

BAR-BOLJARE HIGHWAY (Phase 1)
INVESTMENT: €810 million
Will open up new investment opportunities in the north
164 km long, with an estimated cost of around 2 billion euro
With 50 tunnels and 95 bridges and viaducts - an engineering challenge
Building of the first section of highway (41 km) already started

justifying the request thus confirming the ownership of real estate.

The permit referred to this Article shall be issued for a period of one year.
Foreigners residing in Montenegro will be issued a single license for temporary stay and work, in the form of ID card with biometric data, which they will use for proof of legal residence, the right to work and as an identification document
Montenegro is a unique destination on beautiful and diverse territory

- Montenegro offers a number of incentives and programs in the tourism industry with the aim of attracting investments in hotels (10 year return of investment)
High-end Tourism Destination
Accessibility – additional incentives for introducing new destinations and air flights, reconstruction of the international Airport Tivat (construction of the water terminal)

Attractiveness – introduction of tourism zones in the North, stimulating tax policy (reduced rate of 7% for accommodation and reduced rate of 7% for all hotel F&B services in 4 star hotels in the North and 5 star hotels in the South and Central Region)

Transportation– defining the locations for hydro-plane landing and heliports
High-end Tourism Destination
THE LARGEST INVESTORS IN MONTENEGRO 2013 - 2017 (MIL. €)
Donja Arza
The location includes the land covering an area of 94,681 m² and the maritime area (sea surface) of 4,695.5 m²

The land is located near the Arza Fortress, originating from Austro-Hungarian times, on the peninsula of the same name, and in the vicinity of Žanjice Beach, on the way towards Blue Cave

Public – private partnership – long term lease

Tender soon to be announced

The Capital Plaza
€140 million
Investment:
Abu Dhabi Financial Group, UAE
The landmark of modern Podgorica
The best of office, residential (90 apartments), retail and recreational spaces
CentreVille Hotel & Experiences, french-style cafés and bakeries, international restaurants, fashion shops, spa centre, beauty salon, children’s playroom, 820 individual parking spaces
The first Hard Rock Cafe in the Region
International Press Clippings - 2017
Extracts
Kolašin 1600
A contract worth



8,979,740 for construction of the new six-seater chair lift and 4 kilometers of ski slops, as well as planning of the artificial snow making system has been signed with one of the leading companies in design and construction of ski lifts - Doppelmayr, Austria.

The new chair lift and ski slopes will be ready for the season 2018/2019
Kraljičina Plaža
€100 million
Investment:
Adriatic Properties, Greece
Luxury 5-star complex, with 60 hotel rooms and 66 apartments, indoor pools, spa, library, gym, bistro cafe

In addition to the hotel, Adriatic Properties, during the second phase of the project, will build a conference and shopping center, parking spaces (garage), heliport, 2 tennis courts and a beach bar
Foreign Investors in Montenegro
Njivice
5km away from the center of Igalo, land area of 30,597 m² and water area of 17,313 m²

Planned for marina, hotel, 5000 m² beach

Public – private partnership - long term lease

Tender soon to be announced

Highway €810,000,000
Thermal Power Plant + €500,000,000
Maoče Coal Mine
Submarine Power cable
Montenegro - Italy €305,000,000
Cableway Kotor-Cetinje €47,000,000
Made by: www.rlcmontenegro.com
International Press Clippings - 2017
Extracts
United Arab Emirates
Russian Federation
Italy
Azerbaijan
Germany
Switzerland
Serbia
Cyprus
Turkey
Spain
Austria
Netherlands
USA
United Kingdom
Croatia
Luxembourg
Belgium
Poland
Monaco
Other Countries

92.839,76
54.772,27
47.535,91
45.091,45
36.338,46
35.232,56
28.472,25
24.001,82
21.516,93
15.539,50
11.434,90
10.414,16
9.870,29
9.786,09
8.160,25
6.599,54
6.503,29
6.262,83
5.845,11
66.099,10
SKI RESORT “ŽARSKI“

The area of 1,550 ha and is characterized by high alpine plateaus and relatively mild mountain slopes. The base settlement zone at 1,650 masl west of ski terrains and its surface area is 178 ha.
The mountain centre base settlement consists of a parking zone, central settlement buildings zone with hotels, apartments, reception and public facilities, accommodation units and areas for ski lifts starting points.
Public – private partnership, long term lease
Tender soon to be announced
SKI RESORT “CMILJAČA“

The zone of the Cmiljača Mountain Resort is located in the north part of the Bjelasica Mountain and is within the borders (north east part) of the ski area of “Žarski Ski Resort” at 1,620 masl
The total development area - 7.5 ha and includes 4 hotels/condo hotels and 22 bungalows
Public – private partnership, long term lease
The value of total investments with all the accompanying facilities, is estimated at € 45-50 million

Tender soon to be announced
Full transcript