The Collection - EXPO 2020 Dubai Special Edition

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THE COLLECTION

MAGAZINE

EXPO 2020 DUBAI SPECIAL EDITION

www.thecollectionmags.com | Complimentary copy

T H E U LT I M AT E L U X U R Y T R E A S U R E C H E S T S H O W C A S I N G M O N T E N E G R O

DISCOVER MONTENEGRO'S FINEST | INVESTMENT | TOURISM | ART | NATURE & ADVENTURE

MONTENEGRO

Blessed by Nature

THE MONTENEGRIN PAVILION AT EXPO 2020 DUBAI | RENOWNED GUITARIST MILOŠ KARADAGLIĆ: FROM MONTENEGRO TO THE WORLD | VISIT MONTENEGRO: EXPERIENCE NATURAL BEAUT Y | CONTEMPORARY ART IN MONTENEGRO | MONTENEGRO: A PICTURE PERFECT FILMING LOCATION | OPEN FOR BUSINESS: INVESTMENT OPPORTUNITIES IN MONTENEGRO | RESILIENT RIVER PARK BREZA: BRINGING SUSTAINABLE ECOTOURISM TO KOLAŠIN | MALJEVIK BAY: YOUR NEXT 5-STAR ADRIATIC RESORT | SUCCESS STORIES: PORTO MONTENEGRO, LUŠTICA BAY AND PORTONOVI | INTERVIEWS WITH TWO MINISTERS, JAKOV MILATOVIĆ AND MILOJKO SPAJIĆ - INVEST IN ME



A nautical playground on the wild and beautiful coast of Montenegro


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REGENT PO OL CLUB

A WA R D W I N N I N G S PA

Where the mountains meet the sea

A year-round calendar of international events

Gourmet dining experiences

BOOK YOUR STAY


CONTENT THE COLLECTION

22 MONTENEGRO’S MOST UNFORGETTABLE EXPERIENCES

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40 MONTENEGRO: AN EMERGING FILM DESTINATION

THE MONTENEGRIN PAVILION AT EXPO 2020 DUBAI

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AN INTERVIEW WITH WORLD-RENOWNED GUITARIST MILOŠ KARADAGLIĆ

RESILIENT RIVER PARK “BREZA” KOLAŠIN MONTENEGRO

THE MONTENEGRIN ART SCENE

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www.thecollectionmags.com

EDITING AND PUBLISHING The Collection d.o.o. Podgorica Ulica Vukice Mitrović 16B Gorica Lux, 81000 Podgorica tel/fax: +382 20 655 717 sales@theluxurycollection.me

ART DIRECTOR Jadranka Simonović

PROOFREADER Matt Whiffen

TECHNICAL EDITOR Miodrag Spahić

In cooperation with The Ministry of Economic Development, Montenegro www.mek.gov.me

PHOTO Slaven Vilus, Ranko Maraš, Ismail Noor, Lars Borges, Esther Hase, Ilija Perić, Larry Horricks, Aleksandar Letić, Jose Haro Sanchez, Đorđe Živaljevic, Duško Miljanić, Stefan Vacić...

PRINTING BY Masar Printing and Publishing Ind 075-84 International Media Production Zone, Dubai - United Arab Emirates www.masarprint.com

EDITOR-IN-CHIEF Sandra Vlatković DESIGN, PREPRESS DesignBox.me

COVER PAGE The cover page of The Collection, features the ultimate treasure chest showcasing the natural beauties of Montenegro.

TEXTS Zorana Vojinović, Milena Pejović, Miodrag Spahić, Miloš Duletić, Lonely Planet

TRANSLATORS www.portaaperta.me

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COPIES 1.000 All material is copyright, and all rights are reserved, and no parts of this publication may be reproduced in whole or in part without the written permission of the publisher. The opinions expressed are those of the authors and cannot be related to the publisher. The publisher does not accept responsibility for advertising content.

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ECONOMIC DEVELOPMENT AND THE INVESTMENT CLIMATE MONTENEGRO A RELIABLE AND SAFE HARBOUR FOR INVESTMENT

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MALJEVIK BAY A GREEN MEDITERRANEAN CITY MONTENEGRO

INTERVIEWS WITH TWO MINISTERS JAKOV MILATOVIĆ (ECONOMIC DEVELOPMENT) AND MILOJKO SPAJIĆ (FINANCE AND WELFARE)

106 LUŠTICA BAY A PLACE TO BELONG

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PORTONOVI THE VERY BEST OF RIVIERA LIVING IN MONTENEGRO’S CELEBRATED BOKA BAY

PORTO MONTENEGRO A MONTENEGRIN MARVEL

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Recognizing the importance and role of Expo 2020 Dubai as one of the most prestigious exposition for the promotion and presentation of the potential of the country, Montenegro thus has the opportunity to present the reasons why it has been perceived as a country “blessed by nature”. As such, Montenegro seeks to show its natural beauty to an international audience, highlighting its potential as a destination where visitors can experience the unforgettable harmony between sea salt, mountain flowers and forests, eternal snow, the smell of mountain cottages and warm home-made bread made by friendly local people. Due to the efforts made by Montenegro in the direction of ecological living and the incorporation of sustainability into all segments of its environmental, social and economic activities, we are in a position to present our vision of cohabitation between nature and human needs in the Sustainability District of Expo 2020 Dubai. Visitors to the Pavilion of Montenegro will encounter images of our unique and breath-taking natural landscapes, thereby experiencing and getting a real feel for the possibilities there are to explore, whether in the mountains or on the coast. An interactive screen gives visitors the chance to make a journey across Montenegro, experiencing the very best of what we have to offer. The sandy

beaches and crystal-clear waters, embraced by ancient coastal towns, and the five National Parks of Montenegro are the true gatekeepers of our untouched natural wonder and showcase the country's incredible beauty. All the uniqueness and wealth of our biodiversity and the iconic natural elements of the country’s flora and fauna are presented at an interactive station dedicated to our natural treasures, which invites visitors to discover its contents, drawing them in to the natural beauty and harmony of Montenegro. With its favorable and stimulating investment environment, Montenegro has the opportunity to present itself to the global audience of Expo 2020 Dubai as an attractive and reliable investment destination, stressing key examples and stories of successful investment and highlighting potential areas for future investment cooperation. Visitors to the Pavilion of Montenegro will surely be enchanted by the uniqueness of the natural beauty of our country and we are confident that many will decide to further explore this hidden pearl of the Mediterranean.

The Team of the Pavilion of Montenegro

Komovi Mountain

INTRODUCTION

MONTENEGRO: “Blessed by Nature”

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BUDVA

your Mediterranean surprise

Discover Budva, a small pearl of the Mediterranean - enjoy the spectacular nature, authentic cuisine and wine, sandy beaches and excellent accommodation facilities! Budva is 2.500 years old town, which makes it one of the oldest settlements on the Adriatic coast, as well as the most visited tourist destination in Montenegro. It is well known for its sandy beaches (most of them have international environmental recognition mark – “Blue Flag”) beautiful examples of Mediterranean architecture and a diverse nightlife. With its stunning nature, excellent hotels, private accommodation, luxury restaurants and numerous international events, this coastal town attracts people from all over the world! Everybody in hospitality has easily adapted to satisfy the safety requirements and is strictly following the recommendations and instructions of the Institute of public health regarding the COVID-19 virus. Montenegro is recognized by the World Tourism and Travel Association (WTTC) as a safe desti-

nation and carries the international label for safe travel – “Safe Travels”. Spending time in Budva does not mean just enjoying the sun, sand and beautiful nature. Adrenaline-charged daytime activities ranging from water sports, hiking tours to open beach bars are available to you. The 25 kilometers long Budva`s Riviera has about 50 kilometers of pedestrian paths that go through beautiful healing, linking authentic coastal villages. You will be enticed by the scents of seafood and Mediterranean spices, rosemary, laurel, olive oil, local wine, as well as the charm of local people. The nights also bring many dilemmas with them: whether to play tennis on the outdoor courts, go to the intimate beaches for a late-night swim or join the cheerful and lively atmosphere around the Old town of Budva. Budva is also the town with the largest and highest quality accommodation facilities in Montenegro. More than 130 small and large hotels, half of them are high category hotels, with 4 or 5 stars, adapted their ca-

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pacities and accommodations to the needs of modern and demanding world tourism/ travel markets. There can be found the most luxurious hotels with congress rooms, spa and wellness facilities, tourist complexes with playgrounds for children, outdoor pools and green gardens, as well as small, boutique hotels that give a special charm to this coastal town. Private accommodation has become an excellent complement to hotel accommodation, about 3.000 rooms, apartments, houses and villas for rent lay on the sandy shore, in a quiet hinterland or in urban areas and are recognizable by its hospitality and the warm atmosphere. Budva is unique in everything it offers, let it be your Mediterranean surprise! www.budva.travel Facebook - Budva.travel Instagram - budva.travel Youtube - Budva Travel


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Montenegro Pavilion

Photo courtesy of © Ismail Noor / Seeing Things for Simmetrico Network

DISCOVER THE MOST BEAUTIFUL ENCOUNTER BETWEEN LAND AND SEA

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Photo courtesy of © Ismail Noor / Seeing Things for Simmetrico Network

BLESSED BY NATURE Live the sights and sounds of Montenegro's natural resources and tourist attractions. Discover the wide range of opportunities offered by this small country with a thriving vision for a sustainable future.

Photo courtesy of © Ismail Noor / Seeing Things for Simmetrico Network

FIND YOURSELF SURROUNDED BY A FAIRY-TALE-LIKE DIGITAL FOREST

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Photo courtesy of © Ismail Noor / Seeing Things for Simmetrico Network

BE SURPRISED BY THE LEISURE ACTIVITIES OFFERED ACROSS ALL FOUR SEASONS

Photo courtesy of Expo 2020 Dubai

ENJOY AN EXCLUSIVE PANORAMIC WINDOW INTO MONTENEGRO’S MOST IMPRESSIVE LANDSCAPES

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A DIGITAL FOREST PULSING WITH LIFE At the heart of the pavilion, a colourfully illuminated forest will transport visitors into an immersive dimension, playing and interacting with lights and sounds, and offering a glimpse of Montenegro in Dubai.

BEAUTIES OF MONTENEGRO

WHAT TO EXPECT

Like a belvedere overlooking Montenegro, an 8-metrelong projection discloses to visitors the sights and sounds of the country’s untouched and biodiverse landscapes, revealing its peculiar harmonious relationship with nature.

A COUNTRY TO BE LIVED IN ALL-YEAR ROUND Architect Timings Location

Matija Vuković 10:00 - 22:00 Sustainability District

Photo courtesy of © Ismail Noor / Seeing Things for Simmetrico Network

An interactive totem leads visitors in the discovery of leisure mountain and seaside activities that let you experience Montenegro as a place to be enjoyed always and in an environmentally responsible way.

MONTENEGRO PAVILION

THE DEEPEST CANYON IN EUROPE The sheer 1,300-metre depth of the Tara Canyon makes it the deepest in Europe.

QUICK FACTS

NON-STOP TOURISM Thanks to its snowy mountains and sun-drenched beaches, Montenegro welcomes you in every season.

LARGEST WIND POWER PLANT IN THE REGION With Masdar’s support, Montenegro built a vast wind farm to boost its production of clean energy.

EXPO 1905 LIEGE Montenegro's first Expo participation was at Exposition Universelle et Internationale de Liège 1905.

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Minister Milatović visits the Montenegrin pavilion in Expo 2020 Dubai, Photo courtesy of © Ismail Noor / Seeing Things for Simmetrico Network


If you want to feel authentic Montenegro in luxurious and in quite an unusual, tailor-made way, with white-glove service, feel stress-free by choosing the multi-lingual and experienced team of the Montenegro Concierge DMC company. We deliver unique programs that match your needs, from intimate extravaganza dinners in hidden medieval venues to big family anniversary gatherings in contemporary luxury locations, from sustainable events in secret retreats in the National parks to product launches on monumental vistas. For shopaholic travelers, we offer various purchases, from hand-made and organic purchases to A-list shopping tours. If you are the traveler that wants to feel the country through its cuisine, then you're at the right place; choose among many domestic dishes in eco villages to fine dining dinners in one of the best restaurants - we are all about Montenegro. Montenegro is a perfect billionaire playground and that was our inspiration and base when we created our offer of concierge services, regardless of personal or business assistance you need. From the moment you touch the Montenegrin ground, we will be at your service to feel the true Montenegro unforgettably.

OUR SERVICES: • Mice services • Concierge services • Ecotourism • Weddings • Incentive trips for corporate clients • Real estate Address: Trg Magnolije, Tivat 85320, Montenegro Phone: +382 69 723 234 Email: info@montenegroconcierge.com


MONTENEGRO CONCIERGE DMC


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Prokletije Mountain

MONTENEGRO’S Most Unforgettable Experiences

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Lovćen Mountain

Most memorable of all is the whiteknuckle drive along the old serpentine road linking Kotor to Lovćen National Park. As you loop up and up through 25 hairpin turns, the view continually expands until it eventually takes in the entire Bay of Kotor and the Adriatic beyond.

While it may be the beach that lures you to Montenegro, look up from your towel and you will discover a land full of culture, history and natural wonders, not to mention delicious food. These are the things Montenegrin memories are made of.

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SCENIC DRIVES

here is no more spectacular introduction to Montenegro than the drive around the breathtakingly beautiful Bay of Kotor. Its fjord-like proportions get more dramatic the further you journey into the inner parts of the bay on a road wedged between brooding mountains and inky waters. Mountains remain a constant backdrop along the busy Adriatic Coast highway, as well, although your eyes will be constantly drawn to the sparkling waters below. Most memorable of all is the white-knuckle drive along the old serpentine road linking Kotor to Lovćen National Park. As you loop up and up through 25 hairpin turns, the view continually expands until it eventually takes in the entire Bay of Kotor and the Adriatic beyond. Quite frankly, there is barely a route in Montenegro that isn’t gorgeous. Even the main highway heading north from Podgorica to Serbia is a scenic tour-de-force, traversing the exquisite Morača Canyon. Likewise, the road heading north from Nikšić along the Piva Canyon is remarkable, clinging to cliffs as it passes between 56 small tunnels blasted through the mountainside.

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CITIES

Montenegro has only two cities of significant size – the capital Podgorica (population 151,000) and student-filled Nikšić (57,000). Both have a low-key charm and some buzzy bars, but don’t come expecting big-city thrills. Far more interesting are the palaces and museums of the old royal capital, Cetinje (14,000), and the ancient walled towns of the coast. One of these, Herceg Novi, is Montenegro’s third biggest settlement, with a population of nearly 20,000. It’s a sun-soaked holiday town which spreads along the slopes between the coastal highway and a gorgeous pedestrian promenade that winds along the shoreline. Kotor is No. 9 when it comes to population (12,600) but tops the list of historic streetscapes and the magnificence of its setting. Wedged between the mountains and the bay, its ancient core is encircled by mighty stone walls which extend in a broad loop across the mountainside to a height of 853 feet. Within its fortifications is a warren of marbled lanes liberally peppered with churches.

MEDIEVAL VILLAGES

Little lost-in-time villages are a hallmark of the Montenegro hinterland. There are some particularly charming ones to explore in the countryside around Lake Skadar, where families still make wine as they have done for centuries. Pretty little Rijeka Crnojevića, on the banks of the river of the same name, has a cluster of historic structures including the modest house of Petar I Petrović (aka St Peter of Cetinje) and a stone bridge commissioned by Prince Danilo. Also worth a visit is the nearby village of THE COLLECTION


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IMMERSING YOURSELF IN NATURE

Between the mountains, lakes and rivers of the hinterland, there are plenty of memorable places to stay and be surrounded by nature. One of our favorites is a lovely family-run campsite near Dobrilovina, above the banks of the Tara River, where you can pitch a tent, pull up a motorhome or rent a sweet little wooden cabin. Glamping is a relatively new concept in Montenegro, but a couple of sites have sprung up in recent years offering pre-pitched tents with comfortable beds. Also worth considering are the etno or eko villages, small complexes of wooden huts reminiscent of traditional katuns (shepherds’ dwellings), that are scattered around the mountainous regions at the north of the country. Montenegro offers plenty of opportunities to es-

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Tara River

CUISINE

Perhaps the village most synonymous with Montenegro’s heartland is Njeguši, the ancestral home of its former Petrović rulers. It is famed for its cheese and honey, but especially its pršut (prosciutto), which is prized throughout former Yugoslavia. If you see a dish with the adjective Njeguški on a menu (whether it be schnitzel, steak or pork chops) expect it to be stuffed with top-quality prosciutto and cheese, and calculated to tug at Montenegrin heartstrings. On the coast the cuisine is indistinguishable from that of neighboring Dalmatia: lots of delicious fresh seafood liberally doused in olive oil, lemon, flatleaf parsley and garlic. The Venetian influence lingers in the form of excellent pasta, risotto and gnocchi. Around Lake Skadar, squid and octopus is swapped for freshwater fish such as eel, carp and bleak. Head into the mountains and you will encounter stomach-expanding comfort food designed to get you through the long winter nights. A particular treat is meat slow-cooked ispod sača, roasted on a hearth under a dome-shaped metal lid covered with charcoal.

ARCHAEOLOGICAL SITES

Waves of empire have crashed over this land since time immemorial. The Romans took over from the native Illyrians in the 2nd century BC, and the legacy of their long rule can still be seen today – most notably in the form of a wonderfully well-preserved set of floor mosaics uncovered in Risan on the Bay of Kotor. There are further mosaics in an unassuming site at the beach resort of Petrovac na Moru. Montenegro’s buzziest beach town, Budva, was once a Greek colony and is one of the oldest cities on the Adriatic. Budva Museum houses many archaeological treasures from the Classical period, some of which were unearthed from the Roman-era necropolis which can still be seen just outside the old town walls.

Between the mountains, lakes and rivers of the hinterland, there are plenty of memorable places to stay and be surrounded by nature. One of our favorites is a lovely family-run campsite near Dobrilovina, above the banks of the Tara River, where you can pitch a tent, pull up a motorhome or rent a sweet little wooden cabin.

Boka Bay

Dodoši, where you can swim from a floating bar or leap off a bridge into the river. Is a village really a village when its composed almost entirely of grand Venetian palaces and churches? With a population of less than 300 people Perast can hardly be called a town. Located seven miles along the bay from Kotor, Perast hums with tourists in summer who flock here to dine at its excellent water’s-edge restaurants and to visit the fascinating church on Our-Lady-of-the-Rock Island.


Durmitor National Park Sveti Stefan, Budva

Split between Montenegro and Albania, Skadar is the largest lake in the Balkans and one of the most important habitats for wetland birds in all of Europe. The entire Montenegrin side of the lake has been protected as a national park since 1983. Birdwatchers from around the world come here to spy the 280 species that shelter in its surrounds, including the endangered Dalmatian pelican and a globally significant population of pygmy cormorants.

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Skadar Lake National Park

In winter Durmitor is a major ski destination, offering the country’s most reliable snow cover and two ski centers: Javorovača for beginners and Savin Kuk for more advanced skiers. In summer, the focus shifts to hiking and mountaineering.

Montenegro’s buzziest beach town, Budva, was once a Greek colony and is one of the oldest cities on the Adriatic. Budva Museum houses many archaeological treasures from the Classical period, some of which were unearthed from the Roman-era necropolis which can still be seen just outside the old town walls.

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Rafting on Tara River

One of Montenegro’s prime natural wonders is the Tara Canyon, a deep cleft carved by the Tara River through the mountains of Durmitor National Park in the far north of the country.

cape into nature, with well-marked hiking and biking tracks all over the country. However, if we were to single out just one unforgettable nature-based activity in this action-packed country it would be to take a rafting trip through the magnificent Tara Canyon in Durmitor National Park. The scenery is truly astounding.

MONTENEGRO’S BEST OUTDOOR ADVENTURES The best way to explore the remarkable little country of Montenegro is to get out and about in nature. Here are the best options for doing exactly that.

RAFTING

One of Montenegro’s prime natural wonders is the Tara Canyon, a deep cleft carved by the Tara River through the mountains of Durmitor National Park in the far north of the country. At its most powerful, the river passes between forest-clad walls of rock that are more than 4,250 feet high. It is exceedingly difficult to get a good view of the scale of the canyon from above, making rafting the best option to experience it in all its grandeur. The rafting season runs from around April to October, with the fastest flows coinciding with the

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spring melts in April. A 51-mile section of river is navigable, and a classic two-day trip starts near the Tara Bridge and will take you through the deepest parts of the canyon. Most day trips only traverse the last 11 miles of canyon, which is still a beautiful stretch including most of the modest rapids.

CLIMBING & CANYONEERING

The Durmitor mountain range also offers a vast array of more daring pursuits. At Pirlitor, two rock faces have been prepared for climbing, but you will need your own ropes – or to enlist the services of a specialist adventure agency. Just south of the national park is one the country’s prime canyoneering sites, the extraordinary Nevidio Canyon enclosing a 1.7-mile-long section of the Komarnica River. Nevidio translates to ‘invisible’ which is a reference to its narrowness; at some points it is mere yards wide. Canyoneering (or canyoning as its known outside of the USA) involves sliding along gorges, scrambling over rocks, abseiling down waterfalls and swimming through river basins. It is great fun but inherently dangerous, especially in a narrow gorge such as Nevidio, so it should only be attempted in the driest months (July and August) and only under the direction of experienced guides. Other canyoneering options include the Sopot Canyon (near Herceg Novi), the Škurda canyon (above Kotor), the Rikavac and Medjurečje canyons (both near B ar), and the Grlja Canyon (in Prokletije National Park).

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Mrtvica Canyon - A Unique Hiking Adventure

PARAGLIDING

With so many accessible mountains with sheer drops, there are plenty of opportunities for daredevils to fly like the double-headed eagle on the Montenegrin flag and soak up spectacular scenery. One particularly excellent launch site is in the mountains high above the Budva Riviera, where you can glide down to a landing on the beach. Or how about an eagle’s eye view over the Bay of Kotor on a descent from Dizdarica on Mt Orjen? Many swear flights from the peaks of Durmitor National Park are the best of the lot.

DIVING

There is an awful lot of history on show in this compact nation and not all of it is above ground. A millennia’s-worth of shipwrecks – from Greek and Roman times to World War II – provide a backdrop to interesting underwater flora and fauna in waters that average around 49 feet of visibility but can stretch to 82 feet. The best time to dive in is from May to September, when the surface water is at its warmest – although you will still need a neoprene wetsuit. All along the coast there are drop offs, underwater caves, springs and reefs. You might spot the odd sea turtle and lobster, along with schools of dentex and gilthead bream. Keep an eye out for conger eels, scorpionfish, octopuses, sea snails, red coral, colorful sponges, red gorgonian fans and the rare giant mussel. Off Ulcinj, as well as the wrecks created over the centuries by the town’s notorious pirates, there are the remains of a submerged town to explore.

BUSHCRAFT

While Montenegro might not have bush of the classic kind found in Australia, New Zealand or Africa, it does have plenty of real wilderness to explore. In recent years Montenegrin versions of Bear Grylls have started leading guided expeditions into remote areas, imparting basic survivalist skills along the way. Expect to learn how to start a fire without matches, how to forage for edible plants, how to build a shelter, how to purify water and how to navigate using just natural cues. Think of it as Scouting for adults with a yearning for adventure.

CAMPING

Quite apart from the wild camping offered by the bushcraft enthusiasts, there are commercial campsites scattered all over Montenegro. Some of them are quite basic (squat toilets are not uncommon) but spectacular locations are pretty much a given, no matter where in the country you happen to be.

Quite apart from the wild camping offered by the bushcraft enthusiasts, there are commercial campsites scattered all over Montenegro. Some of them are quite basic (squat toilets are not uncommon) but spectacular locations are pretty much a given, no matter where in the country you happen to be. There are even a few glamping sites, where pre-pitched tents are rented – complete with proper made-up beds. Campgrounds cater to all proclivities, including an excellent clothing-optional site in a remote spot near the Croatian border and a complex on the Bay of Kotor where guests can keep their beer cool in a chilly spring-feed stream. Also worth considering are the eko and etno villages of the mountainous areas, where accommodation is provided in rustic wooden cabins reminiscent of traditional shepherd dwellings.

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Boka Bay

Sveti Stefan, Budva

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Drobni pijesak Beach, Budva

Pržno, Budva

Wedged between the mountains and the bay, its ancient core is encircled by mighty stone walls which extend in a broad loop across the mountainside to a height of 853 feet. Within its fortifications is a warren of marbled lanes liberally peppered with churches.

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Komovi Mountain

In summer it is possible to take multi-day hikes staying overnight in katuns, the traditional wooden huts used by the region’s semi-nomadic shepherds.

ADVENTURE YOUR WAY THROUGH MONTENEGRO’S NATIONAL PARKS There is much more to Montenegro than its gorgeous Adriatic coastline. Head inland and immerse yourself in this fascinating little country’s wild side, showcased in its five vastly different national parks.

LOVĆEN NATIONAL PARK

If you visit just one Montenegrin national park, this should be the one. Looming above the Bay of Kotor, Lovćen is the black mountain that gave Montenegro its name. For centuries, this karstic massif was the very crucible of Montenegrin culture – a rocky redoubt of resistance to the Ottomans, populated by fearsome warriors, clerics and poets – and it remains the nation’s heartland to this day. The old royal capital, Cetinje, is nestled on its slopes and is the perfect base for exploring – although the park also can be easily accessed from the coastal hotspots of Kotor and Budva. Allow time to peruse Cetinje’s palaces and museums before heading into the park proper. There’s a visitor center in the hamlet of Ivanova Korita where you can gather information on Lovćen’s numerous hiking and mountain-biking tracks. Continue to

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the park’s most famous feature, the striking Njegoš Mausoleum, sitting at the top of its second-highest peak (5,436 feet). Gargantuan statues by acclaimed Yugoslav-era sculptor Ivan Mestrović compete for attention with the extraordinary views, as the craggy landscape dissolves into the distance. As you loop back, be sure to stop for a snack at the village Njeguši. As well as being the ancestral home of Montenegro’s Petrović dynasty, it is famed throughout the region for its prosciutto, cheese and honey.

LAKE SKADAR NATIONAL PARK

Split between Montenegro and Albania, Skadar is the largest lake in the Balkans and one of the most important habitats for wetland birds in all of Europe. The entire Montenegrin side of the lake has been protected as a national park since 1983. Birdwatchers from around the world come here to spy the 280 species that shelter in its surrounds, including the endangered Dalmatian pelican and a globally significant population of pygmy cormorants. Boats and kayaks can be rented from the lake’s main settlement, Virpazar, and from the National Park Visitor Centre across the causeway near Vranjina. Birdwatching expeditions can be combined with visits to a cluster of tiny islands which are home to medieval monasteries and the Ottoman-built prison fortress, Grmožur, once known as the Montenegrin Alcatraz. Or you can paddle up the sinuous Crnojević River to the pretty historical village Rijeka Crnojevića and dine at Stari Most, one of the country’s best fish restaurants. Alternatively, hire a bike to explore the tiny winemaking villages and ruined THE COLLECTION


Durmitor National Park Skadar Lake National Park

The jewel in the crown of Montenegro’s national parks is mountainous Durmitor in the country’s untamed north. It is a highly dramatic landscape with around 50 peaks higher than 6,562 feet, dotted with 18 glacial lakes (known as gorske oči, or mountain eyes). It also embraces the Tara Canyon, a cleft in the limestone cut by the Tara River over many millennia, its forested walls reaching 4,265 feet at their apex.

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Durmitor National Park

There are 93 miles of marked trails heading through the mountains, ranging from an easy two-mile stroll around the picturesque Black Lake, to major alpine expeditions where a local guide is recommended.

fortresses hidden within the lush hinterland. The best beach is remote Murići, on the lake’s southwestern shore. It’s also fun to take a plunge in the river from the terrace of the floating restaurant at the village of Dodoši, or join the local larrikins diving off the bridge.

DURMITOR NATIONAL PARK

The jewel in the crown of Montenegro’s national parks is mountainous Durmitor in the country’s untamed north. It is a highly dramatic landscape with around 50 peaks higher than 6,562 feet, dotted with 18 glacial lakes (known as gorske oči, or mountain eyes). It also embraces the Tara Canyon, a cleft in the limestone cut by the Tara River over many millennia, its forested walls reaching 4,265 feet at their apex. Rafting is by far the best way to see the canyon, and numerous operators offer trips along the last 18km, where you will find most of the rapids – although you will have to book the classic two-day journey to visit the deepest part of the canyon. In winter Durmitor is a major ski destination, offering the country’s most reliable snow cover and two ski centers: Javorovača for beginners and Savin Kuk for more advanced skiers. In summer, the focus shifts to hiking and mountaineering. There are 93 miles of marked trails heading through the mountains, ranging from an easy two-mile stroll around the picturesque Black Lake, to major alpine expeditions where a local guide is recommended.

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BIOGRADSKA GORA NATIONAL PARK

Located within the Bjelasica mountain range, Biogradska Gora National Park protects an exceptionally lovely six square miles of virgin forest. From the park entrance you can take a 2.2-mile trip on a tourist train to the vividly green waters of tree-lined Lake Biograd. Here you will find the main park infrastructure, including a campsite, cabins, rowboat and kayak rental, and a restaurant serving traditional Montenegrin mountain fare. Take the easy 2.1-mile amble around the lake, and then inquire at the visitor center about the more challenging hiking and mountain-biking tracks through the surrounding mountains. In summer it is possible to take multi-day hikes staying overnight in katuns, the traditional wooden huts used by the region’s semi-nomadic shepherds. There are also glacial lakes to explore and several peaks above 6,500 feet, culminating in 7,018-foot Crna Glava (Black Head).

PROKLETIJE NATIONAL PARK

For true wilderness you cannot beat Montenegro’s newest national park, dedicated in 2009 to protect a 62-square-mile expanse of the Prokletije Mountains bordering Albania and Kosovo. This southernmost and highest section of the Dinaric Alps is surely one of Europe’s least-explored corners. Prokletije translates to ‘accursed,’ which says all you need to know about the treacherous and unforgiving nature of the terrain. If you want to push your limits in extraordinarily beautiful, off-the-beaten-track wilderness, this is the place to come. THE COLLECTION


Biogradska Gora National Park

Tara River

Yet visits to Prokletije need not be major expeditions. Start at the gateway town of Gusinje with a visit to its 17th-century Vizier’s Mosque and then take a half-hour walk to the beautiful Ali Pasha Springs, which bubble up from the karst at the foot of the mountains. On the way stop at the park visitor center, where you can gather information about

more advanced hiking and climbing routes to suit your experience and abilities. It can also be a place to connect with local guides. © Lonely Planet Photos courtesy of Slaven Vilus www.montenegro.travel

Yet visits to Prokletije need not be major expeditions. Start at the gateway town of Gusinje with a visit to its 17th-century Vizier’s Mosque and then take a half-hour walk to the beautiful Ali Pasha Springs, which bubble up from the karst at the foot of the mountains.

Ursulovačko Lake, Bjelasica Mountain EXPO 2020 DUBAI SPECIAL EDITION

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Located seven miles along the bay from Kotor, Perast hums with tourists in summer who flock here to dine at its excellent water’sedge restaurants and to visit the fascinating church on Our-Lady-of-the-Rock Island.

Boka Bay

Bjelasica Mountain

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All along the coast there are drop offs, underwater caves, springs and reefs. You might spot the odd sea turtle and lobster, along with schools of dentex and gilthead bream. Keep an eye out for conger eels, scorpionfish, octopuses, sea snails, red coral, colorful sponges, red gorgonian fans and the rare giant mussel.

Boka Bay

Durmitor National Park

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A SECRET HIDEAWAY IN MONTENEGRO W W W. V I L L A G E B A . C O M

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Pierce Brosnan on the set of The Novemeber Man (ph. Aleksandar Letić, courtesy of Work in Progress)

MONTENEGRO: An Emerging Film Destination

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Johnny Depp on the set of Minamata (ph. Larry Horricks, courtesy of Work in Progress)

What makes it a truly unique film destination are its easily accessible and diverse heritage sites that can stand in for just about any region or historic period. Plus, it’s all neatly packed into 14,000 km², or a 3-hour drive across the whole country, from its Nordic mountaintops in the north to the tropical beaches of the south.

You’d be hard pressed to find a smaller territory in Europe that can double for as many film locations as Montenegro can. What makes it a truly unique film destination are its easily accessible and diverse heritage sites that can stand in for just about any region or historic period. Plus, it’s all neatly packed into 14,000 km², or a 3-hour drive across the whole country, from its Nordic mountaintops in the north to the tropical beaches of the south. Learn more about this big open-air studio in the heart of the Mediterranean, with its ready-made film sets and 200 sunny days per year.

T

o visit Montenegro is to travel back in time. The material remains of the Roman, Medieval, Oriental, Venetian, Austro-Hungarian, and Socialist eras are scattered everywhere across this charming Mediterranean nation, which is why it is so easy for Montenegro to double for almost any other location, at any point in time: the Swiss lakes, the Alpine mountains, the Scandinavian fjords, the pine forests of North America, charming Mediterranean towns, or the Atlantic shores. Ancient remains stand side by side with well-preserved medieval towns and modernist building blocks, creating a unique mix of authentic locations that are ready-made for filming. All this explains why Montenegro has always been interesting to international film productions, ever since the early days of cinema. Throughout the 20th century, Montenegro attracted many international filmmakers who shot their films in its beautiful loca-

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tions, but also helped promote its own artistic and production qualities. Among the most famous international films to be shot in Montenegro were the Viking adventure “The Long Ships” (dir. Jack Cardiff, 1963) with Richard Widmark and Sidney Poitier, and the WWII epic “Force 10 from Navarone” (dir. Guy Hamilton, 1978) with Robert Shaw, Harrison Ford and Franco Nero, that was shot on the imposing Đurđevića Tara Bridge. Since regaining its independence in 2006, with its ever-growing number of production companies and services, and with the Law on Cinematography (2015) and the establishment of the Film Centre of Montenegro (2017), constant efforts have been made to promote Montenegro as a film-friendly destination. Over the last decade, several major international productions have filmed in Montenegro, but the one that really made the most of the diversity of the location was Michael Noer’s “Papillon” (2017), starring Charlie Hunnam and Rami Malek, which was shot on multiple locations across Montenegro. Most strikingly, the production shot the film’s dramatic finale at Mamula, a fortified island at the entrance to Boka Bay, which was turned into the notorious French penal colony in South America - Devil’s Island. The production also shot scenes at Lake Skadar, turning it into a beach in South America, around the city of Niksic, where the big jungle prison set was built, in the fortified medieval town of Kotor where the beginning of the film takes place, and many other locations across the country. Some other examples of the clever use of Montenegrin locations include Rian Johnson’s “The Brothers Bloom” (2011) with Adrien Brody and Mark Ruffalo,

THE COLLECTION


Since regaining its independence in 2006, with the ever-growing number of production companies and services, and with the Law on Cinematography (2015) and the establishment of the Film Centre of Montenegro (2017), constant efforts have been made to promote Montenegro as a film-friendly destination.

Pierce Brosnan on the set of The Novemeber Man (ph. Aleksandar Letić, courtesy of Work in Progress)

On the set of The Novemeber Man (ph. Aleksandar Letić, courtesy of Work in Progress)

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Charlie Hunnam on the set of Papillon (ph. Jose Haro Sanchez, courtesy of Work in Progress)

Over the last decade, several major international productions have filmed in Montenegro, but the one that really made the most of the diversity of the location was Michael Noer’s “Papillon” (2017), starring Charlie Hunnam and Rami Malek, which was shot on multiple locations across Montenegro.

who shot the film’s finale at Velika Plaža in Ulcinj, which doubled for Mexico; Roger Donaldson used the backdrop of the striking Boka Bay as Lake Geneva in “The November Man” (2014) which starred Pierce Brosnan; and most recently Andrew Levitas shot some of the Japanese scenes with Johnny Depp for “Minamata” (2020) around Tivat. When it comes to TV production, the Montenegrin coast has proven very popular in terms of location scouting, with filmmakers constantly managing to find new and exciting locations on a what is a relatively short stretch of coastline - only 294 km in total. More importantly, recent regional hit TV shows such as “Biser Bojane” (The Diamond of Bojana), “Dug moru” (The Debt to the Sea) and “Besa” have all made good use of the filming incentives in the form of a 25% cash rebate, offered by the Film Centre of Montenegro on qualified expenditure for feature films, documentaries, and TV series. The rebate programme was launched in 2018, in the hope of attracting more regional and international film productions to Montenegro. It is a part of the wider initiative to create a truly film-friendly environment in Montenegro, the importance of which was recognized by the Montenegrin Government as one the key strategic goals in the overall promotion of Montenegro’s investment potential, leading the Film Centre of Montenegro to launch the campaign “Film in Montenegro”. Under this brand, Montenegro has presented its filming potential at the most prestigious film festivals and across film markets around the globe: in Cannes, Berlin, London, Los Angeles, and many other locations.

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In terms of the country’s overall image, Montenegro has, over the last decade, completely re-invented itself. As an EU candidate country for whom membership is just around the corner, Montenegro uses the Euro as its official currency and is part of the ATA Carnet system, which streamlines the import of equipment. With a range of significant investment in both infrastructure and the tourist sector (including the resorts of Lustica Bay, Porto Montenegro, and Portonovi, to name a few), Montenegro is fast becoming the go-to destination for international visitors who want to experience something different: a unique combination of luxury and authenticity that is hard to find elsewhere in Europe. Like elsewhere in the world, last year was difficult for the film sector in Montenegro, with several important international productions cancelled or postponed due to lockdowns and the pandemic. Fortunately, the sector was kept alive thanks to a steady stream of domestic and regional film and TV productions that had an easier time organising their shoots in Montenegro. However, several new international projects are already in the pipeline for 2022. If everything goes according to plan, it should put Montenegro back squarely on the global filming destination map. Stay tuned for more.

THE COLLECTION


Durmitor Mountain range (ph. Djordje Zivaljevic)

Kotor Old Town (ph. Dusko Miljanic)

The Film Centre of Montenegro was established in 2017 with the aim of providing a stimulating and nurturing environment for film professionals in Montenegro. The Centre manages the film fund, oversees film production grants, promotes Montenegrin films abroad at festivals and film markets, collects and analyses statistical data on film, supports film festivals and film culture. Since 2018, the Centre also manages the incentives program in the form of a 25% cash rebate. More information on the Film Centre of Montenegro can be found at: www.fccg.me

Great Beach in Ulcinj (ph. Dusko Miljanic) EXPO 2020 DUBAI SPECIAL EDITION

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On the set of DUG MORU 2 (courtesy of MonteRoyal Pictures, ph.Stefan Vacić)

On the set of BISER BOJANE

Local production houses can service all types of productions, relying on cooperation with neighbouring countries when needed.. On top of that, Montenegrin production houses offer very competitive rates, not just on the European, but on the regional scale as well. For a comprehensive industry directory of Montenegro’s production capacities, an overview of the most striking filming locations, and other useful information, please visit: www.filminmontengro.me

On the set of BESA 1 (courtesy of Adrenalin Production, ph. Aleksandar Letić)

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Always more to uncover.

www.filminmontenegro.me EXPO 2020 DUBAI SPECIAL EDITION

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Pizana Gallery, Portonovi

The Montenegrin Art Scene

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Biljana Keković - Untitled 2013, oil on canvas, 150x85cm

Biljana Keković - Moving Tought 150x230cm

The development of art through individual poetic sensibilities, outside of all canonical dogmas and limitations, and the idea that artists were granted the status of homo libertatis may be traced in Montenegro as far back as the end of the 19th century, which was the time when the struggle for the survival of Montenegro as an independent state turned into a series of "struggles" for cultural emancipation. Montenegro opened itself to Europe and to its attainments in the field of visual creativity – in the arts, science and technical innovation. At the end of the 19th century, talented young Montenegrins were educated at higher education institutions in major European cultural centres, and this practice continued until the end of the 1980s, when the Faculty of Fine Arts was established in Cetinje [1988). We may say that Montenegro saw an eruption of awakened visual creativity, the roots of which may be traced back to the Artistic School founded in 1947 in Cetinje, which gave rise to an eminent group of the first Montenegrin artists educated in their own country, many of whom earned significant international reputation. These included such figures as Miodrag Dado Djuric, Uroš Toškovic, Branko Filo Filipović and many others.

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THE PIZANA GALLERY

“The Pizana Gallery, one of the most prominent Montenegrin galleries engaged in the valuation and presentation of Montenegrin art which, as an open modern space, shows all the hallmarks of a modern international gallery operates as a cultural ambassador for the country, and undertakes the important mission of promoting the Montenegrin contemporary art scene at various prestigious events — including exhibitions, biennales and fairs organised both in the region and across Europe. With the exhibition which is dedicated to the Faculty of Fine Arts in Cetinje, the Pizana Gallery has demonstrated the best and most professional way to deal with an institution that has left an indelible imprint and marked the Montenegrin visual arts scene over the past twenty-five years”, said Ljiljana Zeković, an Art Historian. The Pizana Gallery has become a cult location within the Montenegrin cultural scene. Ever since October 1989, when Ms. Ljiljana Milošević founded Pizana as the first private gallery in Montenegro, boldly believing that the artistic environment needed such a space, and guided exclusively by personal enthusiasm and her affinity for fine arts, it has been a unique and authentic space where numerous artists, writers, actors and musicians have gathered gladly and frequently; it represents a key location for anyone who has a serious interest in the Montenegrin art scene. It remains at the same address it has always had, in Hercegovačka Street, Podgorica, and this gallery has become a highly significant and well-respected cultural institution, ever evolving through positive change, driven by the vast energy of THE COLLECTION


Draško Dragaš, The House at the Edge of the World, 180cm x 210cm

Momčilo Macanović, On the Deck, 80x120cm

Momčilo Macanović, Street, 70x110cm

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Pizana Gallery, Portonovi

The Pizana Gallery, one of the most prominent Montenegrin galleries engaged in the valuation and presentation of Montenegrin art which, as an open modern space, shows all the hallmarks of a modern international gallery operates as a cultural ambassador for the country.

its founders, merging a constant infusion of innovative ideas and new inspirations into its ever-evolving existence. Over the past thirty years, this space has hosted numerous exhibitions showcasing renowned Montenegrin artists, as well as aspiring ones, many of whom began their artistic journeys in this very gallery. This is how the Pizana Gallery’s permanent exhibition was first created; a collection which currently features works by some of the most distinguished artists from this region, encompassing different generations and forms of artistic expressions, such as Vojo Stanić, Milo Milunović, Stevan Luketić, Filip Janković, Cvetko Lainović, Olja Ivanjicki, Dimitrije Popović , Nikola Vujošević, Nikola Gvozdenović and others, as well as younger artists, such as Biljana Keković, Roman Đuranović, Svetlana Dragojević, Momčilo Macanović, Tadija Janičić and many more. Its global renown and the exceptional standards of the gallery, as well as the inspiring, visionary work of its founders, were the driving force behind the Pizana Gallery becoming a part of the exclusive Porto Montenegro Marina tourist complex in Tivat, where it has been offering a carefully designed range of exhibition in a modern, representative space since 2011. Since August 2019, the cultural map of Montenegro has featured the name of the Pizana Gallery at another address – the Portonovi resort in Kumbor, which has become home to a gallery space that primarily draws its artistic inspiration from the contemporary Montenegrin art scene.

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Since May 2021, in partnership with the newly opened One&Only Resort in Kumbor, the gallery has taken part of the "Artist in Residence" project, which, in the words of the General Manager Michele Giraudo, "celebrates art and humanity." This project, in addition to promoting the contemporary Montenegrin fine arts scene to an international audience, also has a pronounced humanitarian profile. At the end of each artist's visit, the hotel organises a fundraising dinner, at which one of the works is sold at a silent auction and the proceeds are donated to the Children's Home "Mladost" in Bijela. “The extensive circle of supporters and admirers of the Pizana Gallery, with its friends, artists, critics and collectors, represents a rare but compelling group of true adherents of art, whose actions shelter and nurture the dignity of true art. The centre of the artistically inspiring and creatively seductive area of the Pizana Gallery has become known as a space that no one leaves without undergoing some form of inner transformation, a flow of inspiring and a creative stimulus. That is why Pizana has long been not just an art gallery, but a spiritual toponym, an open horizon of boundless artistic reality” said Milica Bezmarević.

THE COLLECTION


Gayo Gallery, Porto Montenegro

GAYO GALLERIES

Gayo Galleries are the leading art galleries in Montenegro, promoting the works of some of the most extraordinary and prominent contemporary artists and estates from the past century, and having a decades-long relationship with such figures as Vojo Stanić, Petar Lubarda, Filo Filipović, and Dado Đurić. Founded in 1989 by Gajo Vojvodic, Gayo Galleries opened its doors as the first private art gallery in Montenegro, encouraging emerging artists and promoting established Montenegrin and international painters to radiate their energy through their outstanding creativity. Our art galleries have become synonymous with quality and diversity, exhibiting a comprehensive collection of original paintings and sculptures characterized by their variety - from abstract and surreal to post-impressionist works. We are especially proud of our collaboration with other museums and galleries, because we believe that works of art should know no boundaries. Our gallery has collaborated with many international museums such as The Pushkin Museum in Moscow, the Zurab Cimatelli Museum in Moscow, the Liu Haisu Art Museum in Shanghai, The World Art Museum in Beijing, the Maritime Museum of Montenegro, and The Naval Heritage Museum in Porto Montenegro. Numerous foreign galleries have recognized the potential of the artists we represent and have seen us as a possible partner in various international exhibitions. Gayo Galleries has collaborated with prestigious galleries such as the Albemarle Gallery in London, Galleria Giulia in Rome, the Space Gallery in St. Barth, the Liquid Art System Gallery in Capri, and the Bel Air Fine Arts Gallery. Along with our many international projects and collaborations,, Gayo Galleries also curates an interactive art programme, including public installations and important museum-scale exhibitions every year in Porto Montenegro. The scope of our projects grows year on year. Four years ago, the worldfamous artist Theodore Bradley had a live performance at the opening of his exhibition in our gallery. And this year, one of the most interesting sculptors today, Idan Zareski, presented his Big Foot Family collection of twenty-three pieces in a public space, at the waterfront village and exclusive marina in Tivat. It was considered the biggest cultural project in the Balkans, and many recognized it as the event of Summer 2021. Gayo Galleries will soon launch various new projects for the 2022 season, with one of them being a possible collaboration with the Poly Art Group from Beijing. We are a leader in the art market, thanks to our approach of investing in new artists and devoting energy to their development from a global perspective. We diligently choose foreign artists who in a few years, thanks in part to our strategy, will join the ranks of the most respected contemporary artists in the world. For this reason, we believe our business is both powerful and meaningful for the future of art and young artists. This year, the Gayo Galleries will reopen its space in Njegoseva, Podgorica where the projects will this time be managed by a young entrepreneur, Elena Vojvodic, whose father Gajo surrounded her with the ambience of the international cultural scene from a very young age. Elena’s vision for the Montenegrin art scene will contribute to cultivating and developing the art offer in all the locations where Gayo GalEXPO 2020 DUBAI SPECIAL EDITION

leries are present, introducing and evolving a fresh sense of youth and awareness in the family business. Our galleries are a space where art asks questions, communicates with visitors, paints everyday life with authentic techniques, and draws us into the cosmic rhythms of Milena Mijović Durutović and the world of Vojo Stanić, the space between the real and dreams. The identity and credibility of our galleries has been built up over three decades and has raised the level of the cultural scene in Montenegro. Gayo Galleries consistently seek the very best artistic talent to exhibit to admirers and collectors around the globe. What excites us most is being able to bring artists and audiences together.

Milena Mijović Durutović - Depths

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Gayo Gallery has collaborated with many international museums such as The Pushkin Museum in Moscow, the Zurab Cimatelli Museum in Moscow, the Liu Haisu Art Museum in Shanghai, The World Art Museum in Beijing, the Maritime Museum of Montenegro, and The Naval Heritage Museum in Porto Montenegro.


Dado Đurić, Trousseau Marie L, 278 x 150 cm

Vojo Stanić, Sailing, 80 x 80 cm

Ratko Odalović, Mr. G.'s Walk, 150 x 150cm

Gayo Galleries offer a space where art asks questions, communicates with visitors, paints everyday life with authentic techniques, and draws us into the cosmic rhythms of Milena Mijović Durutović and the world of Vojo Stanić, the space between the real and dreams.

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Apartments and Villas

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F

orza Mare and Forza Terra are family-owned, five-star, boutique hotels with authentic designs on equal footing with the warmth of their hospitality.

Tucked away in the Montenegrin coastline on the waterfront of Boka Bay in a small village of Dobrota, Forza Hotels accentuate comfort and luxury in equal measures. Whether you come by charter, boat or car, in our green oasis you will find peace, comfort, and quality food with impeccable service. The cinematic landscape of the Bay of Kotor is complete with beautiful terraces of our fabulous restaurants, decorated with palm trees, flowers and green - living walls.

Our two ‘little hotel gems’ have hosted a large number of celebrities from the worlds of fashion, sports, music, the automotive industry, large corporations, politics, Hollywood, relying solely on word of mouth as it turns to be our best recommendation. Impeccably intertwining a sense of privacy and a friendly, openhearted atmosphere, we at Forza Hotels promise each of our guests excellent service and unique experiences. www.forzahotels.com reservations.mare@forzahotels.com reservations.terra@forzahotels.com instagram: forzahotels


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` MILOŠ KARADAGLIC With Strings Attached

Photo courtesy of Lars Borges EXPO 2020 DUBAI SPECIAL EDITION

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Photo courtesy of Lars Borges

Born in Podgorica, Montenegro in 1983, Miloš Karadaglić is one of the world’s most celebrated classical guitarists. His career began its meteoric rise in 2011, with the release of his international best selling Deutsche Grammophon debut album Mediterraneo. Since then he has earned legions of fans, awards and acclaim around the world through his extensive touring, six chart topping recordings and numerous television appearances.

“I also very much like to dip my toes into different genres and see how far it can take me... the instrument is so versatile,' says Miloš.

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ow exclusive to Decca Classics, Miloš is committed to expanding the repertoire for the classical guitar through commissioning of new works. His latest release The Moon and the Forest features two world premiere concertos, by Howard Shore and Joby Talbot. “To inspire composers to write new works for the classical guitar has been my mission from the very beginning. This album, with two brand new concertos, is a professional and personal fairy-tale come true – playing pieces that have been written for you, by two composers you admire so much, is nothing short of magical.” Over the past decade, the instrument's popularity has exploded thanks to his pioneering approach. Aspiring guitarists can even learn from him through Schott's ‘Play Guitar with Miloš’ series. He is considered to be one of the most important exponents of the classical guitar today hence BBC Music Magazine including him in their list of the world’s greatest classical guitarists of all time

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“I also very much like to dip my toes into different genres and see how far it can take me... the instrument is so versatile,' says Miloš, who is as well known for playing innovative arrangements of classic pop as he is for the pure classical repertoire. The Voice of the Guitar tour integrated music from Bach to The Beatles. The Sound of Silence was released hot on the heels of a 2016 cross-genre album Blackbird – The Beatles Album, which features duets with Gregory Porter, Tori Amos, Steven Isserlis and Anoushka Shankar. 'I think it's important to allow yourself to be adventurous,' the guitarist explains, 'Different repertoires have been very important to me at different stages of my life. However, my deepest connection will always be to classical music.” A passionate advocate for music education, Miloš is an active patron of numerous charities supporting young musicians in the UK, Montenegro and abroad. He rose to national prominence from a very young age before winning a scholarship to London’s Royal Academy of Music when he was 16 years old. He continues to live in London while keeping close ties to his homeland. “A string is like a human voice... with guitar, the possibilities remain uniquely endless.' Even though your career is progressing at a whirlwind pace, to achieve such a level of prominence must come with a certain amount of sacrifice. How important is dedication in getting to the top? Dedication and uncompromising focus is everything. Living deeply and profoundly has never been harder though- the world is increasingly distracted and the value of meaningful connection, focus and

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Photo courtesy of Lars Borges

Exuding a sophisticated yet relaxed style, Porto Montenegro’s residential village currently comprises some 350 luxurious apartments – with a limited number still available to buy – a dynamic and varied mix of boutiques, cafes and restaurants; a state-ofthe-art marina with 450 berths catering to yachts from 12m to 250m; and a yacht club with one of the most glamorous pools in Europe.

understanding has never been greater, rarer, nor more difficult to find. Music is a sort of miracle that is drawn from the deepest depth of your being and protecting that from all the shallow temptations is key to succeeding and moving forward. Every time you go out on stage you’re not only sharing the music with your audience, but also a part of yourself and everything that you experience and represent. It is all part of the story you’re telling. It’s a privilege.

was very lucky. And even though those were difficult times for everyone, they made us who we are today. In those days, we appreciated the true and meaningful things more. It’s so easy to forget that now.

Why did you choose the guitar? I think it was the guitar that chose me! Music has been a natural impulse for me ever since I can remember and the guitar just happened to be there, at home. My father didn’t play it anymore, and it was just collecting dust on top of a cupboard. When I was around eight years old I asked to see it…. and it immediately became my best friend. Since then, I have played it every day and I keep on discovering its magic. It was a key that opened the doors to an amazing new world for me, a world full of joy and colour. I never looked back.

How did you come to end up at London's prestigious Royal Academy of Music at the age of just 16, especially during what was an economically and politically difficult time in Montenegro? It was my dream to study in a place like the Royal Academy of Music, to live in a city that is the centre of the world, to grow and develop there and be the best musician and person I can be… London was an impossible dream- it was so far away in every sense of the word. But often, when you unreservedly believe in something, it tends to happen. I ended up there truly against all the odds. I was 16 and arriving in London from Montenegro at that time was like landing on Mars- my whole life changed overnight. But I was given a chance and I grabbed it with both hands. I had no other choice, no plan B. My goal was clear and that was incredibly liberating…

Can you describe your childhood in Podgorica, Montenegro? I grew up surrounded by a family that loved me unconditionally and endlessly. They were also my first audience. I spent my days playing, singing, studying and being with my friends outside. We were fearless and free… and we owed that freedom to our strong family values and the respect we all had for each other. I don’t remember that I ever had a single meal without everyone being around the table. I understood my talent, too, and the value it held. It

I know from trying to catch up with you for this interview that you seem to spend most of your time "on the road". Which cities have left a special impression on you? Where is home? Home is London- it’s a city that inspires me with its constant evolution and relentless energy. This atmosphere pushes you forward and demands that you always reach for new heights and strive to be better than yourself. Very few places are like this… this is an addictive feeling. I am lucky to have seen most of the world and experienced the wildest things. But

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The Sound of Silence was released hot on the heels of a 2016 crossgenre album Blackbird – The Beatles Album, which features duets with Gregory Porter, Tori Amos, Steven Isserlis and Anoushka Shankar. 'I think it's important to allow yourself to be adventurous,' the guitarist explains, 'Different repertoires have been very important to me at different stages of my life. However, my deepest connection will always be to classical music.”


Photo courtesy of Lars Borges

" Montenegro has changed dramatically over the last ten years and it has become an incredibly desirable destination for people all around the world. I am thrilled when I see beautiful projects and ideas come to fruition".

every time I land at Heathrow, I feel I am back where I belong. However, if there ever was another place I would consider moving to, I think it would be Paris. Paris is a miracle of beauty and feeling and it’s everything London is not… I adore it and I need it in my life. I am actually writing my answers for this interview while travelling on Eurostar. Do you meet many Montenegrins on your travels? Yes, I do and I love it… I meet Montenegrins in both the most ordinary and in very unusual places. I love hearing their stories and seeing their lives- it gives me such immense pleasure. Connecting with people is very important for me… it’s something I’ve always loved and enjoyed. How do you see Montenegro from a distance? Do you follow its economic development and what is your view of projects like Porto Montenegro, Aman Sveti Stefan, Luštica Bay, Portonovi and others that have brought global brands to Montenegro? Which other brands would complete the image of our country as an elite tourist destination? I feel very much part of everything that happens in Montenegro simply because I keep very close ties to it. I spend more than a few months of the year down on the coast there, in Przno to be precise. Montenegro has changed dramatically over the last ten years and it has become an incredibly desirable destination for people all around the world. I am thrilled when I see beautiful projects and ideas come to fruition. Each and every one of them is special in its own way, but we must remember that none of it would be

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happening if our country wasn’t truly and incredibly unique. It’s so important to never lose sight of that and to do all we can to preserve nature and resist overdevelopment. This is our duty. You had a great concert at the 2021 Kotor Art Festival. Does Montenegro have the potential to develop and expand its cultural tourism? It absolutely does. Elite destinations need cultural content. It’s the whole lifestyle around it that matters, too- this is my personal passion and professional mission when it comes to Montenegro. I am excited about the plans for the future and the ideas we have been discussing. www.milosguitar.com

"Elite destinations need cultural content. It’s the whole lifestyle around it that matters, too- this is my personal passion and professional mission when it comes to Montenegro. I am excited about the plans for the future and the ideas we have been discussing."

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RIVER PARK MASTERPLAN (STUDIO SYNTHESIS)

SUPPORTED BY:

• Scientific Institute Panarchy 11 – Research for Resilience, Montenegro

• Ministry of Ecology, Spatial Planning and Urbanism Government of Montenegro

• Municipality Kolašin, Montenegro


Resilient River Park “Breza” Kolašin Montenegro

DESIGNED BY:

Studio Synthesis architecture & design

PRINCIPAL ARCHITECT:

PhD Sonja Radović Jelovac, CEO/Founder www.studiosynthesis.me www.panarchy11.me

RESEARCH AND DESIGN TEAM:

PhD Sonja Radovic Jelovac, Principal architect, President MSc Boris elek, Senior architect MSc Vuk Markovic, Senior landcape architect MSc Marko Jovic, Landscape architect MSc Jovan Valdimir Cukovic, Architect MSc Tom Djeljosaj, Architect MSc Nadja Goranovic, Landcape architect MSc Dragana Ščepanović, Bilogist


River Park Masterplan (Studio Synthesis)

THE RESILIENT RIVER PARK “BREZA” - A LIVING LAB

character of public spaces consisting of 3 physically detached but by their characteristics, integrated amphitheatre plateaus between the pedestrian bridges. As a multifunctional node of social interaction within the park, it is a place for gatherings, relaxation, observation and a space for workshops, events and lectures.

The Resilient River Park Breza is imagined as a user-centred, open-innovation ecosystem to develop research and innovation processes within a public-private-people partnership. The Living Lab is divided in sevTHE RESEARCH CENTRE eral subzones with the aim of becoming a The key features of the zone are the Research Cenmajor regional incubator for natural science tre and the Natural History Museum which are the and sustainable development. focal point of the educational ambient segment and

The Living Lab is divided into several subzones with the aim of becoming a major regional incubator for natural science and sustainable development.

THE LIVING LAB CONSISTS OF: THE BOTANICAL ISLAND

The Botanical Island zone will be an educational ambient segment stretching along both sides of the Tara River to physically extend onto the main pedestrian walkway. It will be an annex to the Research Centre and the Natural History Museum. The main functional characteristics of the zone are located on the island and interwoven with a grid of botanical footpaths extending to the public space in the form of picnic areas, platforms for the observation of the surrounding biological diversity and experimental zones for breeding autochthonous plant seeds. These interventions will transform the island into an inclusive Botanical Park and open air research area.

THE OPEN AIR AMPHITHEATRES

Backing on to the Botanical Island and the Research Centre, located at the crossroads of the main pedestrian promenade, this zone has the exceptional

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a space towards which the other zones gravitate and functionally extend to. The Research Centre and the Natural History Museum are designed as incubators for the preservation, promotion and sustainable planning of natural resources. A special focus here is on education and the implementation of the concept of ecosystem services and green infrastructure, but also on the preservation of the genetic material of the vegetation of the north of Montenegro. The part of the Research Centre is designed to act as a Technological-Innovation Centre.

THE EMERGING LANDSCAPE

Based on the research results, this zone is planned to be an experimental zone for forming and enriching wildlife habitats, but also for testing measures of ecological engineering for riverbed arrangement and regulation.

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Kolašin city center, Montenegro (Scientific Institute Panarchy 11)

Kolasin Municipality (Montenegro) is becoming the key northern tourist destination due to its outstanding natural resources and the ongoing infrastructure development in the town. In this context, the setlement of Breza is being developed as a new tourist destination with several five star hotels planned, and a new town centre with the starting station for the new gondola thet will connect the town of Kolasin with the Bjelasica Ski Resorts (specifically Ski Resort 1450 and Ski Resort 1600).

THE ECO FOREST

This zone is designated to be used for activities on forestation and the monitoring of the forest stock, as well as monitoring natural processes for research purposes. The zone will also have pedestrian and cycling lanes leading to the village of Radigojno which is the basis for the further expansion of the park.

THE PUBLIC SPACE

Breza, with planned capacitates and an initial gondola station at Bjelasica ski resort, will be turned into a new part of Kolasin and a main tourist hub in the town. To enrich the public amenities for future users, two subzones with a public character will be organised offering amenities for different user groups.

GONDOLA SQUARE

The central public space will be a square strategically positioned at the intersection of all the vital forms of communication. It will be the main link to the built environment in the park’s hinterland. The open, urban plaza is functionally framed by a sport-recreational zone and contains commercial pavilions on one side and the base station for the ski gondola on the other. Physically, they back against the main internal road and as a point with the greatest user frequency, it is the place for the organisation of public events, concerts, skating, Christmas events and a point of interaction between the local community and the visiting tourists.

SPORT & RECREATION

This is a public zone with sport-recreational amenities. It extends to the main pedestrian promenade, framed by a cycling and jogging track. The zone itself featuress multifunctional sport courts, playgrounds, a workout space, commercial pavilions

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for relaxation, a public plaza and an isolated, quite zone with a yoga garden positioned along the river.

BENEFITS OF INVESTMENT

Kolasin Municipality (Montenegro) is becoming the key northern tourist destination due to its outstanding natural resources and the ongoing infrastructure development in the town. In this context, the setlement of Breza is being developed as a new tourist destination with several five star hotels planned, and a new town centre with the starting station for the new gondola thet will connect the town of Kolasin with the Bjelasica Ski Resorts (specifically Ski Resort 1450 and Ski Resort 1600). Connected to this, the Resilient River Park Breza (RRPB) offers the opportunity to develop a project under the principle of a public private partnership (PPP). The master plan for RRPB offers two integral phases of the project, the Research Living Lab and the new city centre and Gondola Square: 1.The Living Lab – A Natural Sciences and Tech Innovation Centre Research institute benefits: a seed bank of northern vegetation, a centre for climate adaptation research, an ecological engineering testing area, a state-of-the-art Research and Innovation Centre, and an Education Centre and Natural History Museum. 2.New City Centre - Gondola Square benefits: Leasing of the Gondola, a Sport and Recreation Centre for 5*hotels in the municipality of Kolaisn , the option of Wellness & Spa development, and a Food and Beverage area.

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We can be found in 4000 hotel rooms in the region, more than 100 restaurants, hand delivered to 1000 key decision makers and everywhere possible where we can get our product in front of targeted clients. In the era of Covid-19 and ‘low touch’ tendencies where there is regular use, our magazine can also be digitally downloaded by scanning our QR code and this option is available in multiple locations, from hotel lobbies, restaurants, gyms and beauty / cosmetic salons, general reception areas, airport lounges and in multiple locations across the region.

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Maljevik Bay A GREEN MEDITERRANEAN CITY MONTENEGRO Client: SONUBA MONTENEGRO

Photo credit: @identity & promotion

DESIGNED BY: STUDIO SYNTHESIS architecture & design www.studiosynthesis.me MONTENEGRO


Mlejvik Bay Masterplan (Studio Synthesis)

The particular attention paid to the natural landscape marks this vision and enhances the architectural layouts, the indoor-outdoor experience, and the cultural setting, while allowing our guests to enjoy the Mediterranean climate all year round.

The vision for the project is Mediterranean Lifestyle set along a pristine part of the Montenegrin coast. The masterplan approach is inspired by the natural setting of the Maljevik coastline and the hinterland of the mountains.

T

he site has been organized into several distinct zones as per the design brief with the idea of creating a self-sustainable destination for future users. A fusion of vernacular and contemporary architecture in a subtle and elegant manner marks the architectural vision of the project where buildings respond to the site’s topography and climate. The architectural layouts and urban fabric create beautifully landscaped promenades that frame the stunning views through a bioclimatic approach. The particular attention paid to the natural landscape marks this vision and enhances the architectural layouts, the indoor-outdoor experience, and the cultural setting, while allowing our guests to enjoy the Mediterranean climate all year round. The area of mature pine trees along the coast lends itself to the creation of a Maljevik Waterfront Park. A network of paths, benches, breakout areas, and viewpoints is planned, working with the existing topography and preserving the local vegetation as much as possible. The lungomare is an integral element of the landscaping, connecting the costal zones of the resort. The estimated length is 1.3 km. The lungomare will extend beyond the boundary of the project and offer the resort guests an opportunity to explore the

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surroundings.Entrance Zone A is envisioned as a unique, green welcoming area with a large roundabout and wide avenue that has an unobstructed framed view down the pine promenade through the inner city to the sea horizon in the background, providing an unprecedented entrance experience for both residents and visitors. The welcome avenue divides the zone into two functional areas that are formed of lower volumes, on grade facilities and lush urban forests. The northern section creates a sport/recreational area and the southern offering a retail cluster, urban parks and service area. On grade car parks are expected for visitors in both areas. The focal point of the resort is the Mediterranean City organised into blocks and envisaged as an urban structure which transposes the atmosphere of a traditional Mediterranean City - a fortified, dense, vibrant area with the main square as the focal point, pedestrian promenades, open spaces with a high number of retail venues, restaurants and bars, shops, entertainment and services providers, pocket gardens, and residential buildings with atriums and courtyards. The City is planned to sustain yearround activities. The area of the Mediterranean City itself is organised across the Maljevik plateau and is composed of blocks of residential buildings from four to eight stories high, sitting on the basement car park podium. The functionally of the city is divided into two zones: a quite private quarter and a more vibrant public-private zone. The main difference is reflected in the opposed functional treatment of the building’s ground floor.

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Photo credit: @identity & promotion

The first zone, with a more private character, house buildings with residential units and their private gardens on the ground floor, forming intimate, gated courtyards – these are residents only community spaces with amenities /atriums raised from the street level to ensure privacy. The second zone has a more public character where buildings have a variety of retail spaces on the ground floor creating lively, high spirited open spaces with a high footfall – framed by and adjacent to the main square and the pedestrian promenades. The contrasting ground floor typology creates these atmosphere, open spaces and neighborhoods of different individual identities and qualities, thus providing future residents with the option of living in either a vibrant, energetic and busy or a quiet, calm and family-oriented quarter. Inspired by the local riviera flora and the topography of the terrain - in the upper, elevated part of Zone C, Olive Hill Garden has been envisaged as a fine dining F&B area nested between olive trees with terraces overlooking the city to the east, and the pine forest and coastline to the south. The proximity of the pine forest and beach, and the unobstructed sea view from the higher floors are considered to be prime values for the residences on the southern edge of the city as well as the serenity and peacefulness for the ones in Zone C. On top of that – the isolated location overlooking the sea, the Mediterranean flora, the coastal atmosphere, the pine forest scents and the myriad of open spaces – in short, the Mediterranean lifestyle in general, are considered to be key selling points.

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The six promenades have been identified as a significant factor for the development of the character and vibrant street life of the city. They create a network of streets where the various connections are marked by local urban spaces. Each promenade begins and ends with the ring road that circles around the city representing the fortification element of an old Mediterranean city. Apart from connecting the main shopping and focus areas within the city, these promenades are planned to be outdoor extension of the ground floor retail venues that are to be found along each of them. The promenades would be recognizable by the type of Mediterranean flora represented along each of them. The hotels are organized in Zones G and E. The main hotel is an upper upscale full-service hotel, aiming at high-income guests who seek a high quality family holiday experience, in the relaxed and authentic setting of a historic Mediterranean village, but at the same time having the ability to cater to the MICE segment. The hotels are landmarks, the backbone of the whole resort and its central component in terms of its operations and communication. Part of the proposed concept in Zone G is the vineyard theme. The vineyard is envisioned as a landscape element in the upper part of Zone G, as an anchor of the cultural and agricultural history of the area. This area is also planned to include highend F&B facilities. Two distinct locations offering high-end upscale villas surrounded by both a lush Mediterranean ambience and state-of-the-art facilities are envisaged.

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The area of mature pine trees along the coast lends itself to the creation of a Maljevik Waterfront Park. A network of paths, benches, breakout areas, and viewpoints is planned, working with the existing topography and preserving the local vegetation as much as possible.


One of the locations is within Zone D, isolated within the pine forest in an area with less valuable trees allowing for construction while keeping the higher quality trees surrounding the villas. The location offers magnificant views over the bay and a high level of privacy at the same time. The second location is the cascade row villas overlooking the beach in Zone G, benefiting from the hotel facilities in the immediate vicinity, which also allows for potential branding. The coast is further developed including a Marina located below the hotel in Zone E and high-end beach, bars while keeping the natural setting of the coast and the naturally formed bays. This development offers a unique opportunity for a Mediterranean lifestyle experience with its extensive offer of real estate and hospitality facilities benefiting from a magnificent natural setting whose most valuable elements have been kept intact.

CLIENT: SONUBA MONTENEGRO DESIGNED BY: Studio Synthesis architecture & design www.studiosynthesis.me info@studiosynthesis.me PRINCIPAL ARCHITECT: PhD Sonja Radović Jelovac, CEO/Founder DESIGN TEAM: Msci Dragana Mihić Tešanović, arch. Msci Boris Elek, arch.Msci Tom Djeljošaj, arch Landscape arch. Msci Vuk Marković, Landscape arch. Marko Jovic, Design collaborators: Msci Aleksandar Nedeljković , Architect Msci Djordje Nedeljković, Architect LANDSCAPE ARCHITECTURE: Scientific Institute PANARCHY 11 – Research for Resilience, Podgorica, Monetengro www.panarchy11.me info@panarchy11.me

Photo credit: @identity & promotion

This development offers a unique opportunity for a Mediterranean lifestyle experience with its extensive offer of real estate and hospitality facilities benefiting from a magnificent natural setting whose most valuable elements have been kept intact.

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Visit Bar, Montenegro A town on two magical shores Why should you visit the town of Bar? Multiconfessional and multiethnic place, where all the people live in harmony! The Old Olive Tree, a symbol of the city of Bar, one of the oldest in Europe – it has been there for over 2,240 years Cruising on the largest lake in the Balkans, Skadar Lake Yacht Excursions for Perfect holiday feeling Diving lessons for beginners and professionals. Exploring underworld and shipwrecks. Mesmerizing canyons and stunning hiking trails Old Fortress, Stari Bar Vivacious Festivals and Events Unforgettable Sunsets Scenic nature Waterfront Hotels and Properties for rent

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SOCIAL MEDIA

www.bar.travel

Photographer: Danilo Dado Pavlović

@bar.travel

WEBSITE

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WE ARE BY FAR THE MOST INSPIRING PLACE TO STAY IN PODGORICA. Perfectly positioned at The Capital Plaza complex in the heart of Montenegro’s capital city, we offer a special kind of hospitality imbued with the splendidness of casual elegance. We own the biggest Penthouse in the city, worthy even of a royalty. If you ever have a top special event, this suite will undoubtedly bring you a success story. We are home of The Living Room, the leading lounge and dining hub in Podgorica, the place to see and be seen. We are the part of STORY Hospitality’s brand collection that includes STORY Hotels & Resorts and CUE Hotels, located in amazing destinations.

We are a proud Green Key member, the world’s leading sustainability certification program for the hospitality industry. Our mission is to preserve natural resources, while providing the best experiences and services to our guests. We encourage you to wind down and feel the breath of the hotel, creating your own stories to remember through distinctive experience. Chic yet homely, spacious and simplistic is what we offer, moving beyond your needs and expectations. We are designed for those who appreciate the subtle luxuries in life.

UNPLUG & PLAY!

Cetinjska 7, The Capital Plaza | 81000 Podgorica Montenegro | Tel: +382 20 684 000 | info.podgorica@cue-hotels.com www.cue-podgorica.com



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Economic Development and the Investment Climate MONTENEGRO - A RELIABLE AND SAFE HARBOUR FOR INVESTMENT

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Photo courtesy of Ranko Maraš Our Lady of the Rocks, Boka Bay


Photo courtesy of Slaven Vilus Black Lake, Durmitor National Park

As such, since regaining its independence in 2006, Montenegro has been an attractive destination for foreign investors. Its economic development and growth have been centred around attracting investment through the creation of a competitive business environment, striving to become the business hub of South-East Europe.

Although it is a relatively small country, Montenegro has inherited a long tradition of statehood. With its centuries-long multiconfessional and multi-cultural tradition, lying at the crossroads of East and West, Christianity and Islam, Montenegro represents an economically stable, democratic, multicultural and multi-religious society and an active promoter of good neighbourly relations as a participant in regional cooperation.

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olitically, Montenegro has turned towards the West and European values, joining NATO and aspiring to EU membership; among Western Balkans countries, Montenegro is the furthers along the path to EU integration, with a prospective membership date of 2025. As such, since regaining its independence in 2006, Montenegro has been an attractive destination for foreign investors. Its economic development and growth have been centred around attracting investment through the creation of a competitive business environment, striving to become the business hub of South-East Europe. The country offers many rewarding investment opportunities and impressive natural potential, along with a government committed to the continuous improvement of the business climate, so as to attract foreign investors. Furthermore, having become a member of the WTO in April 2012 and thanks to the process of the negotiations for accession to the EU, as well as having become a member of NATO in June 2017, we

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can be optimistic about the ongoing commitment to the constant improvement of both the Montenegrin trade system and the general business climate in Montenegro. Given all of the above, it is important to emphasise that Montenegro represents a safe investment destination, where potential investors know they can count on the support of all segments of our society. Thanks to its strategic geographical position, Montenegro enjoys the ideal location to become an investment centre for both the regional and broader markets. This is further emphasised by the fact that Montenegro is open to foreign investors that receive so-called national treatment, i.e. foreign investors have the same status as domestic ones; foreign investors may invest in any industry and are free to transfer funds, assets and other goods, including profits or dividends; the country uses the euro as a national currency; it possesses a competitive tax system – the general VAT rate is 21%, while VAT on accommodation services in all hotels is just 7%. The tax on corporate profit is 9%, tax on personal income is also 9% and tax on real estate transfer is 3%. Montenegro guarantees the free flow of capital, thanks to its agreement with the WTO as well as agreements on free trade with the EU, CEFTA, EFTA, Turkey, Ukraine and Russia; it also provides significant incentives for investment in business zones and areas of specific economic interest as well as other business-friendly measures. Montenegro enjoys access to a market of around 800 million consumers owing to these free trade agreements. The procedure for creating a company is simple and takes four days with a minimum founding capital of just €1. In addi-

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tion, Montenegro has a high-quality banking sector, with 12 private banks, as well as a highly-qualified and affordable workforce, while English is widely spoken across professions and trades. The Montenegrin government is well aware of the importance of foreign direct investment for the sustainable growth of the economy, as the recorded increase in capital in the previous period has been driven largely by very significant volumes of foreign investment. It is worth mentioning that in 2020, most of that investment came from the countries that are members the NATO Alliance and other major investors include EU countries, Russia, Turkey and the UAE. From an economic point of view, it is important to remember that Montenegro, according to the estimates of the WTTC, is one of the fastest growing tourism destinations with an upward trend year-onyear. Although we are a country with a territory of less than 14 thousand square kilometres, we have a lot to offer as is demonstrated by the capital inflow interest of some of the world's leading investment companies. Indeed, Montenegro is a competitive and dynamic destination with the clear strategic objective of developing its economy, within which a sustainable tourism portfolio plays a crucial role, whilst also aiming to protect our spectacular, beautiful, natural resources. Nature has formed such a mosaic in Montenegro that the entire territory is a unique and complex patchwork of different destinations, which should be observed and economically valorised through its "harmonious diversity". Therefore, in September

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1991 with the adoption of the Declaration of Montenegro as an Ecological State, the county became the first ecological state in the world, and that document was presented at the UN Conference on Environmental Protection the following year. Montenegro’s coastal and Mediterranean location offers the basis for the development of tourism and the economy. Thanks to its favourable geographical location on the Adriatic Sea, it is “The Gateway to the Balkans”, with convenient access for trade via the Port of Bar, significant air accessibility as well as existing railway and road connection to Eastern and Central Europe, thus offering a stimulating business environment. Tourism, together with the energy sector and agriculture, represents the leading target areas of the economy in Montenegro and tourism in particular is one of the fastest growing economic sectors. Tourism has a positive economic impact and all our activities undertaken for further development of the tourism sector are aimed at ensuring its sustainability to the highest possible degree, which is why we have the obligation to achieve responsible, sustainable and focused planning and management in order to ensure a long-lasting future for our tourism industry. However, although progress has been achieved, intensive work is still being done to additionally strengthen the position of Montenegro as a tourist destination, primarily through the plan to increase the range and number of our high-class accommodation facilities, improving air accessibility, ensuring the diversification of our destinations and the consequent extension of the season, and of course more intensive promotion of tourism opportunities,

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Photo courtesy of Ranko Maraš Kotor Old Town

Photo courtesy of Ranko Maraš


Photo courtesy of Slaven Vilus, Kapetanovo Lake

Over the past 15 years, local real estate agents have seen Montenegro emerge as a key second-home and property-investor market in the Mediterranean. Montenegro has been developing successfully and has surpassed even the most optimistic of expectations.

as well as increasing our efforts in achieving better competitiveness with respect to other countries in the region and so on. By analysing particular aspects of the tax policy, with the intention of improving the competitiveness of Montenegro, reforms that have been carried out include the provision of appropriate fiscal incentives for priorities in different sectors: high-end tourism – including 5-star hotels, the production of food products and investment in the energy sector. When it comes to new investment in the tourism sector, the establishment of a favourable investment and business environment has led to increased interest in building new and raising the quality of existing hotel facilities and opening new businesses. Moreover, in the north of the country there is a lot of investment activity going on, specifically through the development of new ski resorts. That Montenegro has a lot to offer is only confirmed by the investment made by some of the world's leading hotel brands, such as Aman Resorts, One&Only, Hilton, Regent, The Chedi, Swiss Hotel, Four Points By Sheraton, CUE, Iberostar, Falkensteiner, and the announcement of the development of resorts and hotels by The Ritz-Carlton as well as a number of hotels from the Accor and Marriott groups. When we consider these famous names, a country like Montenegro can really be proud that in such a small space it can offer its guests the opportunity to stay in hotels operated by the most renowned international hotel brands. Montenegro also has a fairly liberal visa regime, and holders of travel documents issued by EU member-states, the United States of America, the Kingdom of Norway, the Republic of Iceland, the Swiss Confederation, United Arab Emirates, Canada, the Commonwealth of Australia, New Zealand, or Japan, may enter the country, cross its territory, and reside in Montenegro for up to 30 days without a visa. However, we are constantly striving to see more improvements in our competitiveness, transparency

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and business-friendliness, as sustainable development is a must for our country. In fact, sustainability is the only option for Montenegro and each square metre of our land should only be planned, designed and built upon in compliance with the highest standards of sustainability. So, we are looking for and inviting investors to sustainably invest in our country, to build sustainably, develop smartly, improve quality, and in so doing to introduce the best brands and the highest standards of business and investment into Montenegro.

MONTENEGRO’S REAL ESTATE MARKET

Over the past 15 years, local real estate agents have seen Montenegro emerge as a key second-home and property-investor market in the Mediterranean. Montenegro has been developing successfully and has surpassed even the most optimistic of expectations. One of the reasons for this is Montenegro’s ability to cater for everyone: investors can choose from extravagant seaside resorts, picturesque waterfront rustic homes, or new resorts servicing the increasingly popular mountain and ski areas in the north. For those who prefer the coast, especially Boka Bay, this area is being transformed into a high-end destination that is attracting ultra-high-net-worth individuals seeking both primary and second homes, as well as discerning investors with a sharp eye for potential. Investors are looking to the future keenly and counting on strong price growth and increasingly attractive yields. Over the coming years, more than five billion Euros will be invested into high-end resort projects in this region that will also include new mixed-use projects. Whether it is a studio, a quant mountain retreat, a luxury apartment in a new marina town or a waterfront mansion, Montenegro has something for everyone when it comes to second homes and investment in property. THE COLLECTION


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Photo courtesy of Ranko Maraš, Boka Bay


Invest in Montenegro JAKOV MILATOVIĆ

Minister for Economic Development The Government of Montenegro

"Montenegro was named the fifth fastest growing tourist destination by the World Tourism Organization in 2019, so we are getting back on track and opening up opportunities for new investment in this sector".

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Our strong economic recovery this year, as well as projected stable growth going forward, is a very good signal for investors. After the collapse in 2020, the Montenegrin economy is returning to stability and long-term sustainable growth. In addition, we are committed to the rule of law and the eradication of corruption in order to create a safer and better economic environment for all credible investors. As such, we have shown our readiness to provide all the necessary support across all spheres in removing potential barriers to business, as well as increasing efficiency in the implementation of current and future projects. The tourism sector, which remains the most developed and largest industry in Montenegro, generating about 25% of GDP, is still very attractive to investors, and our focus is on diversifying our tourism, shifting towards health, congress and rural tourism, and thus contributing to the extension of the tourist season and enablign us to attract high-end consumers from Western markets. 2020, due to the COVID-19 pandemic, was one of the worst years for the tourism sector on record, which directly affected the overall decline of the Montenegrin economy, which showed a 15.2% drop in GDP. However, by strategically planning and targeting traditionally important, as well as certain new markets, the realization of the season in 2021 contributed to the growth of the Montenegrin economy in the second quarter of

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2021 by an impressive 19%, which is the fifth best result in Europe. Montenegro was named the fifth fastest growing tourist destination by the World Tourism Organization in 2019, so we are getting back on track and opening up opportunities for new investment in this sector. In order to attract potential investors and companies, the government of Montenegro has sought to constantly improve the business and investment environment. Foreign companies enjoy the same treatment as national companies. Foreign investors can invest in any industry and are free to transfer funds, assets and other commodities, including profits or dividends. Foreign investors can acquire rights to real estate, such as commercial property, business premises, residential space or land to be developed for construction. Montenegro also offers domestic and foreign investors a series of incentive measures through various support programmes and tax exemptions. Some of these programmes represent part of the Programme for Improving the Competitiveness of the Economy for 2021, which is being implemented by the Ministry of Economic Development in cooperation with the Investment and Development Fund, and which includes 5 financial programme support lines. In addition, newly established production companies operating in economically underdeveloped municipalities are entitled to a tax exemption on profits for the first eight years, and newly established production companies operating in economically underdeveloped municipalities that employ people

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for an indefinite period, or at least five years, are entitled to an income tax exemption for a period of four years from the date of employment. These are just some of the competitive advantages we want to highlight at Expo 2020 Dubai. Speaking of Expo, I must mention that teh many and various successful investment schemes from the UAE are the best promoters of the investment potential of Montenegro, which this government plans to affirm even more in order to be a secure partner for future investors. Our goal is to make Montenegro as attractive a destination as possible for future investment. The contribution that investmenr from the UAE has made to Montenegro so far is great, bearing in mind that some of the most successful investment schemes overall ahve been those that originated from the UAE. That is why we want to acquaint investors from MENA with the numerous opportunities that Montenegro offers. This synergetic effect between the government and investors is the key to Montenegro's success. Our partnerships with the Middle East are best reflected through our intensive cooperation with the UAE, which has had a very positive impact on Montenegro’s economy. Coperation between Montenegro and the UAE is substantial in many areas, and it is important to point out that the UAE has been one of the largest foreign investors in Montenegro over the past five years. We especially appreciate the UAE's contribution to the development and implementation of a range of valuable infrastructure projects in Montenegro, which further affirm our country as a safe and attractive investment destination. Investors from Abu Dhabi have been present in Montenegro since 2007 through the Abu Dhabi Financial Group (ADFG), a large investment fund specializing in real estate and financial services, based in Abu Dhabi, which has invested mostly in companies and banks. The most significant UAE investors in Montenegro are Abu Dhabi Capital Group (notably investing in the Capital Plaza in Podgorica, a commitment worth about 140 million euros), the Investment Corporation of Dubai (ICD) (which bought Porto Montenegro in 2016), BMJ Industries (who have invested in a new Tobacco Plant in Podgorica), and Masdar Energy (with investment in the Wind Farm at Krnovo). We also recognize and value the Joint Economic Committee (with two sessions held first in 2013 and again in 2020) between Montenegro and the UAE as a great platform for exchanging experiences in direct contact and further strengthening our direct economic cooperation. The Pavilion of Montenegro offers visitors an insight into the country’s natural beauties, its National Parks and our diverse ecosystems, while promoting it as an open and safe investment destination. Our aim is to highlight the richness of Montenegro’s biodiversity, its innovative efforts to strike a balance between man and nature and its strategy for rapid economic development that seeks to preserve the environment for future generations. The COVID-19 pandemic has posed many challenges to the world, testing the limits of global cooperation and our ways of considering and understanding what is a new reality for all of us. Expo 2020 Dubai is an agent for future global progress and this event will help strengthen economies and stimulate growth, foster innovation and drive technological and scientific development across various fields and sectors. I believe that Expo 2020 Dubai will undoubtedly have a major impact on global society, raising aware-

ness of the great range of developments, achievements and discoveries that are happening today and improving the quality of life for humanity as a whole. Expo 2020 Dubai is a leading platform for presenting new possibilities and solutions to those challenges that call for global and collective action, and it is my very great honour to lead the team of the Pavilion of Montenegro that will create a memorable atmosphere and establish cooperation with renewed optimism for the future in the spirit of the official Expo 2020 Dubai theme “Connecting Minds, Creating the Future”. Since Expo 2020 Dubai represents the first World Exhibition to be held in the MENASA region (the Middle East, North Africa, and South Asia), the participation of Montenegro is also important in terms of strengthening current partnerships in the region, as well as initiating new areas of economic cooperation with all the countries that are participating, most especially the UAE as the host country and the other countries of the GCC region. Finally, I must mention that I would like as many visitors as possible to visit our Pavilion to experience and feel the cheerful spirit of our people, the wild beauty of the Montenegrin mountains and the soothing ambience of Boka Bay and the Adriatic coast in general. All those who intend to expand their businesses into this part of Europe will surely find promising opportunities to invest with us in Montenegro, because I firmly believe that we are still a hidden gem with extraordinary untapped potential.

Photo courtesy of © Ismail Noor / Seeing Things for Simmetrico Network

Foreign companies enjoy the same treatment as national companies. Foreign investors can invest in any industry and are free to transfer funds, assets and other commodities, including profits or dividends. Foreign investors can acquire rights to real estate, such as commercial property, business premises, residential space or land to be developed for construction.

Al Wasl Plaza Expo 2020 Dubai - Photo courtesy of Expo 2020 Dubai EXPO 2020 DUBAI SPECIAL EDITION

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Invest in Montenegro MILOJKO SPAJIĆ

Minister of Finance and Social Welfare The Government of Montenegro

"Our favorable tax system with one of the lowest corporate income tax rates in Europe at just 9%, with personal income tax on all salaries of 9%, as well as VAT at a standard rate of 21%, while the reduced rate is just 7%, as well as offering a zero VAT rate on certain goods".

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Since it regained its independence in 2006, Montenegro has managed to attract over 10 billion euros of foreign direct investment, and in that period, investors from more than 100 countries around the world have decided to invest their capital in Montenegro. Over the last 10 years, we have recorded an increase in foreign direct investment by companies from EU countries such as Austria, Italy, Hungary, the Netherlands and Germany, as well as from the Middle East, primarily the United Arab Emirates as a strategically important partner of Montenegro, and countries with which we have signed bilateral or multilateral free trade agreements such as Russia, Turkey and Norway. But in my opinion all this does not go far enough enough, and our full potential has not been used, not even half of it. Thats why we need to create the best and the most attractive environment for investors. One of the key reasons why investors recognize our country as a quality investment destination is the availibility of an educated and high quality workforce at competitive labor prices. We are aware that our people are our strongest resourse and most significant advantage. Our program EUROPE NOW is going to make investors and workers more satisifed in the future. Taxes will be lower, and net salaries higher. What have we done? Well, we have increased the minimum monthly salary from EUR 222 to EUR 250 for a start, and now we are aiming for 450 euros per month, but alongside tax reform. The state will take over the cost of health care and leave room for employers to provide better conditions to their

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workers. Therefore, the level of taxes and contributions on salaries will be reduced from 39% to 21%. We did this because of our citizens, especially our young people, whose future cannot wait. We wanted to send them a clear message, and that is that the state is thinking of them and that we will fight with all our might to create competitive living conditions for them. Certainly, our results are a strong indicator and proof of our statements – we achieved a budget surplus in June and July this year, and the highest ever surplus for the month of August. Alongside all the above-mentioned reasons for investing in our country, there are others that are already well-known: • Our favorable tax system with one of the lowest corporate income tax rates in Europe at just 9%, with personal income tax on all salaries of 9%, as well as VAT at a standard rate of 21%, while the reduced rate is just 7%, as well as offering a zero VAT rate on certain goods • Our excellent strategic position - The perfect point on the map for companies exporting their products and services to the EU, Southeast Europe and the Middle East. The fact that we offer the possibility of transport by land, air (via two airports) and sea (through the Port of Bar) guarantees unique access to markets, with added value provided by the Free Zone of the Port of Bar because the delivery of products within the free zone and customs warehouses is not subject to the payment of customs duties and value added tax, in accordance with the Law on Free Economic Zones. • Market access - Although Montenegro is a small market, through our various Free Trade Agreements with the EU (SAA), EFTA, Turkey, Russia and Ukraine, Montenegrin companies have an access to a total market of 800 million people • We offer simple registration of companies with a minimum capital of just 1 EUR and the option of registering companies online with reduced costs and significantly simplified procedures • A Business-friendly legislative framework which the government of Montenegro is continuously improving in partnership with the community of foreign and domestic investors. The Law on Foreign Investments guarantees so-called national treatment for foreign investors, who thus have exactly the same status as domestic investors. Moreover, Montenegro has signed 44 agreements on double taxation avoidance, as well as 27 bilateral agreements on investment protection (BITs). Regarding the investment potential of Montenegro, a significant focus of of development policies over the medium term will be on economic diversification and sustainable development, which will THE COLLECTION


Photo courtesy of Ranko Maraš

reduce the high negative external position of the country, by compensating in part for our significant import dependence through own production, especially in agriculture and energy, as well as by improving competitiveness and offering a greater degree of supply in the manufacturing sector, which will contribute to the over all better export performance of the domestic economy. Development sectors that are recognized as key in terms of their potential and ability to attract foreign investment, with the exception of tourism, include: • Energy - Due to the fact that Montenegro has significant potential for new projects in the field of renewable energy, the energy sector is one of the most promising industrial sectors in Montenegro (notably in terms of wind farms, small hydropower plants, solar energy, oil and gas exploration and so on). There is a growing interest in leasing state land to build solar power plants. In these cases, when the investor is interested in building a solar power plant in a certain area, a public tender for the lease of state land can be organized. The Law on VAT prescribes exemption from VAT on the supply of products and services for the construction and equipping of any energy facility for the production of electricity with an installed capacity of more than 10 MW. • The wood industry is an important segment of the Montenegrin economy and its development is based on the use of local natural resources and it is traditionally export-oriented. Unfortunately, so far we have exported raw materials or semi-finished products, while the average annual import of furniture was valued at about 60 million euros, which means that there is a significant domestic market and clear demand for these products. Our raw material resources and capacities represent a good basis for a much higher level of production, as well as a significant share of total GDP, exports and employment. In addition, Montenegro offers cooperation with local companies in the furniture production sector that have the equipment and knowledge to produce high quality furniture, whereby through this type of cooperation, your operating costs will be reduced. • The ICT sector is recognized as one of the new development sectors in the country, and as a fast growing market, Montenegro is becoming the location of the next wave of IT services. The turnover of the IT sector and business services reached € 56.3 million in 2020. Members of the ICT cluster achieved revenue growth of 25%, of which 79.12% of revenue was due to exports - a total of € 12.2 million. • The metal processing industry is the most important sector of Montenegrin domestic production. It includes the production of primary metals and metal products (non-ferrous metals, steel and iron), and the aluminum sector by itself is the largest export sector by value in Montenegro. The availability of raw materials, skilled labor, potential locations, support programmes and short supply chains all represents a great basis for the development of the automotive sector in Montenegro. • As the first ecological state in the world, Montenegro has the potential to grow in this area even further, given its unspoiled nature, clean water and inexhaustible land resources. Organic agriculture is being developed and the number of organic food producers is constantly increasing. Organic agriculture represents a system of sustainable agriculture which is based on local resources and, as such, minimizes negative effects on the environment. In this area, there are many opportunities for investment in the production of unique and traditional products that could be marketed for consumption in tourism. EXPO 2020 DUBAI SPECIAL EDITION

There is already demand from both locals and tourists who come from all over the world for organic and healthy food originating from Montenegro. Therefore, agriculture represents a very promising and rewarding sector for investment. Montenegro is a country rich in various sources of drinking water, which are of great quality. At the moment there are seven facilities for the production of mineral water in the country, but still, imports of drinking water are quite high, while exports of water are quite low. A small percentage, only 17% of the water resources, in Montenegro are currently being used. Considering that water is expected to become one of the most valuable liquids (even compared with oil) this is one of the sectors with the potential for great commercialization and monetization. One of the stimulating measures for development is defined by the Decree on Business Zones. Business zones have been declared by eight local governments in Montenegro, so investors have the opportunity to invest under favorable conditions in Berane, Bijelo Polje, Kolasin, Mojkovac, Niksic, Cetinje, Ulcinj and Podgorica. These local self-governments offer a range of defined business incentives related to: • the payment of utility costs or other fees; • favorable prices for renting / purchasing land within the business zone; • reductions or exemptions from the payment of surtaxes on personal income tax; • reductions in the real estate tax rate; • the provision of infrastructure equipment in areas where it does not exist. It is very important to point out that the use of incentives at the local level does not exclude the possibility of also using incentives at the state level. There are two categories of Business zones: Business Zones of Strategic Importance which are managed by a company founded by the national government and Business Zones of Local Importance which are managed by a manager appointed by the mayor or the company founded by the local government unit. The business zone user does not pay contributions for compulsory social insurance on earnings (contributions related to pensions and disability insurance, health insurance contributions, and contributions related to unemployment insurance), the contribution to the Labor Fund, as well as tax on personal income. Any business zone user may enjoy additional benefits, such as: favorable prices of land lease/purchase, exemptions from or reductions in utility fees and fees for the provision of utility connections, reduced tax rates on real estate, and exemption from surcharges on personal income. Right now, Montenegro is the leader in the economic stabilization of the Western Balkan region, which is a good sign that we are on the right track. Recently, too, certain bilateral meetings and visits have shown that it is a right time to invest in Montenegro. My recent visit to Japan showed that our country is attractive to them and guided by the example of the Daido factory in Kotor, we expect soon to conclude agreements guaranteeing a billion euros worth of Japanese investment. And that is only one partner, not to mention the EU’s investment package plan for the Western Balkan worth 9 billion euros. We will continue to develop our country, to take care of our people and invest in them, and investors in our country will find our doors open to sustainable, long-term investment in an exciting range of areas.

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"Right now, Montenegro is the leader in the economic stabilization of the Western Balkan region, which is a good sign that we are on the right track. Recently, too, certain bilateral meetings and visits have shown that it is a right time to invest in Montenegro." Photo courtesy of Ranko Maraš

For more information regarding business and investment opportunities, please visit: Montenegrin Investment Agency www.mia.gov.me mia@mia.gov.me


THE ART OF

+382 67 310 006 | info@sothebysrealty.me www.sothebysrealty.me


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PORTO MONTENEGRO Montenegrin Marvel

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Long celebrated for its magnificent landscape and UNESCOprotected towns, the Bay of Kotor is now increasingly recognised as a luxury destination, thanks to the marina of Porto Montenegro and its surrounding village.

Designed for living a life less ordinary, Porto Montenegro is one of Europe’s best-kept secrets. Set in the spectacular Bay of Kotor, with its own deep-water superyacht marina and an international airport nearby, this beautiful waterfront village continues to set new standards of living in the Adriatic.

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ong celebrated for its magnificent landscape and UNESCO-protected towns, the Bay of Kotor is now increasingly recognised as a luxury destination, thanks to the marina of Porto Montenegro and its surrounding village. With world-class facilities, including the five-star Regent hotel and premium residences, as well as an international fashion and dining scene – not to mention 280 days of sunshine a year – Porto Montenegro is an outstanding Mediterranean destination. And it’s less than six hours’ flight from the UAE. While attracting significant pent-up demand after 18 months of limited travel – with close to 70 percent of the number of visitors in the same period of 2019 – this Adriatic beauty spot remains peaceful and uncrowded, a best-kept secret for those in the know. Exuding a sophisticated yet relaxed style, Porto Montenegro’s residential village currently comprises some 350 luxurious apartments – with a limited number still available to buy – a dynamic and varied mix of boutiques, cafes and restaurants; a state-ofthe-art marina with 450 berths catering to yachts from 12m to 250m; and a yacht club with one of the most glamorous pools in Europe.

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A wholly owned subsidiary of the Investment Corporation of Dubai (ICD), Porto Montenegro is steadily expanding, according to a well-considered master plan. Currently under construction, the new urban-style neighbourhood of Boka Place will introduce 213 managed and private residences alongside SIRO, an immersive hospitality and lifestyle experience from Kerzner International (Atlantis and One&Only Resorts).

MOVING TO MONTENEGRO FOR A LIFE LESS ORDINARY

Designed for year-round living, Porto Montenegro is an ideal base for business people and digital nomads who want to work remotely in Europe, as well as entrepreneurs wishing to establish new ventures. Portonians, as the village’s inhabitants are known, can start their working day on the marina waterfront with their computers on their laps, can host a board meeting on a jetty or a team day on a yacht, and swap their rush-hour commute with a stroll through the marina or a buggy ride to their desk. Porto Montenegro offers excellent connectivity and a range of purpose-built business amenities each with its own distinct style. Aimed at those seeking a premium office experience, Ozana Business Club overlooks Superyacht Jetty 1 in the heart of the village. In a quiet location set back from the water, Arsenal Business Club offers white-box offices that tenants can furnish as they wish, while the nearby Innovation Centre Co-working Office is an openplan space ideal for start-ups and freelancers.

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Against a backdrop of azure seas and spectacular mountains, with fresh air, sunshine and a high level of security, living and working in Porto Montenegro offers unparalleled lifestyle and financial opportunities. During their time off work, residents can make the most of Boka Bay’s calm and clear waters, hike in the wooded mountains that are right on the doorstep or travel a little further afield and explore Montenegro’s 295km of coastline and magnificent inland wilderness areas. Among the fiscal benefits of living and working in Montenegro are the lowest personal, corporate and capital gains tax rates in Europe, Euro-based currency, free trade zones where firms are exempt from paying VAT and customs duties, and avoidance of double taxation due to treaties with over 40 countries. There are no restrictions on foreign currency exchange or transfer of profits abroad. It is a solid base for both large and small businesses, as well as a trending destination for entrepreneurs, with simple company registration requiring just 1 Euro founding capital and minimal paperwork. Most significantly, it is only two or three hours’ flight from most European capitals.

proud to have sold more than 350 apartments. With such a successful track record, the development has become an investment destination in its own right. The first neighbourhood within the development to celebrate completion was South Village, followed by the Regent Pool Club Residences’ two luxurious wings, Aqua and Baia, which offer all the benefits of the five-star hotel’s services, and then the contemporary-style Elena Residences. 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. 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.

LUXURIOUS WATERFRONT RESIDENCES

EXCEPTIONAL INVESTMENT OPPORTUNITIES

SOUTH VILLAGE Intimate in scale, with great charm and character, the South Village replicates a traditional Montenegrin town, with pedestrian-only streets woven between the individually-designed buildings – none of which is greater than five storeys high. The design combines elements of the Montenegrin vernacular with contemporary Mediterranean features – colourful facades complemented by richly planted ‘hanging gardens’ and shaded terraces. The result is an innovative, low-rise development that remains sympathetic to the Venetian and Ottoman herit-

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According to the latest figures, property prices in coastal areas of Montenegro increased by 21 per cent per square metre between 2017 and 2019, while Porto Montenegro enjoyed a 62 per cent increase in price per square metre between 2009 and 2019 and is

Exuding a sophisticated yet relaxed style, Porto Montenegro’s residential village currently comprises some 350 luxurious apartments – with a limited number still available to buy – a dynamic and varied mix of boutiques, cafes and restaurants; a state-ofthe-art marina with 450 berths catering to yachts from 12m to 250m; and a yacht club with one of the most glamorous pools in Europe.


Directly overlooking the marina and comprising two buildings, Aqua and Baia, the Regent Pool Club Residences are located alongside the 5-star Regent Porto Montenegro Hotel in the centre of the development.

age of the local architecture while offering all of the comfort and convenience of modern living. AQUA, BAIA AND ELENA Directly overlooking the marina and comprising two buildings, Aqua and Baia, the Regent Pool Club Residences are located alongside the 5-star Regent Porto Montenegro Hotel in the centre of the development. With units of one to three-bedrooms, the sleek, contemporary style of the architecture is complemented by interior design inspired by the Italian Riviera. As well as benefiting from the full five-star services of the hotel, residents also enjoy complementary membership of Porto Montenegro Yacht Club. Owners also benefit from the access to The Regent’s rental pool programme – providing an ideal platform for investment. Positioned on the village’s central boulevard, with attractive on-site retail and dining amenities, Elena Residences is an elegant new addition to the Porto Montenegro collection. Named in honour of Elena di Savoia, a Montenegrin princess born in the royal capital of Cetinje in 1871, the 50 ready-to-move-in residences offer contemporary design and relaxed waterfront living. Featuring studio, one-, two- and three-bedroom configurations, with sea and mountain views, Elena Residences offers myriad community amenities, such as 24hr concierge, residentsonly pool and gym, an exclusive owners’ club and access to the M Residences Bespoke Rental & Servicing Solution. With just a limited number of units still available for purchase, this diversified offering of waterfront homes is designed to appeal to a wide range of cli-

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ents, from boat owners to local and foreign buyers – whether they envisage taking up year-round residence, or simply seek a solid investment.

BOKA PLACE

Boka Place is a gateway to Porto Montenegro’s laid-back elegance and is positioned to become one of the most sought-after locations in the Bay of Kotor, offering relaxed urban-style living and a sense of privacy within robust infrastructure. Due to be completed in 2023, this lively, top-of-the-line neighbourhood has been designed for year-round living, with a focus on wellbeing and fitness. Residents will benefit from invitation-only events and exciting summer clubs for children, among other privileges. With high-quality retail outlets, extravagant eateries and a new flagship SIRO hotel, 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 (CBIP) – 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 60 per cent of the THE COLLECTION


With high-quality retail outlets, extravagant eateries and a new flagship SIRO hotel, Boka Place will feature a total of 213 residences, including studios, one-, two-, and threebedroom 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.

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A leading homeport in the Mediterranean, a TYHA Platinum Marina Award winner, Porto Montenegro is the first marina ever to hold the 5 Gold Anchor Platinum accreditation, and the vibrant marina community is an important foundation-stone of the residential village and its continuing development.

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. With its distinctive style and privileged position, Boka Place offers exceptional lifestyle benefits, as well as presenting an excellent investment opportunity in terms of both capital appreciation and the option of a well-established and proven rental management programme.

THE WORLD'S FIRST PLATINUM MARINA

Porto Montenegro first gained global recognition thanks to its world-class superyacht marina, which has been designed to cater to the advanced needs of all yachts, their owners, guests and crew – with specific infrastructure for the largest yachts afloat. A leading homeport in the Mediterranean, a TYHA Platinum Marina Award winner, Porto Montenegro is the first marina ever to hold the 5 Gold Anchor Platinum accreditation, and the vibrant marina community is an important foundation-stone of the residential village and its continuing development. With the latest accolade ACREW World’s Best Superyacht Marina as voted by captains and crew

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worldwide marina keeps its premium position in the superyacht industry. The core focus since day one – an impeccable customer service remains crucial in the ongoing marina development and is widely recognised and acknowledged by clients. Perfectly situated for access to the exciting cruising grounds of the Adriatic and Eastern Mediterranean, Porto Montenegro's setting in the Bay of Kotor makes it an ideal base to set sail on varied itineraries, or just to sit back and enjoy the wild beauty of the scenery. With flexible berthing packages and tax-free fuel among its many benefits, the marina offers state-ofthe-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.

A LIFE EXTRAORDINARY

Life in Porto Montenegro is not just about superyachts and exciting new developments; 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. www.portomontenegro.com sales@portomontenegro.com THE COLLECTION


Life in Porto Montenegro is not just about superyachts and exciting new developments; it’s about character and essence – both of which come in abundance in this exceptional waterside community and the surrounding area of Kotor Bay.

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w w w. a s t o r i a m o n t e n e g ro . c o m

Astoria Budva

The magic of the open sea and rocky mountains The story of the magical connection between the sea and the mountains in Montenegro has been known from centuries, but nowhere can you experience this beauty better than from the terrace of our hotel’s exclusive restaurant in Budva.

Astoria Kotor

Gulf’s secret In the Bucchia family’s 14th century palace – nestled in Kotor’s cosy Old Town – you’ll encounter legends, among which are our remarkable cuisine, our never – before – seen interior design, and our comfortably designed rooms of the highest quality.

Hotel Hemera

A rhapsody for the senses At the home of the Greek goddess Hemera, let your senses guide you. Astoria’s offer will satisfy even the pickiest guests’ sense of taste and smell. As you relax we invite you to enjoy the magnificent interior design and elite comfort of our boutique hotel.

Astoria Lux

The pearl of the continent When you want superior choice of food and a perfect service in Podgorica, Montenegro, capital, only sensible choice is Astoria Lux. We created exclusive choice of food and drinks like dry aged meat, imported from France, cheese from Italy and Greece, first class fish and a wide selection of fine wines.

Astoria Tivat

The harbour of delight Astoria Tivat is located right on the shore. Here you will have the satisfaction of savouring your morning cup of coffee your afternoon glass of wine, and the restaurants’ delicious seafood specialties, all while enjoying splendid views over the harbour.



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LUŠTICA BAY A Place to Belong

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Come rain or come shine, whatever the season, Luštica Bay is blessed with beautiful weather and something to do any time of the year. The architecture is a true resemblance to Montenegrin heritage...

A TRUE GEM OF THE ADRIATIC COAST

SUSTAINABLE ARCHITECTURE THAT BLENDS BEAUTIFULLY WITH Located in the heart of the MediterraTHE NATURAL LANDSCAPE

nean, specifically in UNESCO’s protected Bay of Kotor, Luštica Bay has become an all-year-round coastal hometown with an offering for every lifestyle. The €1.1bn destination is part of the stunning Luštica Peninsula; stretched along 7km of the Adriatic coastline with a spread of over 20 mindblowingly beautiful beaches. Its convenient proximity to nearby airports in Podgorica, Tivat and Dubrovnik make Luštica Bay easily accessible from around the world, and simply unmissable.

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ome rain or come shine, whatever the season, Luštica Bay is blessed with beautiful weather and something to do any time of the year. The architecture is a true resemblance to Montenegrin heritage; with regionally sourced materials and an ode to its surrounding raw beauty, the town’s homes are an aesthetic extension of the country’s geography. Built with the intention to connect communities and provide functional living with limitless views all around, Luštica Bay is a home to always come back to and a place to truly belong.

The coastal town covers the surface of 690 hectares, with only 10% being developed by Orascom Development Holding into the fully-integrated town it is continuously growing into, while preserving the archaeological sites and protecting the indigenous landscape with minimal meddling with its natural vegetation. The remaining parts of the land will be untouched as the development delivers on its promise to maintain the authenticity of what makes Luštica Bay what it is today – a home amidst natural beauty and an extension to nature’s work of art. Luštica Bay’s sustainable architecture narrates the raw beauty, culture, and heritage of Montenegro. Reflected in all its designs, every aspect of the town is deeply rooted in the land and culture to which it belongs making it a harmonious blend with the glorious nature it’s nestled in. Over 1,500 soft-hued stone residences, seven hotels, a golf course not to miss, two marinas with up to 225 berths, diverse residential neighbourhoods bustling with life, restaurants and bars with exquisite gastronomic offerings - the town becomes a timeless pulse of the peninsula’s geography.

A HOME FOR EVERYONE, IN A MAGICAL SETTING

Luštica Bay is developed in respect to different lifestyles thus offering homes for every way of life. As it cultivates the art of living and connects communities with the nature they are surrounded by, the

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The Chedi Luštica Bay Hotel, named the no. 1 five-star hotel in Montenegro, is situated in the Marina promenade with direct access to a private sandy beach and the charming Rock Beach Bar. The Chedi Luštica Bay is part of the ‘Leading Hotel of the World’ network and with an award-winning design. EXPO 2020 DUBAI SPECIAL EDITION

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The Marina Village properties have 255 apartments with cutting-edge amenities up to 153m2, five fully uniquely personalized villas up to 400m2, and six Townhouses with 16 residential units up to 190m2.

residential spaces boast different features, from waterfront apartments, centrally located townhouses and private villas, to golf residences built around the first professional golf course in Montenegro. This is the perfect destination to choose for an ideal holiday home, a secluded business getaway, a smart rental opportunity or a permanent home and a new beginning for life as it should be. The Marina Residences The Marina Residences is part of the first development phase of Luštica Bay with the Marina Village being the first to open in 2018. Set on the waterfront, a stretch of beautiful houses and apartments amidst lush greenery meets a lively promenade bustling with restaurants, bars, cafés, boutiques, the five-star Chedi Hotel, the marina and a stunning lighthouse overlooking the bay. The outdoor amphitheatre is a melting pot of culture and performing arts with a hefty calendar of events happening all-year-round including concerts, photography and painting exhibitions, theatre performances, and different art gatherings. The Marina Village properties have 255 apartments with cutting-edge amenities up to 153m2, five fully uniquely personalized villas up to 400m2, and six Townhouses with 16 residential units up to 190m2. Centrale is the life and soul of the community in Luštica Bay; it is the centre of gatherings bringing together residential and commercial zones with a range of public spaces making the most out of outdoor living and the vibrant community life. Full of lively restaurants and bars stretched over wide alleys, adjacent to open parks and a tennis court, Centrale hosts a weekly farmers’ market and regular commu-

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nity events at its central piazza. A medical centre, school, bank, fire service, sports centre, and more commercial, cultural and communal facilities are being developed as the community grows. The Centrale properties include four residential buildings with 58 apartments, up to 110m2. Golf Residences is the newest addition to the town; a true oasis for golf lovers, this exclusive complex covers a surface of 4 000,000 m2 where a superb professional golf course will be surrounded by residences uniquely intertwined with the beauty of the natural landscape. The Golf Residences make a total of 900 residential units, in a mix of villas, semidetached villas and apartments of varying densities meticulously designed to complement the mindset of those who live for Golf. Residents will have instant access to Luštica Bay’s Gary Player's signature 18-hole golf course. With the Golf Village situated at the summit of the town’s hillside, extending extraordinary panoramic views down to both sides of the peninsula, the sustainable eco-friendly golf community promotes living at one with nature. Set to be minimal contemporary homes with finesse and ultimate privacy, this low-density complex allows for the nature to be one of its key aesthetics with respect to its local biodiversity.

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GOLF AS A WAY OF LIFE IN LUŠTICA BAY

Within the Golf Residences, Luštica Bay is developing Montenegro’s first 18-hole championship Gary Player designed golf course. Luštica Bay is among a few golfers’ destinations in the world that has a seaside view from every hole, with a breathtaking panorama over the Bays of Trašte and Kotor. The golf course will have one prime hole position, situated on an elevated terrain over the Luštica peninsula, while some of the golf holes face both sides of the bay.

HOSPITALITY REDEFINED

The Chedi Luštica Bay Hotel, named the no. 1 five-star hotel in Montenegro, is situated in the Marina promenade with direct access to a private sandy beach and the charming Rock Beach Bar. The Chedi Luštica Bay is part of the ‘Leading Hotel of the World’ network and with an award-winning design; it is home to two restaurants with eclectic international cuisine, three bars, an event centre and ballroom. It also offers a selection of refined boutiques and retail shops, a wellness and fitness area with a heated indoor pool and an infinity outdoor pool, spa centre and a sunbathing area. The Chedi Hotel offers a total of 111 rooms/suites on the seashore all tucked away in jaw-dropping greenery. The Chedi Residences are a total of 60 condominium apartments on offer throughout the year. The finest collection of five-star branded residences are available as one and two-bed suites, smartly furnished and fully equipped to the exquisite standard, EXPO 2020 DUBAI SPECIAL EDITION

with contemporary interiors designed by GG & Grace. In addition to the exclusive five-star The Chedi Luštica Bay Hotel, the town will also include seven world-class hotels, ranging from five-star luxury Marina Village to boutique hotels.

RENTAL OPPORTUNITIES AVAILABLE IN A FLEXIBLE SCHEDULE

Luštica Bay’s Rental Brokerage Programme provides homeowners with an income potential and return on investment, in a community that lives and brings joy to its guests and residents all-year-round. The programme is highly flexible and gives the opportunity for homeowners to use their apartment whenever they wish, or benefit from the property investment at other times by having complete management, maintenance and rental services fully handled on their behalf.

GASTRONOMIC PLEASURES ALL YEAR LONG

Luštica Bay provides a wide range of gastronomic offering, from The Chedi restaurant, voted best amongst 650 nominees in the World Luxury Restaurant Awards in 2020, to cosy family-run bars and restaurants along the waterfront and across other parts of town. A medley of all tastes in a festival of flavours is guaranteed all year long. The Chedi Hotel’s Spot bar and restaurant makes the perfect choice for a cup of coffee complimented with light bites and an incredible Seaview, with a

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Within the Golf Residences, Luštica Bay is developing Montenegro’s first 18-hole championship Gary Player designed golf course. Luštica Bay is among a few golfers’ destinations in the world that has a seaside view from every hole, with a breath-taking panorama over the Bays of Trašte and Kotor.


The team at Luštica Bay makes sure the year is filled with activities and events to cater to the feel of every holiday type you choose, from art and culture, wellness and sports, to absolute relaxation and party nights.

menu of local delicacies and specialties from the international culinary map. Kiki's by Luštica Bay, situated on the Marina promenade, is an ideal setting for a delicious sunset dining experience. It offers a fascinating wine list and a selection of Mediterranean cuisine and national Montenegrin dishes, served with culinary mastery gained within the restaurant franchise in resorts run by the Orascom Development Holding. If you are looking for Italian flavours, Villa Cesare and Tony's Bar is the place to choose. The dashing new spot in the Marina has a fine selection of the best local and international wines, signature cocktails, and an assorted menu of specialties served in a typical Italian-like ambience. A laid-back atmosphere makes 21 Bistro Sea View quite a unique bar in the Marina. Freshly brewed coffee, refreshing juices, a medley of tea and scones, pastries, and finger sandwiches will give your day the zest it may need. The bar is expanded with the newly opened Ciao Bella Gelateria cream corner, with a delicious assortment of Italian home-made ice-creams and pastries irresistible for anyone with a sweet tooth. Having a cosy lunch or a romantic dinner in the Lighthouse, with the sounds of the crashing waves and incredible sea view, will most certainly create a memorable experience. The Lighthouse restaurant, situated across the Marina, has an exceptional 360-degree view of the sea and the entire Luštica Bay town. It is run by a local family with long-standing experience, offering a charming atmosphere, a fine selection of beers and wines, and favourite local specialties.

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During the summer season, Luštica Bay’s cooking classes should be on the bucket list of every cooking enthusiast; Every Monday, the chefs are ready to share some of their tips and tricks for you to take back to your kitchen.

BEAUTIFUL BEACHES, AND BEYOND.

Apart from the three main beaches at Luštica Bay – The Chedi Hotel Beach, the Almara Beach, and 21 Beach Club – 20 other stunning beaches are stretched along seven kilometres of the Luštica peninsula coastline, from large sandy beaches to small pebble bays and quiet coves, such as Pržno, Maslina, or Žanjice beach. The private beach of The Chedi Luštica Bay is exclusive to hotel guests and property owners. It offers comfortable sun loungers and umbrellas, and selected refreshments from its charming Rock Beach Bar. It is also the only 5-star hotel-operated beach giving you the chance to simply be pampered and have a worry-free serviced day by the seashore. The famous Almara Beach, one of the most beautiful beaches in Montenegro with a blue flag, offers a space for 200 sunbeds overlooking the bay. A young trendsetters favourite, Almara is the most desirable place to relax in comfortable loungers, with special cocktails in the beach bar and eclectic specialties of modern world cuisine of the Almara Club restaurant. In an ambience that spreads over four floors, the atmosphere gets groovy with a line-up of famous stars of the world DJ scene. Sailors, divers, paddlers, and all who enjoy water activities can head over to the Marina Beach, where THE COLLECTION


adventurers will spend hours on the waves of the Adriatic. The 21 Beach Club, located in Vela Spilja, is surrounded by rocks and crystal-clear water and makes a beautiful refuge for a perfectly peaceful and pleasant day at the seaside. Whatever your bliss and beach mood, you can always spot seagulls cruising the sky or dolphins at the horizon of the Trašte Bay. Mystic sunsets are definitely not to be missed while in Luštica Bay.

RELAX OR EMBARK ON AN ADVENTURE, COME WHAT MAY.

Luštica Bay is an escapade for whatever the heart desires, with relaxing holidays and adventure thrills satisfying every wish. Snorkelling and free or scuba diving, sailing, speed boating, canyoning, island hopping, and chilled stand-up paddling – take your pick as you get lost in the Adriatic Sea and all it offers. One can embark on hiking and biking trails that are some of the most sought after in the region; or simply daydream as they walk the pedestrian paths in town. Mountaineering and skiing are also available in the nearby ski resort of Žabljak. If you’re in for a holiday shopping spree, make your way to some of Luštica Bay’s boutiques holding a number of Montenegro’s homegrown designers and world beloved brands.

AN EVENTS CALENDAR WITH SOMETHING FOR ALL MOODS AND AGES

The team at Luštica Bay makes sure the year is filled with activities and events to cater to the feel of every holiday type you choose, from art and culture, wellness and sports, to absolute relaxation and party nights. Never forgotten, the younger crowds will also always have an agenda crafted just for them. One of the art collaborations we have been working on is Luštica Bay Art colony; this is where painters and sculptors create their work with nature’s pallet being their muse. The event is a joint effort with the local Faculty of Fine Arts in Cetinje and has been taking place since 2018. Pop concerts and jazz festivals, Operosa Montenegro Opera Festival, the all new Luštica Bay Light Festival – are a few of the favourited performing art shows that are now synonymous with Luštica Bay’s year-round fun for all. Luštica Bay has also become a new hub for sailing competitions with sailing enthusiasts competing in the fascinating waters of the bays of Trašte and Luštica Bay. International sports events continue to be on the agenda with the first international cycling road race Adriatic Luštica Bay Montenegro Race 2021 being just a kick-off. Daily kids’ activities encouraging creativity and learning through play, golf lessons, movie nights, and star gazing, cooking workshops for adults, cookie and pizza making classes for the young ones, are some of the activities you will always find in our calendar.

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NEW SPOT FOR DIGITAL NOMADS

Thanks to the digital transformation, everyday offers a myriad of opportunities for gaining new experiences in all parts of the world for the adventurers and explorers of the new age - the digital nomads. If you work online, all you have to do is pick up Luštica Bay as your new destination and set up your dream home here, work remotely, and enjoy privileges of a healthy environment in limitless raw beauty, while taking advantage of benefits of an urban modern habitat on the seafront. Luštica Bay is becoming a destination that offers just the perfect package for having a splendour of nature as your office - as a resort destination that already embodies the have-it-all lifestyle 365 days a year with its "Stay, Work, Play at Luštica Bay" motto. The Chedi Luštica Bay and Luštica Bay Apartments both offer a truly unique experience within this concept.

Luštica Bay is located close to some of the World Heritage Sites, including the Bay of Kotor, the Lake Skadar as the largest lake in Southern Europe, as well as the Solila nature reserve in Tivat which was proclaimed one of the top sustainable destinations in the world by the Green Destinations foundation in 2020.

SIGHTS OF INTEREST

Luštica Bay is located close to some of the World Heritage Sites, including the Bay of Kotor, the Lake Skadar as the largest lake in Southern Europe, as well as the Solila nature reserve in Tivat which was proclaimed one of the top sustainable destinations in the world by the Green Destinations foundation in 2020. The glorious Tara Canyon - the second deepest canyon in the world, as well as the stunning Durmitor National Park, are just a three-hour ride from Luštica Bay.

ORASCOM DEVELOPMENT - A LEADER IN INTEGRATED DESTINATIONS

Luštica Bay is a development by Swiss-based Orascom Development Holding AG, a leading developer of fully integrated destinations and communities in diverse international locations. Orascom Development Holding has a breadth of 30 years of experience in developing new towns and creating truly self-sufficient, international communities, currently built in nine countries across three continents: Egypt, UAE, Oman, Morocco, Switzerland and Montenegro. Additional projects in other seven countries are underway and in the pipeline of their growing portfolio. Orascom pursues a cohesive approach to largescale town developments across the globe, ensuring that projects bring tangible benefits to the existing landscape and to the local community. A commitment to protecting the existing landscape and respecting the local customs, interests and cultural heritage of the local community makes each Orascom story come to life. The group operates a total of 35 hotels, 53% of which are managed by Orascom Hotel Management, and it controls approximately 100.3 million sqm of land, with 18,000 employees. E : info@lusticabay.com T : +382 77 200 100 www.lusticabay.com

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Luštica Bay is a development by Swiss-based Orascom Development Holding AG, a leading developer of fully integrated destinations and communities in diverse international locations. The group operates a total of 35 hotels, 53% of which are managed by Orascom Hotel Management, and it controls approximately 100.3 million sqm of land, with 18,000 employees.


HERCEG NOVI DISCOVER THE PRISTINE GEM OF THE MEDITERRANEAN

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he entrance to one of the most remarkable bays in the world, Bay of Boka Kotorska (Boka Bay), positioned at the foot of Mount Orjen, is a place of remarkable natural beauty, characterised by a unique love affair between the mountains and the sea, impressive cultural and historical heritage, warm hospitality, and is home to Herceg Novi. Herceg Novi offers picturesque beaches, tame intact hidden coves, a striking mountain that will take your breath away, medieval landmarks including fortresses, sets of stairs and narrow streets, ancient villages protected by the karst hilltops, and charming fishing settlements. A richness of flavours awaits, together with the charm and hospitality of the Mediterranean. This hard-to-resist experience allows you to spend your morning mountaineering, paragliding, hiking, mountain bike riding or visiting an adventure park, whereas in the afternoon you can try out sea activities, such as sailing, diving, kayaking, swimming, and fishing, all during the same day. Few places around the world can offer two sets of so specific thrills in one day – sea and mountain adventures – like Herceg Novi. The cultural, artistic and historical heritage of Herceg Novi is priceless. The fortresses Kanli Kula, Clock Tower, Forte Mare and Spanjola are perfect proof of this. Once guardians of the Adriatic, today they are the witnesses of turbulent history, striking architectural monuments and venues for various cultural events that the town is renowned for. Herceg Novi also has a very specific microclimate, owing to which it has become the perfect tourist-health centre. The Institute “Dr Simo Milošević” in Igalo is the only Institute for Physical Medicine, Rehabilitaiton and Rheumatology in Montenegro and is among the largest and most recognisable institutions on the Mediterranean. They were the pioneers of modern physical and preventive medicine, rehabilitation, thalassotherapy and medical wellness, and have become one of the main international centres for the rehabilitation of children, adults and older persons. Considering that the town enjoys an average of 200 days of sunshine annually, seasonality in tourism is no longer as marked as it used to be, meaning that the remarkable hotel and apartment capacities offer a pleasant stay for even the most demanding guests throughout the whole year. The sublime and timeless splendour of Herceg Novi is complimented by the hospitality of the hosts, who give their best to make sure that the guests leave with only the finest of memories.

Lazure Hotel & Marina

Herceg Novi is also the town of festivals and attracts different creators and audiences from all over the world. This town has for more than 50 years been home to the oldest and most important tourist manifestation in Montenegro – the Mimosa Festival. This festival and its carnival attract thousands of visitors from the region and Europe. Herceg Novi is also home to a renowned regional film festival, and to festivals dedicated to guitar music, comics, books, opera, jazz, and many more, and the town comes alive during such events. All of the above makes Herceg Novi a town attractive for investors. The local administration is focused on creating a favourable business environment, and is open to cooperation with potential investors. Owing to its transparent relationship with the investors and realistic local economic policy, Herceg Novi has managed to attract some of the most important investors in the tourism sector in Montenegro. This is evidenced by the existence of projects such as Portonovi and the Lazure Marina and Hotel, to name a few. The fact that investors chose Herceg Novi as the site for the first One&Only hotel in Europe coupled with the announced arrival of other world-famous hotel brands clearly confirms that this town is among the most attractive locations for investments in hospitality industry and development of tourism not only in Montenegro. By the adoption of the Strategic Plan for the Development of the Municipality by 2027 and by the development of Spatial-Urban Plan and Investment Map, this year Herceg Novi commenced the greatest investment cycle since the town was founded. Investors have the opportunity to quickly obtain the necessary permits and are given a short deadline to start the construction. Also, the capacities and efficiency of the local administration were strengthened in order to provide maximum assistance and support. This is how the Municipality of Herceg Novi, with concrete activities and practices, is sending a clear invitation to domestic and foreign investors to take part in the joint development success story. Investment opportunities nenad.vitomirovic@hercegnovi.me Herceg Novi Tourist Board www.hercegnovi.travel/en

Portonovi Marina & Luxury Residences


HAPPINESS IS ONE FLIGHT AWAY. THE PLEASURE OF FLYING

CHOOSE A DATE AND BOOK YOUR TICKET AT


PORTONOVI

The very best of riviera living in Montenegro’s celebrated Boka Bay

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Capturing the attention and hearts of domestic and international investors alike, Portonovi is spread across 26 hectares, with 1.8km of coastline, interspersed with beautifully manicured gardens, sandy beaches, prominent bronze water features and waterfront promenades.

In the heart of Montenegro’s most soughtafter location, UNESCO World Heritage site Boka Bay, sits Portonovi, an idyllic waterfront village with unrivalled views across the azure Adriatic Sea. Boka Bay, Europe’s southernmost fjord, is considered to be one of the most beautiful inlets in the world. Comprised of mountains, dramatic scenery, fortified towns, and mirror-flat waters, Portonovi could not be located in a more idyllic setting and is certainly the perfect destination for those seeking luxurious tranquillity in one of the world’s most beautiful locations.

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apturing the attention and hearts of domestic and international investors alike, Portonovi is spread across 26 hectares, with 1.8km of coastline, interspersed with beautifully manicured gardens, sandy beaches, prominent bronze water features and waterfront promenades. The village boats an exceptional collection of over 200 residences for sale, including 10 One&Only Private Homes and 50 holiday residences for rent.

RIVIERA LIFESTYLE

A Mediterranean oasis, residents at Portonovi experience the best in Riviera living with a multitude of restaurants, wellness facilities, a beach club, boutique shops, a world class marina and Europe’s first One&Only resort on their doorstep. From gourmet supermarket IDEA, fine dining restaurant Bloom, indulgent gelataria GODO, an

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Art Gallery, a bank, beauty salon, gymnasium and over 30 private swimming pools, residents benefit from an exceptional community offering. At night, Portonovi comes alive. Maison du Monde serves some of the finest French Cognac available, while Koffein which roasts coffee beans during the day transforms into an entertainment lounge with regular live performances from celebrated musicians, all against the stunning backdrop of the bay and mountains. The perfect setting for an evening meal or cocktail. Composed of vibrant cultures and a rich history, Montenegro is a multifaceted melting pot of celebrated local wine, food, beautiful architecture and a vibrant arts and music scene. An all-year destination, Montenegro is perfect for relaxing summers on the beach, hiking through the hills in spring and skiing during winter. Adrenaline seekers can also partake in white water rafting along Europe’s deepest canyon, kayaking, mountain biking, scuba diving, sailing and kitesurfing.

PORTONOVI BEACH CLUB AND MARINA

Beach Club living and the coastal way of life is integral to Montenegro, and those living at Portonovi can take full advantage of the luxurious Beach Club. Here, chic clientele recline on pristine white sunloungers and hammocks perched on the natural sandy beach whilst ordering skilfully mixed cocktails, refreshing juices and delicious light lunches. During the evening, the catch of the day is served with expertly paired local wine while the sun goes down. THE COLLECTION


The luxury maritime offering continues with Portonovi Marina. The only entry port into Montenegro, the vast marina boasts capacity for 238 berths for yachts up to 120m long. Offering a choice of entry points and a sheltered position at the entrance to Boka Bay, the marina serves as an inviting stopoff point and a safe haven for superyachts and those wishing to explore the Mediterranean and the Dalmatian Islands. Naturally, all essential amenities are offered by the Marina, from state-of-the-art showers, laundry, and gas stations. Also unique to patrons is an exclusive Marina Membership Card which offers discounts and rewards at retailers across Portonovi.

INTERNATIONAL ACCESSIBILITY

While the Marina offers a relaxing entry route via the water, no matter where you are in the world Portonovi can be easily accessed. The village is less than an hour drive from international airports Dubrovnik and Tivat, which offer direct flights from Dubai, Germany, the UK and Russia in season and throughout the year connecting flights from the US, Europe, and the Middle East. The resort also has a helipad for those preferring private charter.

SKY VILLAS AND MARINA RESIDENCES

The real estate offering at Portonovi is world class, from the Village Residences which celebrate the heritage of Boka Bay, to the beautiful Marina Residences overlooking the water, to The Sky Villas, the jewel in the crown of Portonovi, each offering is as diverse as it is luxurious.

EXPO 2020 DUBAI SPECIAL EDITION

Just metres from the Marina and close to the central square, Portonovi’s social hub, sit the Marina Residences, two five- storey buildings which epitomise the very best in marine style living. These finely crafted studios, one, two, three and four-bedroom apartments incorporate modern touches while staying true to the surrounding heritage architecture of Herceg Novi. What ultimately brings these residences to life is their connection with water; each balcony and terrace provides vistas towards the sea while inside, natural materials from wood to metal combine to create a sleek yet inviting aesthetic. For investors looking for the ultimate privacy, the striking Sky Villas, three- and four-bedroom duplex penthouses spread across two floors come complete with private elevator access and private 26-32m2 elevated infinity pools. Enjoying an enviable marinafront location, Sky Villas offer spell binding views across the bay from the large outdoor terraces, along with easy access to the area’s bars, restaurants, and boutiques. Priced from €7.95m, each property is unique, serving as a piece of architectural art to offer the highest level of elegance and comfort.

EUROPE’S FIRST ONE&ONLY OFFERING

This year saw the highly anticipated opening of One&Only Portonovi. Europe’s first One&Only outpost, One&Only Portonovi boasts a mix of 113 rooms, along with 10 One&Only Private Homes. Each individual room within the hotel has been designed to maximise the mesmerising views of the surrounding bay, gardens, and mountain. Created exclusively for the ultra-luxury market, One&Only

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The village boats an exceptional collection of over 200 residences for sale, including 10 One&Only Private Homes and 50 holiday residences for rent.


This year saw the highly anticipated opening of One&Only Portonovi. Europe’s first One&Only outpost, One&Only Portonovi boasts a mix of 113 rooms, along with 10 One&Only Private Homes.

is considered as the hallmark of excellence, with every resort offering guests a distinct style and personality, and One&Only Portonovi is of course no different. The opening of One&Only brings with it a multitude of exceptional culinary experiences, all priding themselves on using only the freshest produce from land and sea, creating dishes which make you feel good from within. The broad selection of restaurants each with their unique style, means there truly is something to cater for every palate and occasion: • Restaurant Sabia by renowned Michelin star chef Giorgio Locatell offers a modern menu to be enjoyed on the restaurant’s waterside alfresco terrace • Tapasake Pool Club, a contemporary Asian fusion restaurant and pool club, the beating heart of the One&Only Portonovi resort • Caminetti, a cocktail lounge with views over a Palazzo terrace offers one of the most extensive cocktail menus in Montenegro, expertly designed to complement the variety of Mediterranean tapas dishes available • La Veranda a relaxed restaurant serving authentic Montenegrin cuisine and local delicacies In addition to the multitude of restaurants, residents and indeed guests at Portonovi enjoy access to Chenot Espace, a pioneering health and wellness spa. With a renewed focus placed on health and wellbeing in the last year, the Chenot Espace is one of the most noteworthy, and popular amenities of One&Only Portonovi. The wellness centre offers

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a transformative journey of detoxing and resetting the body based on the renowned and established Chenot Method. Chenot’s pioneering approach to wellness combines the latest scientific advances with the best in Chinese and traditional medicines. Chenot Espace at One&Only Portonovi enables guests to understand what is ageing their body and how to set new pathways to positively improve performance and wellbeing, resulting in increased vitality. Following an initial stage of consultation and advanced diagnostic tests by medical professionals, guests receive a bespoke programme involving nutritional consultations, detox menus, fitness schedules, targeted spa treatments, stress-relieving activities and more. The spa includes hydrotherapy and cryotherapy facilities, sauna, steam room, indoor pool, and relaxation areas. In addition, the year-round resort also offers an Oriental Hamman, a hair salon and the men’s grooming salon, Barber&Blade.

UNLOCK THE ELITE WORLD OF ONE&ONLY PORTONOVI

Perhaps the most unique real estate offering in Portonovi is the exclusive collection of 10 One&Only Portonovi Private Homes. The first ever branded residences in Montenegro, the recently launched, limited-edition Private Homes provide a gateway into the elite world of One&Only. The Private Homes boast exceptional views across a dramatic coastline of mountains and the still, soothing waters. Offering the best of indoor-outdoor living, each of the homes’ exceptional interiors, by leading global design firm Hirsch Bedner Associates (HBA), are complimented by their own individTHE COLLECTION


The Private Homes boast exceptional views across a dramatic coastline of mountains and the still, soothing waters. Offering the best of indooroutdoor living, each of the homes’ exceptional interiors, by leading global design firm Hirsch Bedner Associates (HBA), are complimented by their own individual jetty, swimming pool and private beach.

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ual jetty, swimming pool and private beach. Taking inspiration from Montenegro’s natural beauty scenery, and monastic architecture, HBA have deftly designed One&Only Portonovi to effortlessly celebrate the sweeping vistas of the surrounding Boka Bay. When investing in a One&Only Portonovi Private Home, you will not only have access to enjoy the multitude of amenities within Portonovi itself - including the Chenot Espace Wellness Centre and Sabia – but you also benefit from a network of privileges exclusive to the One&Only lifestyle. From VIP invitations to exclusive events around the world, to priority bookings at the other resorts within the One&Only portfolio, purchasing a One&Only Portonovi Private Home is a rare opportunity to own a slice of the internationally renowned One&Only brand. Ahmet Erentok, Chairman of Azmont Investments, comments: “There are only four other destinations in the world where you can purchase a One&Only Private Home and they truly embody the essence of this ultra- luxury resort. These homes are attractive for the assurance of quality, design and service which comes with an internationally known brand.”

A SAVVY INVESTMENT OPPORTUNITY

With a fast-growing economy and a tourism industry attracting international investors, the homes at Portonovi offer a strong return on investment, and as Montenegro heads towards EU membership, foreign and EU-funded investment in the country has flowed. Almost EUR3 billion has been invested

in the 10 largest coastal developments, giving this part of Montenegro the moniker “the next French Riviera”. This has caught this attention of high-networth individuals who are attracted to the country’s low corporate tax rate. According to Knight Frank 2019 Wealth Report, the number of UHNWIs in Montenegro is expected to increase by 36.1 per cent by 2022. Property transfer tax, inheritance and estate tax are set at a highly competitive 3 per cent. This transfer tax compares very favourably to many other parts of Europe, including Portugal where the rate is 6.5 per cent and Spain where it is up to 10 per cent. Overall, tax regimes in the country are amongst the most competitive in Europe, with a rate of 9 per cent being applied to company profits, capital gains and personal income. An intelligent investment choice, the One&Only Private Homes offer a unique and flexible rental programme designed for turnkey ownership, an incredible attractive proposition for those wishing to attain an income from their waterfront property. Follow in the footsteps of those in the know and invest in your very own slice of the ‘New French Riviera’. Prices at Portonovi start from EUR345,000, with One&Only Private Homes on the market from EUR9.85 million. To find out more visit www.portonovi.com or call +382 31 355 375.

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Perhaps the most unique real estate offering in Portonovi is the exclusive collection of 10 One&Only Portonovi Private Homes. The first ever branded residences in Montenegro, the recently launched, limited-edition Private Homes provide a gateway into the elite world of One&Only.


EXPO 2020 DUBAI SPECIAL EDITION

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PREMIUM CAR SERVICES by Congress Travel

TRAVEL IN STYLE The diverse LCS fleet captivates with possibility, featuring a full line of luxurious well-maintained vehicles (luxury Sedans and MPVs). All vehicles in our fleet are late-model (up to 3 years old) and held to the highest standards of safety, maintenance, and presentation. OUR SERVICES: EVENT ORGANIZATION ACCOMODATION CONCIERGE TRANSFER SERVICES RENT A CAR AIR TICKETS BOOKING RENTAL OF AUDIO-VIDEO EQUIPMENT INTERPRETATION AND TRANSLATION RESERVATIONS: +382 67 080 880 / +382 20 680 860 transfers@congresstravel.me / office.hilton@congresstravel.me OFFICE: HOTEL HILTON PODGORICA, MONTENEGRO



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Sušičko Lake, Nature Park "Piva" - Photo couretsy of Ranko Maraš