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Monaco19: Porto Montenegro expects €500 million expansion

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In a private event during the Monaco Yacht Show, Porto Montenegro marina announced it expects to invest €500 million in its property over the next 10 years.

“We are currently only building on 30 percent of a vast 24 hectares that once belonged to the Arsenal, a former Yugoslav naval base,” said Danilo Kalezic, senior PR and marketing manager for the marina, according to a press statement about the event. “To date, we have invested €500 million and I believe that in the next 10 years, we’ll invest an additional €500 million to develop half of the remaining land. This is difficult to predict because the site study is still being adopted but we’re on the right track.”

During the event, marina executives called this past summer their “most successful ever.” It hosted several top-level events, from the first RC44 regatta, the Gigayacht Captains Forum, the Sunreef Yachts rendezvous and the Gumball3000 supercar rally, in addition to music, fashion and wine festivals and Montenegro’s inaugural polo tournament. 

“All berths for yachts under 30m were fully occupied this summer and overall occupancy was 11.5% higher compared to 2018,” Kalezic stated. “Over 30m berthing is expected to exceed 2018 by the end of the winter as the Bijela shipyard and new pre-Bijela offers draw positive attention from the market.”

Porto Montenegro is a luxury yacht homeport and marina village. The marina has 450 berths for yachts from 12m to 250m (with a capacity for expansion to 850 berths), 300 luxury apartments, a five-star hotel and 60 ground floor retail of restaurants, bars, cafes, shops and amenities.

In 2017, Porto Montenegro received a Superyacht Marina of Distinction award and 5 Golden Anchors from The Yacht Harbour Association (TYHA). Porto Montenegro also became the world’s first marina to receive the Platinum award from TYHA and the Marina Industries Association, joint operators of the Gold Anchor award scheme.

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