News
Latest News - September 2008
To read the September 2008 edition of our newsletter please click here.
Latest News - August 2008
To read the August 2008 edition of our newsletter please click here.
Montenegro Prospects - Kotor Office Now Open
We are delighted to announce the official opening of our new office in the heart of Kotor Old Town. Centrally located beside Evergreen Pub, just off Museum Square, we look forward to welcoming past, present and future clients there.
Madonna's September Concert Confirmed
According to an article in yesterday's (June 30th) Vijesti, Madonna will perform at Jaz beach on 25th September this year. The concert was annouced at a press conference held last weekend. 65,000 tickets will go on sale, priced from €35 to €200.
July Newsletter
Click here to read the July 2008 edition of our newsletter
Aman Resorts to invest €75 million in Renovations
The CEO of Aman Resorts Adrian Zecha recently held a press conference where he stated that Aman resorts will invest at least €75 million in the renovation of Sveti Stefan and Hotel Milocer, and in the building of the brand new hotel Kraljicina Plaza. This is more than double the investment they envisaged when they signed the lease contract.
He said Hotel Milocer would possibly open in June 2008, with Sveti Stefan planned to reopen in 2009, and the new hotel in 2010. Mr Zecha said "we are very eager to finish the renovation and this is a wonderful challenge for us. When we applied for the tender we did not have enough time to check in detail the state of the buildings, our first estimate was €15 million was needed, we committed to invest €20 million, but when we started the renovation we saw that we will need minimum €75 milion to make Sveti Stefan the most luxurious resort on the Adriatic. We will add a spa center and instead of 100 rooms Sveti Stefan will have 50 rooms, Hotel Milocer 6 suites, and the new Kraljicina Plaza 120 rooms. Over the last year work has focused on stabilizing the existing buildings, these works were very sensitive so as not to endanger the exterior".
Aman Resorts owns and manages 18 small luxury resorts worldwide. Established in 1988, it has resorts in many locations including Thailand, Cambodia, France, Morocco, Indonesia and French Polynesia.
Newsletter - June 2008
Click here to read our June Newsletter.
Montenegro Prospects Launches New Property Alerts Service
Montenegro Prospects is pleased to introduce our new Property Alert service.
If you are searching for your ideal property in Montenegro, and would like to be kept informed as soon as a property matching your requirements becomes available, please complete our registration form, which you can view here.
Newsletter - May 2008
The May 2008 edition of our Newsletter can be seen here.
Filip Vujanovic wins re-election
President Filip Vujanovic has been successful in his bid to win re-election as President of Montenegro. Vujanovic won with 53.2% of the vote.
Newsletter - April 2008
Please click here to read the April edition of our newsletter.
Montenegro to get First Four Seasons Hotel on Mediterranean
At a press conference last week, Peter Munk announced that a Four Seasons hotel will be built as part of the Porto Montenegro marina development. The hotel will have 300 bedrooms, and is expected to be open by 2010.
With 75 hotels in 31 countries, Four Seasons is one of world’s largest hotel groups, recognised worldwide for its high standards. Tivat will be the group’s first hotel on the Mediterranean Coast. Peter Munk also intends to build another elite hotel in Tivat at a later stage.
First Presidential Elections since Independence to be held
On Sunday April 6th, Montenegro will hold its first presidential elections since becoming gaining independence in 2006. Four candidates are in the running, with current president, Filip Vujanovic, of the Democratic Party of Socialists, widely expected to be voted in for another term.
Newsletter - March 2008
Click here to view the March edition of our newsletter.
Dutch Company wins Tivat Golf Course Tender
Limun Investments from Holland, has been successful in their bid for 75% of the shares in Monteprazno, the site of the planned golf course near Tivat. The company bid 48 million euros to purchase the shares, and have committed a further 205 million euros for investment in the course and surrounding infrastructure. The company had earlier announced that if their bid were successful, the new golf course would be open in time for summer 2009.
Montenegro Airlines annouces Tivat - London flights
Montenegro Airlines has annouced it will launch two flights a week from Tivat airport to London Stansted, commencing on May 4th 2008.
Although Ryanair have been rumoured to be considering flights to Tivat for some time, Montenegro Airlines is the first airline to offically launch scheduled flights between Montenegro and the UK. Flying on Wednesdays and Sundays, return fares will start from €220.
For further information on this, or alternative flight options to Montenegro, contact us on +44 1753 831182 or click here to send us an email.
Purchase Tax increases to 3%
As of 1st January 2008, all real estate purchases in Montenegro will be subject to a purchase tax of 3%. The tax increases from 2%.
Large Commercial Centre being constructed in Budva
Construction of a large commercial centre has started in Budva, with completion expected for early 2009. Spreading across an area of 38,500m2 the centre will include offices, banks, shops, a library and cinema.
Montenegro signs Barcelona Convention
Montenegro has recently signed the Barcelona Convention and joined the Mediterranean Action Plan. The Convention is the basis for international co-operation in the protection of the marine environment and coastal regions of the Mediterranean. Montenegro will be required to to establish protected marine areas and to adopt regulations to safeguard against pollution. Predrad Nenezic, Montenegro's Minister of Tourism and Environment said "Signing the Barcelona Convention gives Montenegro an important chance to become an example of how to develop in an environmentally sustainable way".
First English Language newspaper launched in Montenegro
A new English language newspaper has been launched in Montenegro. Aimed at Montenegro's growing expat community, the "Montenegro Times" is published weekly and contains articles on local and international news.