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Montenegro – Sale of Portonovi Resort Properties

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Azmont Investment, a subsidiary of Azerbaijan Global Investments (AGI), announced at mid-July the sale of 113 properties within its Montenegro-based €650 million luxury Portonovi tourist resort.

The first phase of the resort is due to open in the second half of 2017, when the properties released for sale will be completed and ready for occupation by residents.

The entire Portonovi resort will cover an area of 26 ha, featuring a luxury “One&Only” hotel, 290 town houses, apartments and villas, a marina with 220 berths for super yachts, yacht and beach clubs, spas and restaurants.

In December, Azmont said it has signed a €305 million construction management contract with Italian company Impresa Pizzarotti & C.S.P.A for the resort project.

Azmont also recently launched operations of its bank in Montenegro’s capital Podgorica.

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