94% open space of property's 690 ha plot, less than 6% will be built
The 5 stars Condo hotel is part of a luxury resort complex situated on Traste Bay, on Lustica peninsula in north-western Montenegro. It is adjacent to the village of Radovići, part of Tivat Municipality.
The complex is situated 13.5 km from the city of Tivat and 10 km from the international airport with flights worldwide.
80 km from the development is the capital city Podgorica and 60 km is Croatia’s Dubrovnik.
This is the largest luxury resort and residential project with a yacht marina, golf course and many other facilities. Complex territory is over 6 million sq.m. It is the first genuine eco-friendly project in Montenegro.
The development is designed as a city-club that combine people from all over the world, keen on golf, sailing, riding, water sports or just holidaymakers by unspoiled nature and pure sea.
The developed infrastructure of the project combines everything you need for a luxurious and secure living: golf course with 18 holes, 2 marinas, hotels, luxury apartments, villas and townhouses, schools, medical centers, spa and wellness center, a conference center and other facilities.
Hotel condo rooms
The condo-hotel is in construction stage. Hotel is scheduled for opening in summer 2018. It is located on the waterfront.
Prices per room start from 245 000 to 295 000 euro.
The hotel comprises studio rooms of 49 sq.m. and suites with separate bedroom of 103 sq.m.
You will receive a condo room fully furnished in accordance with 5* standards and as an owner you’ll be exempted from paying maintenance fees. You will be registered in the Land Registry as an owner and you‘ll be able to sell your room (along with the rental obligations) in case if required. The only restriction is in the condo room usage – you are limited to only 30 days, off the main season.
There are 2 programs:
Program of guaranteed rental
You will get 4.32% for the first three years of hotel operation. After three years profits will be split proportionally in accordance with the pool share and the room price. It is 35/65% split (in reality you should expect a share from 35% to 29% depending on a room category).
Program with no rental guarantee
You will not get the fixed 4,32% for the first year, but you will be getting pool revenue split 50/50 (in reality you should expect a share from 50% to 41% depending on a room category) . The second program (no guarantee) will bring you more profits on a long term perspective.
Location (exact)
This is the exact location of the property development.
Gallery
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The key elements for the developing of a sustainable community and town, as well as a successful balance between the economic, ecological, and social aspects of the project are:
Site planning with low density development
Green areas and green building design principles
Water conservation
Waste management and regional material use
Reduced energy consumption
Total built-up area: 425 000 sq.m.
Only 6% of the total area will be developed, 94% will remain as natural.
Why Invest?
Excellent location
These world-class properties are situated among untouched nature of Montenegro at the Adriatic coast, featuring unobstructed sea views.
Complete infrastructure and community facilities
The development offers all living amenities, including shops, bars, restaurants, schools and medical centres.
Key attractions
2 marinas with mooring and docking support facilities, 7 hotels and a year-round world-class 18-hole golf course.
Low taxes
With a flat-rate income and corporate tax (9%), Montenegro’s tax system has become one of most attractive in Europe.
Simple legal framework
Foreign investors and Montenegrin citizens are treated equally, so buying and registering property is easy.
Early bird benefit
Montenegro is at beginning of the real estate development cycle. Early buyers will benefit from a low entry price point and price appreciation over time.
Currency safety
Buying and selling using the EURO currency – limiting currency risk.
Sustainability
The Development takes an environmentally friendly approach as well as low density development strategy, which puts the environment in the centre of all decisions.
Stability
The government of Montenegro is committed to reform, prosperity and dynamic growth.
Partnership
The management structure consists of a Swiss developer - Orascom Development Ltd. (90%), renowned for its precision and accuracy in the execution of successful integrated town developments around the world, and the Government of Montenegro (10%)
About Montenegro
“Stunning unspoiled coastlines” – Conde Nast Traveller
“Emerging superstar with wild beauty” – Lonely Planet
“A country of pristine nature and medieval towns, clear water and clearer air” – The Times
“Fastest growing travel and tourism economy in the world for the next ten years” – UN WTTC 2011
Exotic and undiscovered, this amazing spot on the Adriatic coast is easily accessible from everywhere in Europe.
This part of Adriatic Coast is a unique blend of untouched nature and local heritage and the resort features eco-friendly architecture and world class facilities.
Montenegro is known worldwide for its historic treasures, such as the Old Town of Budva, the UNESCO-listed fjord in Kotor, the largest canyon in Europe - Tara Canyon, the Balkan Peninsula’s largest lake - Skadar.
The peninsula’s 35 km of coastline combines olive groves and rich vegetation with authentic fishing villages.
The region offers varied terrain and diverse opportunities for activity – skiing in Kolain mountain, hiking in 5 natural parks, sailing, swimming, golf, biking, caving, white water rafting.
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The marker on the map is indicating the exact location of the development.