Montenegro’s Newest Luxury Destination Introduces Europe’s First One&Only Resort

(November 16, 2016) Azmont Investments announces the first phase of Portonovi, Montenegro – the Adriatic’s newest luxury lifestyle destination, with an event at One&Only Royal Mirage in Dubai on Tuesday, 15 November. Portonovi, the €650 million development, set to secure Montenegro as the next destination for the discerning global traveller, is being built on the secluded shores of Montenegro’s picturesque Boka Bay, with the first phase due to open in the second half of 2017.

The company officially launched sales of the first residences at Portonovi to the Middle East market with an event at One&Only Royal Mirage. The stunning coast is fast becoming the focus for travel and real estate investment from the Middle East. With FlyDubai set to launch direct flights within the first half of 2017, and an open visa policy for UAE citizens, Montenegro is creating a buzz in the region. Portonovi consists of sophisticated residences which will sit on a narrow and exclusive part of Boka Bay, affording spectacular views and the perfect location for superyachts to explore 300 kilometres of stunning fjord-like coastline as well as quick access to the Adriatic.

“We are creating a destination which will exceed expectations, providing some of today’s most enriching experiences that will become tomorrow’s benchmarks,” commented Ahmet Erentok, Chairman of Azmont Investments, owners of Portonovi. “We are overwhelmed and humbled by the level of interest from the UAE in Montenegro, and this event acts as an official introduction of Portonovi to our friends in the region. We are confident that Boka Bay will become a second home to our investing partners and regular One&Only guests.”

Portonovi will be home to Europe’s first One&Only resort, opening in summer 2018. One&Only Portonovi will boast approximately 120 luxurious guest rooms, suites and villas, exclusive dining and retail options, and a wellness and vitality centre in partnership with world-renowned wellness leaders, Espace Chenot, providing guests the ultimate Health Wellness Spa.Redefining luxury in the region, One&Only Portonovi will set a new level of guest experience through the impeccable service and offering, and will showcase the beauty of Montenegro’s natural elements. Jean-Michel Gathy and the team from Denniston International Architects are responsible for the architecture and interiors, as well as the design of the exterior spaces surrounding the resort.

“We are very excited to be hosting this special event introducing Portonovi to the region. One&Only is an unparalleled ultra-luxury resort collection with an enviable portfolio in spectacular locations, with Montenegro being no exception,” commented Philippe Zuber, President and Chief Operating Officer, One&Only Resorts. “We are looking forward to opening our very first resort in Europe, which our guests have been asking for. Portonovi is the perfect location and represents a driver for change, with significant investment in the region. We are confident that Portonovi will become the elite new destination in Europe for sophisticated travellers.”

Azmont Investments, the company behind the luxury development, Portonovi, in Boka Bay has been established in Montenegro since 2012 and is one of several companies actively investing in the country. Beside Portonovi, home of the first One&Only resort in Europe, the company is doing more than investing in the €650 million project; Azmont has initiated and supported the establishment of an International Hospitality program at the University of Donja Gorica. This initiative goes hand in hand with the Government’s plan to focus on offering competitive destinations for luxury travel.

“From what we’ve seen unfold over the last decade in the region, we’ve learned that as modern investors we need to approach things with a multi-layered strategy,” said Ahmet Erentok, Chairman of Azmont Investments. “Focusing on only the physical development of a place doesn’t result in long term success. There needs to be investment with lasting impact and that comes from education and human development. We have seen tremendous interest from students in the International Hospitality program and look forward to the graduates of this school becoming the benchmark for the tourism sector.”  

The 26 hectare Portonovi Resort will comprise of 290 propertiesfrom luxurious, spacious town houses and apartments set in the heart of its Mediterranean-style village, to stylish villas in its landscaped gardens, to sleek penthouse apartments and sky villas with infinity pools overlooking the marina. Portonovi will also be home to Europe’s first One&Only resort opening in 2018. With interiors designed by the internationally renowned and inspirational architect, Jean-Michel Gathy fromDenniston International Architects, One&Only Portonovi will feature approximately 120 luxurious guest rooms, suites and villas, the luxurious Espace Chenot Health Wellness Spa plus exclusive dining and retail options.