New dynamics in Portonovi Resort as Azmont Investments and Pizzarotti signed contract

(December 3, 2015) Following the closure of Tender Process and announcement of appointment, Azmont Investments and Impresa Pizzarotti & C. S.P.A. have signed the 305 mill EUR worth construction management contract. Italy-based contractor will join Portonovi Resort as the main contractor of the most prestigious project to be that will bring Montenegro to the world map of high-end hospitality.

"When we started main contractor tender, many well-known international construction companies have participated at this tender and offer their expertise. After transparent and long tender process, as an investor we made our decision between the best in this area. Impresa Pizzarotti has very strong expertise and skills in real estate construction management with large international experience in high level residential, hotels, hospitals and multifunctional project worldwide. Next three years, especially 2016 and 2107 will be very busy and active years for construction. In this period it will be excellent for the local construction and service companies to cooperate with Pizzarotti and develop their experience.’’, said Mr. Ahmet Erentok, Chairman of the Board in Azmont Investments.

"This is a relevant project for our company in a very strategic area for our business", commented Mr. Paolo Pizzarotti, Company Chairman. "We reaffirm what we previously said in occasion of the contract's assignment: we are very proud to be appointed as the construction management contractor of this unique project, one of the most prestigious in the Mediterranean area" adding "We will bring our deep know-how in terms of construction management, quality and organization for the success of the project".

During the signing ceremony, both companies have expressed excitement for working together saying this kind of energy is important impetus for the new dynamics both are eager to see on the Portonovi Site. Intensive works on Portonovi resort are being continued. Marina works are progressing and 8% of the piles have already been executed. Also 81% of the overall ground improves are executed to date. The concrete structure to the first four buildings of the Lower Village has been completed.

Impressa Pizzarotti, Italy-based contractor since 1910 has a large international experience in high level residential, hotel and multifunctional projects worldwide. The company is currently carrying out projects in Europe, US, GULF Countries and North Africa.

Azmont Investments is Montenegro based Investor ever since 2012 and proudly develop Portonovi Resort in Boka Bay. The company is currently in the process of getting the license to establish the Azmont Bank in Montenegro.