MONTENEGRIN CITIZENSHIP BY INVESTMENT
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MONTENEGRIN CITIZENSHIP BY INVESTMENT
nakheel presentation

Porto Montenegro Showcased to 300+ Brokers in Dubai

 

Earlier this autumn Porto Montenegro’s new urban neighbourhood, Boka Place was showcased at an exclusive event in Dubai for partners and potential investors in association with UAE master developer Nakheel, ahead of the highly anticipated EXPO 2020, which began on 1st October 2021.

With Montenegro only three hours flight time from key European cities, Porto Montenegro is set to attract the attention of numerous partner agencies that have been operating in The Emirates for many years. Porto Montenegro has become a thriving global village community with more than 40 nationalities, with buyers from countries such as the US and Canada, South Africa and Russia, as well as the Far and Middle East. With over 280 days of sunshine and 295km of breath-taking coastline, Montenegro is renowned for its natural beauty and offers one of the lowest personal, corporate and capital gains tax in Europe, making Montenegro an attractive real estate investment opportunity. It has become one of the fastest growing economies in the Balkans. The cost of real estate has increased since the adoption of the Euro in 2002, particularly in coastal areas, which has seen a 21% increase in price per m2 between 2017-2019. With direct flights from Dubai and the increased popularity of Montenegro as a tourist destination, there have been an influx of travellers from the UAE and more widely in the Middle East.

Last year the opportunity to invest in Porto Montenegro was extended to the purchase of off-plan private and hotel-managed properties within Boka Place—with the advantage of obtaining Montenegrin citizenship by investing in eligible real estate for a limited period until the start of the following year.

Currently under construction and set to complete in late 2023, Boka Place comprises 213 apartments, prospective residents will be able to choose from a range of SIRO-managed residences or private residences. The urban village will feature 144 SIRO-managed homes with the benefit of 5-star hotel concierge services, with full access to all health and wellness facilities, including the rooftop pool and bar, whilst the 69 private residences can be managed by M Residences Rental Management Service.

Over 60% of SIRO-managed residences have been sold and reserved since the launch of off-plan sales in summer 2020, as buyers look to take advantage of the Montenegrin Citizenship by Investment Programme (CBI), which is available until the end of 2021. Studio, one, two and three-bedroom luxury apartments are available at Boka Place, from €190,000 for studios to POA for penthouse suites.