Montenegro Real Estate Projects Build Momentum

• Posted on Oct 29, 2020
• In Montenegro

Westin, Bjelasica 1450 and Breza projects advance on schedule, to be completed by 2022.

While there are currently 11 projects approved by the Government of Montenegro, most of them have remained on paper. This is not the case with projects offered through Arton, which have shown significant progress over the past few months.

These projects include the majestic 4-star resort, Bjelasica 1450, the 5-star Westin Ski Resort Kolašin, the first 5-star hotel in Žabljakas, the Durmitor Hotel, as well as the luxury Hotel and Spa Breza. These projects are centrally located within Montenegro’s most breathtaking landscapes right at the heart of Kolašin and have gained considerable global attention from investors.

With the foundation complete and main parts of the structure underway before the end of the year, these projects have shown an impressive track record sticking to both schedule and budget despite the shockwave of the pandemic slowing down many of the region’s development projects.

“We work with the industry’s most credible developers, some of which have even installed live webcams on their construction sites to show the project’s progress,” shares Milos Stojanovic, Managing Director of Arton Capital Montenegro, referring to Bjelasica 1450’s two live webcams that stream the progression of the development.
Take a peek at the progress.

The successful advancement of the developers could also be attributed to having secured funding from Arton’s pipeline of clients. To qualify for Montenegro’s Citizenship by Investment Program, investors can purchase a unit in an approved development for €250,000, with 21% VAT included, in addition to a Government Fund Donation of €100,000.

BJELASICA 1450

Bjelasica 1450 is currently being built on 3-acres of alpine forest which will comfortably accommodate 168 units in various room types. Currently, the complete installation of the formwork and foundation for the 4-star resort’s main infrastructure has been completed and will feature a reception area, lobby bar, as well as select retail stores including a pharmacy, spa, and restaurants.

Finessing the amenities and landscape, such as the indoor pool, storage and ski facilities, and 3 spacious terraces with an outdoor pool, will begin in the last phase of construction.

WESTIN HOTEL KOLASIN

The new 5-star Westin Ski Resort Kolašin is led by project developers, York Hotels & Resorts D.O.O. who have teamed up with a leading construction company in Montenegro, Build Mont to deliver the project by the end of 2022. The resort will feature deluxe guestrooms, villas, and presidential suites to accommodate nearly 800 guests.

BREZA HOTEL AND SPA

The luxury hotel and spa will be located right at the heart of Kolašin, surrounded by majestic lakes and mountains, and exclusively offers 188 refined units of variable sizes.

With an average of 50 employees on-site, and all installation of formwork and reinforcements, as well as pillars, walls, and ceilings complete, the project will now begin its next phase of construction to install underground pipes and build an access road to the buildings.

THE DURMITOR HOTEL

The 5-star Durmitor Hotel in Žabljakas will be built on the highest altitude in all of the Balkans, offering scenic views of Northern Montenegro’s majestic mountains and the Black Lake.

Located at 1450m above sea level, this luxury hotel will feature 55 luxury suites, 2 restaurants, a wellness spa centre, an indoor and outdoor swimming pool, a children’s playroom, and a conference room. The interior of the hotel will be designed with a modern touch, perfected with state of the art technology, luxurious materials, contemporary and dynamic touches, entirely blended into the inspirations of the inherited location.