Porto Montenegro Is Ahead In The Race For Bid For Golf Course.

Montenegrin government has released an international tender for the land in the coastal town of Tivat which is proposed to be raised as golf course. The government has declared that this will be a priority project. It is a lease program and not an outright sale of the land. The lease is for 90 years. After 90 years an investor can buy the property. The said land plot is owned by a state controlled agricultural company Montepranzo- Bokaprodukt. Montepranzo- Bokaprodukt owns over 200 hectors of land plot in Tivat and Kotor region which was earlier an agriculture land. It also has significant amount of land in Lasta and Grbaljska. The area of the land is 786,685 square meters. The proposal by Privatization and Capital Investment Council is aimed at the land being used for tourism development and the construction of golf course. The deadline for the submission of the tender is 4^th November. The documentation of the preparation of the bid for the said tender will cost ten thousand Euros. Raiffeisen Investment is appointed as the project advisor.

The proposed golf course is planned near the coastal town of Tivat. Tivat is located in Kotor region. Bay of Kotor, also known as Boka Kotorska, is located in South-Western region of Montenegro. It has got a coast along the Adriatic Sea. The said land is located in the Tivat Mrsevac zone. The land stretches from the north of the Adriatic Main Road from Budva to Tivat near Tivat airport. The land plot is located at 2.5 km from Tivat city and just 700 meters from the Adriatic Sea. The land is about 1.8 km long and 180 to 700 meter in width.

International investors who have expertise in the design, construction and operation of large resorts are invited to bid for a tender. Porto Montenegro, a Tivat company which is founded by the owner of Adriatic Marinas has already purchased the tender documents for the preparation of bids for the development and operation of golf course. The reason Peter Munk’s bid for the tender of the development of golf course is that the proposed project complements his Porto Montenegro marina project which is very close to the proposed golf course site. The company is led by Canadian Investor, Peter Munk. The Porto Montenegro company has been involved in the development of super yacht marina and waterfront development. The development construction of residential, hotel, retail and marina related elements. Obviously golf course is an extension of such a development plan and the proposed land of the golf course is close to his marina project. Peter Munk said way back in 2007 to the Montenegro government during his business visit to Montenegro that he wants the project. He also emphasized the fact that golf course in Tivat plays a significant role in the Porto Montenegro’s long term plan. He wants to make Montenegro as the Monaco of Adriatic coast. With credentials of the marina project in his resume Peter Munk’s Porto Montenegro is no doubt a strong contender for the project.