Property in Montenegro of Significant Interest to Gulf Investors

Don’t you just hate it when people say ‘I told you so’ – yes, we do too - but in this instance we can’t help ourselves…we told you so, we told you that property in Montenegro was heating up in terms of its attraction, appeal, potential and profitability and now we’ve been proven even more right!  So if you haven’t been out there to check out what’s going on yet, you’d better get your skates on. 

What are we going on about?  Well, as a nation, when do you know your local property market has significant potential?  When Gulf investors take a shine to it and commit to significant real estate related projects probably - and the good news for Montenegro is that property in Montenegro is of significant interest to Gulf investors if the last couple of weeks’ activity in the nation is anything to go by.

Not only has the UAE Foreign Minister Hamdan bin Zayed al-Nahyan from Abu Dhabi been on a fact finding real estate investment mission to Montenegro, a delegation from the First Gulf Bank of which he is president has been viewing suitable property investment sites across the nation including the Montenegrin coastal area that Roman Abramovitch apparently has his eye on.

The delegation has also been checking out a former military hospital that Capital Investment, an investment company owned by the Abu Dhabi Royal Family is said to be interested in.  And Capital Investment has already signed a deal with their local partners in Montenegro, the Atlas Group.  Together the companies have agreed to commit up to a billion euros into real estate and tourism related projects and their first venture will be in Podgorica where they are building a 100 million euro, state of the art business centre.

Property prices in Podgorica have been increasing dramatically according to Colliers International – they recently reported that certain areas of Montenegro are seeing annual real estate price gains in excess of 50% with Herceg Novi, Ulcinj, Bar, Tivat, Budva, Sveti Stefan and Petrovac leading the way in terms of their popularity and land and property price appreciation.

Now, if you think Montenegro’s luck is in, the truth is that Montenegro hasn’t exactly been slow in coming forward – they have been out and about in the United Arab Emirates promoting the investment appeal of their nation rather than waiting for Gulf investors to hop on over and discover the nation for themselves.  Now even Qatar has learned about the investment potential in Montenegro and real estate companies from the nation are said to be especially interested in exploring their options in Montenegro.

The first Qatari company to take their interest a stage further is Barwa Real Estate Company whose chairman Ghanim Bin Saad Al Saad visited Montenegro last week and met with the Prime Minister to discuss investment approaches to property in Montenegro that would be of mutual benefit to both Qatar and Montenegro…so as you can see, not only is property in Montenegro of significant interest to Gulf investors, it’s actually booming already!

Special Reports: Property News for Montenegro

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