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Portonovi - The New Riviera Destination


Portonovi, an idyllic Mediterranean-style village set amid the wild beauty of Montenegro's Boka Bay

Few stretches of coastline anywhere in the world can compare to the allure of Boka Bay. This spectacular landscape has been shaped by dark mountains and mirror-flat waters, with sun-sparkled seas and waves that gently ripple in the Adriatic breeze. Vast limestone outcrops rise from the horizon, giving shelter to the ancient walled towns that sit quietly by the shore. Each of them hides their own stories, with a beguiling mix of Ottoman, Greek and Roman influences that beg to be explored. 

Montenegro is a truly year-round destination, blessed with a Mediterranean climate and an array of terrains and landscapes. From winter ski seasons to summers spent beneath the balmy Adriatic sun, every season here is filled with things to do, see and experience. With a thriving economy, a welcoming tax regime and European Union membership on the horizon, there's never ben a better time to own a little slice of Montenegro for yourself.

The nation's rebirth as a tourist destination has led to a flourishing market in high-end real estate, of which Portonovi is a leading example. In recent years, Montenegro has solidified its position as one of Europe's foremost second home and property investment markets. As well as the bullish economy and friendly tax environment, investors have been drawn by average rental yields of 7.5%, which are significantly above the European average.

As a result, house prices have increased 5% on average per year since 2008 as foreign investment continues to enter the country. In fact, over the last three years there's been a 22-fold increase in foreign real estate sales, up to a total of 15.1 million in 2019. 

The corporate parent behind Azmont Investments is Azerbaijan Global Investments (AGI). Portonovi is Azerbaijan's first project outside its borders and energy sector, with a total investment value of 828 million EUR. This world-class resort, complete with state-of-the-art marina and the first One&Only Resort in Europe partnering with the well renowned Chenot Espace, has been developed as one of the most sought-after residential and leisure destinations in the Adriatic.

As a responsible corporate citizen, Azmont Investments contributes to the well-being of the society through well planned and continuous CSR programs, primarily focusing on hospitality. Furthermore, the investor continues to deliver ongoing investments into the local community through employment and specialist training, as well as improving the local infrastructure.

To visit their official website, click here.


Related Experts

Milovan Novakovic

General Manager


Milovan joined Colliers International in 2007 and has started as an ICAS Officer.

In 2009 he took the role of Senior office representative and he was coordinating all activities of the Montenegrin office together with SEE Regional director.

At the end of 2010 he officially became General Manager of Colliers International, Montenegro.

Milovan has graduated at the Faculty of Economics in Podgorica and before he joined Colliers International he worked as Computer Designer, Research Assistant, Advisor for Marketing, Financial Officer, Marketing Manager and free entrepreneur. Milovan has successfully undertaken research studies related to all types of property, such as hotels and resorts, industrial premises, office and retail blocks, land parcels and residential properties and he was directly involved in all big projects that Colliers has done in Montenegro. He is a certified appraiser and he is LEED qualified. He is a member of the Board of Directors of the Green Building Council of Montenegro and Colliers is the Co-Founder of that Organization​. From December 2014 he is a member of Royal Institutution of Chartered Surveyors.

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Nikola Kostic

Manager | Commercial Agency


Nikola started working in Colliers International Montenegro in November 2012.

Currently, He is a manager in commercial department in charge for representing both Tenants and Landlords. His long experience and market intelligence allowed him to work with the most significant players in retail industry present in Montenegro.

Before joining commercial department, He was Mall manager in one of the biggest shopping malls in Podgorica, Mall of Montenegro. He was responsible for its administration, inventory and human resources management.  He was in charge for organization of work in the mall, duties and responsibilities of the employees, supervision of costs and incomes of the property. In addition, he was responsible for making deals on leasing, negotiating with potential tenants and coordination of their needs and obligations in the shopping center.

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