Azernews.Az

By Nigar Abbasova

Azerbaijan’s Azmont Investments Company has started selling property in the Portonovi tourist resort built in Montenegro, the company’s website reported. As many as 113 objects were put up for sale. Construction process of the objects is expected to finish in the second half of 2017.

"We look forward to welcoming the first residents to Portonovi next year,” said Ahmet Erentok, chairman of the Azmont Investments Board of Directors.

Being built on the shores of Montenegro’s picturesque Boka Bay the project is expected to make Montenegro the next destination for global traveler.

“We are creating a destination which will exceed expectations, providing some of today’s most enriching experiences that will become tomorrow’s benchmarks. From the high level of pre-registrations we have already received, we have every reason to expect ‎strong sales from the outset," he added.

The total cost of the project amounts to €650 million. The complex is comprised of a hotel, SPA-centre, yacht port, residences, villas, houses, and restaurants. Central Bank of Montenegro issued a license to Azmont Bank, founded by Azerbaijani investors for the funding of the project. SOCAR acts as an intermediary between Montenegro and Azmont Company. The project in Montenegro is considered to be the largest Azerbaijani investment project in tourism outside the country.

Parent company of Azmont Investments is Azerbaijan Global Investments (AGI), a consortium of three leading Azerbaijani investment holding companies PASHA Development, Ata Holding and Synergy Group.

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Nigar Abbasova is AzerNews’ staff journalist, follow her on Twitter: @nigyar_abbasova

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