Porto Montenegro is the project of construction of a settlement around the marina and home port for yachts, with great perspective designed to meet sophisticated needs of all yachts, their owners, guests and crew, with additional infrastructure for the largest yachts. The main investor of the project is a Canadian businessman Peter Munk, founder of Barrick Gold Corporation. Other investors are: Lord Jacob Rothschild, Nathaniel Rothschild, Bernard Arnault, Sandor Demjan and Anthony Munk.
Porto Montenegro is being built on the place of the former Austro-Hungarian Naval arsenal that is Naval-Repair Institute in Tivat, founded in 1889 in a sheltered Boka Bay which is under the protection of UNESCO and is the deepest natural harbor on the Mediterranean. The total project includes construction of 630 berths for yachts of all sizes, of which 130 will be for yachts whose lengths exceed 30 meters. Current capacity of the marina is 185 berths with the accompanying infrastructure: water supply, electricity supply, wireless internet. There is also a 24-hour physical protection of marina as well as the Yacht Assist team responsible for providing various types of services and information to the marina users, from solving the problem of little breaks to organizing trips. In summer 2010 Porto Montenegro acquired the status of border crossings and the entire customs procedures can be completed at the marina. Apart from the facilitated customs procedures, the marine clients have access to fuel supply which is exempt from all duties.
The settlement which is situated on 24 acres in the coastal zone includes the promenade and exclusive apartments on the coast, hotels, cafes and restaurants. The first three residential complexes - Teuta, Zeta and Ozana with 75 residential units and 2,500 square meters of office premises have been completed. By the end of this year the fourth residential complex Milena will be completed, while the fifth building - Tara will be delivered to its owners in summer 2012. In Porto Montenegro except for numerous boutiques, nautical equipment shops, brokerage agencies, beauty and hairdressing salon and furniture shops there are recreational facilities: sports club with gym, Pilates and yoga studio, tennis and squash courts, bowling ... The offer is enriched with Porto Montenegro Yachting Club, which organizes regattas, rowing classes, motor boats races, wooden boat-making classes and other social events.
In September 2010 the London Knightsbridge International School admitted its first students and it operates as a top educational institution within Porto Montenegro. In July 2011 a long-awaited Collection of Maritime Heritage was open which consists of numerous exhibits representing the history of the Naval – Repair Institute and Tivat. In the vicinity of Porto modern facilities for reparation and maintenance of yachts and golf courses are planned to be built.
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