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MONTENEGRO GRAND BEACH
THREE PLOTS ZONED FOR DEVELOPMENTKey Facts

Three Plots Total Area: 75.000 m2
Total Price: 12.375.000 Euros (165€/m2)

LOCATION: Three adjacent plots are located in the south of Montenegro on a 13km long, undeveloped Grand Beach (Velika Plaza). It is 10min from Ulcinj Town, and less than 1h from Podgorica and Tivat international airports

PLANNING STATUS: Master Plan zoned the site for exclusive tourist resort and/or residential development. Plots are located in the 6th module of the development zones, according to the Master Plan, in the first line of private land.
Valuation by SHM Smith Hodgkinson priced land at 185 €/m2
Expected land price to increase with Planning Permission over 150%
Plots of 25.000m2 each can be sold separately or together

Three plots of 25.000m2 are located on the famous, undeveloped 13km long Grand Beach (Velika Plaza) in Ulcinj area. The plots can be reached in less than one hour drive from Podgorica and Tivat international airports, only 2 hours flight from most European capitals.

The unspoiled surrounding environment is characterized by an average of 240 sunny days per year; 15km of fine sandy beaches; over 6.000ha of the cultivable soil; 100.000 olive trees and groves; healing mud and mineral sulfide waters; in vicinity of natural river island of Ada Bojana, Shas and Skadar Lakes, Bojana River and Salt Plant Lake.

The Ulcinj area has the greatest tourist development potential in Montenegro today with plans for development of an exclusive tourist resort and town along the beach, a new airport and other supporting amenities and facilities.

According to the Master Plan, Grand Beach has been divided into 6 development modules of high standard tourist resort with amenities, separated by greenery, leisure and recreational facilities.

The three plots are located centrally, dominating Module 6, in the first row of privately owned land towards the sea.

Tender, backed by EBRD, for lease of front row land and beach owned by the state has been announced in March 2008 and has already attracted interest from a number of international investors and developers.

More information on the tender and Master Plan can be obtained from the Goverment of Montenegro web site:
www.vlada.cg.yu
www.prostorniplan.vlada.cg.yu
and EBRD web site:
www.ebrd.com/country/country/monte/

Detailed planning, that gives way to construction, can be initiated by investors, subsequent to the tender. The land value is expected to increase by over 150% once Planning Permission has been granted.

JV agreements for land participation with future investor / developer have been made with the owners of the three neighboring plots. By consolidating the 23ha through JV agreements, most of the privately owned land in Module 6, an investor will inevitably have full planning control and play a major role in the development of the whole module.

Why to invest in Montenegro
Why to invest in Ulcinj
View CEED research on Real Estate Market in Montenegro