A Montenegrin gem: Development of the month Sunset Bay Resort
St Marko Island, Boka Bay
Our latest TOPHOTELDEVELOPMENT article takes a closer look at Sunset Bay Resort, the development of the month attracting plenty of hotel investor interest in Montenegro.
We continue with our special series of TOPHOTELDEVELOPMENT stories focusing on hotel development opportunities in global hospitality hotspots.
The Montenegrin holiday real estate market is characterised by both charming historic real estate and an abundance of smaller local residential buildings, and recently, an increasing number of quality real estate and large resort projects, mostly located in the Bay of Kotor and along the Budva Riviera.
The development of such properties and projects has been sparked by the increase in interest of sophisticated buyers and investors, as well as by the growth of competition amongst developers in terms of offering quality developments.
Last year, an article by Business Insider stated that Montenegro is set for a luxury upgrade with the Chedi Lustica Bay having newly opened and One & Only scheduled to launch its first European resort in 2020 with Portonovi in Boka Bay.
Tivat Bay development
The unparalleled natural setting coved amongst mountain tops which embrace Tivat’s part of the Boka Bay is just one of the key factors which resulted in the concept development of what is planned to be one of the most unique and breathtaking resorts on this side of the Adriatic coast.
Surrounded by some of Montenegro’s most astonishing developments in the past decade, such as Porto Montenegro, Lustica Bay and Porto Novi, Sun Bay is set to further boost the appeal of this region.
Just five minutes away from the Tivat international airport, with over 17,000 sq m of seafront land and approximately a 100m beach length, the upscale complex will offer luxury Mediterranean residences and villas with a variety of facilities to indulge in.
Wonderful piece of land
Aerial shot of Sunset Bay Resort, Tivat
The total gross construction area amounts to over 6000 sq m with a permit to build up to two storeys plus attic each. The total number of units anticipated is 13 where each will offer a private patio, swimming pool and separate access.
The residences and villas set at two floors each are to be developed in a modern-Mediterranean style with spacious balconies and a guaranteed stunning seafront view.
Apart from the residential units, Sunset Bay envisions outdoor recreational facilities and pools, a beachfront restaurant, a jetty, an expansive terrace, a lounge and a bar with a private beach.
Boutique hotel with public approval and direct access to marina
Visualisation of Sunset Bay Resort, Tivat
A private driveway leads to the complex with private outdoor parking and lanes which spread throughout it.
Rich horticulture will create a unique blend with its already fascinating natural surroundings.
The intended purpose of the area is dictated by the Ministry of Sustainable Development and Tourism primarily for tourism and hospitality.
Bound to appeal to major investors, this project is already guaranteed to boast the ongoing interest in Montenegro’s coast and Boka Day during this already astounding era of growth on the global real estate market.
Investment Consultant & Coordinator at Montenegro Coast Real Estate Agency
An internationally experienced hotel, resort & restaurant manager, with a devotion towards hotel & resort developments. Focused on five-star and luxury projects, she has acted as an advisor for numerous investing companies.