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Montenegro Resort Gets SOCAR Funding

In tourism development news from Baku, an interview given by Montenegro President Filip Vujanovic tells of Azerbaijan investors putting money into a new resort slated to open in 2017. Here’s the news along with a little preview of the resort to come.

Boca Bay

The Azerbaijan national oil company SOCAR, along with large scale Azerbaijani companies,  Pasha and Ata Holdings, and Synergy Group, will invest some €200 million euro. The new Boca Bay resort area once used by the military, should boost the local economy substantially, according to the news. The video below from One & Only reveals a bit of the flavor of this new destination.

Montenegro’s willingness to establish closer relations with Azerbaijan were mirrored in President Vujanovic’s comments on the deal. Vujanovic stressed the strong partnership his government has with Baku, one that could help Montenegro diversify its economy:

“I am very happy with our relations with Azerbaijan. My friend [Azerbaijani President] Ilham Aliyev has understood Montenegro’s willingness to establish close relations.”

The resort complex will include a “One & Only” branded hotel as well as luxury apartments, villas and a harbour for super-yachts. An agreement on long-term lease of the site will be signed with SOCAR for 90 years. The company will pay the rent for the first 45-year period up front.

According to the One & Only website, this first One&Only resort in Europe will be located at the entrance to Tivat Bay on 60 acres feature stunning views of the Adriatic Sea. Guest rooms and private villas will reflect the beautiful natural elements of Montenegro and a world-class marina and health spa will attract the travel elite from around the world. The first One&Only resort in Europe will be located at the entrance to Tivat Bay.

Categories: Montenegro
Phil Butler: Phil is a prolific technology, travel, and news journalist and editor. A former public relations executive, he is an analyst and contributor to key hospitality and travel media, as well as a geopolitical expert for more than a dozen international media outlets.

View Comments (3)

  • Hi
    Have these dates been sense checked by any one? I'm asking because of the following;
    Presuming you are aware of the period of time required, the sequence and the process surrounding the registration of the (new) coastline; have you been informed that the reclamation could take up to a year to complete, after which the new coastline can be surveyed, registered and final plans of buildings along the coastline, approved. In my opinion, 2017 is subsequently very optimistic and highly unrealistic for the opening of your hotel.
    Are you aware of the fact that most of the expats (who have the required experience) have resigned / been fired in the last twelve months? Are you confident these dates can be met with the remaining (mainly inexperienced with O&O standards) staff? Do yourself a favor and have Azmont provide you with a list of (current Azmont) employees who have completed a One & Only.
    Regarding the Montenegrin requirement that pertains to the investment required into offsite infrastructure; please note that none of these investments (required for offsite infrastructure) have been made. No designs, no tender process or anything of the sort has even started yet.
    You know that electrical supply to the project is unstable? The substation required has to be built directly across the site but there are property 'issues'
    The main issue on potable water supply is that the reservoir also has to be built offsite. Another property issue.
    To date, no one can give a date as to when these critical items will be completed & commissioned for use. (Proper) Commissioning of (on site) buildings can only be done once these offsite infrastructure investments have been completed.
    I'd like to send mr Butler a letter received from a concerned citizen pertaining specifically to the pollution and sewage problem. In essence, the information should be, as a whole, of interest to future operations in the area;
    The completion date of the municipal waste water treatment plant has been extended on several occasions. Until then, raw sewage will be drained untreated into the bay, channeled across the site through no less than nine (9) open storm water passages. One of these channels is directly west of the proposed hotel site. Also note that all houses south of the Lunga Mare has not been connected to the municipal sewer system and that these houses' raw sewage will continue to drain into the bay even after the Waste Water Treatment Works has been completed.
    You should insist on receiving Bijela Shipyards' latest reports on sea sediment - and sea water analysis. Check the levels of suspended solids, specifically the content of heavy metals and hydrocarbons (oil) as well as the results of the sea sediment analysis of the Portonovi coastline. The results ought to be discomforting, to say the least.

    • Hi John,

      It is interesting that you should mention this. The 2017 data came from reports about the funding for the overall project, while 2018 is also a prevalent completion date if one looks into the various sub-developments. As you suggest, there is a lot of work and information to be gleaned. We have contacted One & Only Resorts for more information on their role. Hopefully, more can be told soon.

      Thanks for your insight and concern.

      Phil Butler
      Editor in Chief

  • Hi John

    i have sent O&O various emails to which they do not respond. \

    If you are interested in the proof of the above, send me an email.

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