Formerly the home of an Austro-Hungarian Naval Base, the Bay of Kotor was hidden from the world by mountains on all sides and a no-fly zone overhead.
The chairman and founder of Barrick Gold, Peter Munk, rediscovered the former naval base while on a helicopter trip and immediately realized the potential of building a luxury yachting marina there. Munk recruited Jacob Rothschild and other high-profile investors and began construction on Porto Montenegro.
“Yachts are getting bigger and bigger and people are complaining that they can’t find proper berths for them,” said Munk. “That’s no problem in Tivat. It used to cater to warships.”
Currently the marina boasts 183 berths for yachts up to 330 feet, a residential building, a restaurant, and a boutique. The marina has been outfitted with all the amenities necessary to refuel, repair and refurbish visiting yachts.
When completed Porto Montenegro will have 630 berths, 130 of which are outfitted for superyachts (larger then 78 feet). Munk’s vision for the future of Porto Montenegro includes retail stores, a farmer’s market, an international school, a hotel, cafés, a casino and a sports complex.