Headline: Mia Investment Makes Its Latest Move in Montenegro's Budva
Montenegro, a popular tourist destination in the Balkans, has recently attracted the interest of Turkish investors. Mia Investment, founded by Sera Group, Fontana Investment, and Feelife, leaders in real estate development, construction, and architectural design, has made its latest investment in Budva, Montenegro after successful projects in Turkey and various other countries. The Riviera Montenegro project, launched with an investment of 125 million euros, is expected to contribute 300 million euros in value to the Montenegrin economy.
The project includes the development of 212 residences, a shopping mall, a beach, and a 144-room hotel. Mia Investment has partnered with the French Accor Group, one of the largest hotel groups in the world, to operate the hotel and residences under the Swissôtel brand, a mark synonymous with quality and luxury. This addition will introduce Swissôtel to Budva, alongside its locations in cities like Moscow, Amsterdam, and Singapore. Scheduled for full operation by 2027, the project aims to enhance Montenegro's brand value.
During the collaboration ceremony held in Istanbul, Mia Investment Board Member Murat Kader emphasized Montenegro's progression towards European Union membership, highlighting the company's ambition to extend Turkish real estate development standards to the European landscape, starting with Montenegro. He remarked on the strategic choice of location due to Montenegro's unique nature and potential, presenting significant opportunities for Turkish investors in the context of EU accession.
The project promises a nine-year average return period for investors, according to data from the European Statistics Institute. Montenegro has seen a significant rise in real estate value, reportedly increasing by 22.6% over the past year, making it the fastest-growing market in Europe according to the European Property Guide.
Over 100 units have already been sold, reflecting strong demand. Kader mentioned the deep historical ties between Turkey and Montenegro and noted that visitors often express a desire to extend their stays. This is seen as a testament to the strategic choice of location for the development.
Riviera Montenegro, featuring a 144-room Swissôtel, 212 residences, a shopping mall, and a beach, is ideally situated in the center of Budva, Montenegro's premier tourist hub. Its beachfront location offers proximity to Slovenska Beach and Budva Marina, and it's within walking distance of Budva Old Town, providing investors with access to the city's various amenities. The construction is progressing rapidly, with the project slated for completion in 2027.