OVERVIEW
This project represents a prime waterfront development opportunity located in the city center of Herceg Novi, Montenegro, overlooking the Bay of Kotor. The site is designated for a mixed-use development combining residential apartments and a hotel component within a single master-planned concept.
The land benefits from approved urban parameters allowing large-scale construction, making it suitable for a high-density residential and hospitality project. The development strategy focuses on residential unit sales as the primary revenue driver, complemented by long-term hotel income operated under a professional management structure.
Herceg Novi is an established coastal destination with limited waterfront supply, strong seasonal demand, and growing international interest. The combination of city-center location, direct waterfront positioning, and mixed-use flexibility positions this project for attractive development-driven returns.
KEY FACTS
Asset Type: Development land (Hotel + Apartments)
Land Area: 21,000 m²
Construction Coefficient: 2.0
Buildable Area: 42,000 m² above ground + garages
Zoning Mix:
60% residential apartments
40% hotel
Estimated Units: approx. 400 total, incl. 240 apartments
VAT Refund Applicable
Land Price (with permits): €22,000,000
DEVELOPMENT & COSTS
•Estimated Construction Cost (incl. VAT): ~€70,000,000
•Total Project Cost: ~€92,000,000
ASSET TYPE
Mixed-Use Development Land (Hotel & Residential)
WHY INVEST
It offers waterfront city-center land, high residential sale prices, and hotel income potential in one of Montenegro’s most liquid coastal markets.