Canadian Billionaire: Montenegro More Attractive Than the French Riviera

Peter Munk, a Canadian billionaire and one of the richest people in Canada has fallen in love with Montenegro and sees enormous potential in it. The man who, among others, stands behind the grand, breathtaking project Porto Montenegro in Tivat says that all the projects that are in development in Montenegro at the moment are just the beginning. He thinks that Montenegro is a magnet for foreign investors, even more than the French Riviera, Croatia or Greece. “Montenegro has an amazing business and investment climate — many investors are already investing, and many more will invest in the future,” says Munk.

Peter Munk is the founder, owner and chairman of Barrick Gold, the world’s biggest gold mining company. He, along with a few other businessmen, started the project Porto Montenegro, which is a huge complex which includes a luxury yacht marina, among other things (galleries, markets, condos, museums, conference centers) . The project is located in Tivat, which is an amazing location because is is in the secluded part of Bay of Kotor. The proximity of the Tivat Airport doesn’t hurt either.

Porto Montenegro, once finished, will have berths for 650 yachts, 150 of them super yachts, up to 150m long. “I think that our project showed everyone that Montenegro is a great country and that it is very capable of attracting foreign investors,” said Munk, who also added that Porto Montenegro isn’t just for rich people. He said that anyone who owns a boat and wants to have a great vacation should come to Montenegro. “Many people today have boats and yachts. Those who don’t can rent them.” He also added that he thinks that this is just the beginning. “I know, you don’t believe me. People didn’t believe me 3 years ago when I said the same thing. Come back in 3 years and you’ll see,” concluded Munk.

Porto Montenegro is owned 54% by Munk, while the rest is owned by Oleg Deripaska, the richest man in Russia, Nathanial Rothschild and Jacob Rothschild, famous bankers, Bernard Arnault, one of the richest businessmen in Europe and Sandro Demijan.

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