By: Ramy Sameh
Abu Dhabi – Mubasher: Investment Corporation of Dubai (ICD), the principal investment arm of the Government of Dubai, intends to raise its investments in Porto Montenegro to €1 billion ($1.09 billion) in the next 10 years, project's PR manager said.
Danilo Kalezic, PR manager of Porto Montenegro, added that the total volume of investments since the start of the project in 2006 reached €447 million.
In May, ICD bought the Porto Montenegro Marina and Resort from Montport Capital.
Kalezic pinpointed that ICD intends to inject €37 million in 2017 to expand various marine, housing and hotel facilities of the project.
The project includes the marine which consists of 450 yacht berths ranges between 12 and 250 metres long, where the planned total number will reach 850 berths, PR manager noted.
He added that Montenegro also includes Regent Porto Montenegro Hotel which contains 110 hotel rooms, noting that it is planned for the hotel capacity to reach 300 hotel rooms by 2017.
Translated by: Sara Ghali
