PODGORICA (Montenegro), July 14 (SeeNews) – Azmont Investment, a subsidiary of Azerbaijan Global Investments (AGI), said on Thursday it has officially launched the sale of 113 properties within its Montenegro-based 650 million euro ($725.1 million) luxury Portonovi tourist resort.
The first phase of the resort is due to open in the second half of 2017, when the properties released for sale will be completed and ready for occupation by residents, Azmont said in a statement.
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"From the high level of pre-registrations we have already received, we have every reason to expect sales from the outset," Ahmet Erentok, chairman of Azmont Investments, said in the release.
The entire Portonovi resort will cover an area of 26 ha, featuring a luxury One&Only hotel, 290 town houses, apartments and villas, a marina with 220 berths for super yachts, yacht and beach clubs, spas and restaurants.
In December, Azmont said it has signed a 305 million euro construction management contract with Italian company Impresa Pizzarotti & C.S.P.A for the the resort project.
Azmont also recently launched operations of its bank in Montenegro's capital Podgorica.
($=0.901 euro)