Montenegro - set to flourish for sailing

Montenegro’s Bay of Kotor SW

Picturesque City of Tivat © SW

'Monte Carlo, Antibe, Caprera, Nice and Cannes — they've been there for years, and that's really my generation,' says Mr. Munk, the 82-year-old native Hungarian who came to Canada at age 20 and went on to build an empire. 'But for the younger generation, the current leisure ports are way overbuilt, way overcrowded, way over-restauranted, way overdeveloped. This is more in tune with larger boats of today than those ports that were built a generation ago.'

Mr. Munk, chairman of Toronto-based Barrick Gold Corp., the world's largest gold mining company, is the visionary and chief investor behind the new Porto Montenegro, which he promises will be the Mediterranean's most comprehensive nautical facility. The 24-hectare property is located near the city of Tivat in the fjord-like Bay of Kotor, a UNESCO World Heritage Site and the deepest natural harbour in southern Europe.

Because Porto Montenegro sits on the site of a former Austro-Hungarian naval base, the water depth can accommodate today's super-yachts, defined as more than 24 metres in length.

Once complete, Porto Montenegro will feature 500 regular berths and another 150 for super-yachts, with residences, luxury hotels, bars, art galleries, a nautical museum and a waterfront promenade all in the works.

To Mr. Munk's delight, the first 85 berths for yachts up to 100 metres opened for business last summer and were fully booked within three weeks.

'It's going to appeal to everybody who has a yacht but doesn't want to be in Monte Carlo or Nice or Cannes because they like nature more, they like ecology more, they like to have the Dalmatian Coast and natural islands, and the different type of geography and topography and much better weather,' he gushes.

Mr. Munk has spent holidays sailing in the Mediterranean every summer as his five children were growing up. They sailed to Sardinia, Italy, Spain, Greece and other Mediterranean hotspots and discovered fascinating beaches and ports along the way.

But with many of the older ports built decades ago, he says, they cannot accommodate the length and depth of today's luxury yachts and, on top of that, charge big bucks for mooring, water and power. Porto Montenegro will change that thanks to its naval base infrastructure, modern facilities and attractive pricing.

For comprehensive videos on the history of the area and future plans for the port of Montenegro, visit www.portomontenegro.com