The state-owned investment corporation Dubai ICD which falls under the ownership of Adriatic Marinas has agreed to finance the construction of a new hotel and residential-business project called Boka Place in Porto Montenegro. It’s being planned as a five-star hotel that will have 240 units and an estimated value of €43.67m. Adriatic Marinas expects to start construction by the end of this year, and finish it in the second quarter in 2023. Its business plan envisions a return on investment within eight years. Foreigners who buy condominium units in the project will be eligible to obtain Montenegrin citizenship as they will be considered co-investors.
