Biggest and Most Luxurious Project on the Montenegrin Coast Announced

Colliers International is exclusive consultant for Royal Montenegro Grand Resort.

Podgorica, Serbia and Montenegro, October 11, 2008 --( Colliers International Montenegro has announced that it will be the exclusive consultant for the biggest and most luxurious new project on the Montenegrin Riviera, Royal Montenegro Grand Resort. The project is so significant in size that it could help transform Montenegro into the new Monte Carlo.

Royal Montenegro Grand Resort will feature a 5-star +, 220-room hotel and conference center, a casino/nightclub, a mega-yacht marina club, spa, gym, villas, lodges and condominiums, as well as commercial developments including retail outlets, restaurants and cafes. In total the project is divided into four distinct zones and will cover some 66,000 m2.

Royal Montenegro Grand Resort will be constructed 8 km south of Budva and 4 km north of Petrovac, just 1km from Sveti Stefan, at Skocidjevojka, and will open in 2010. It will offer its clients an exclusive lifestyle with the ultimate levels of glamour and sophistication.

Royal Montenegro Grand Resort is being developed in partnership between Joud Real Estate Funds and Monte-Mena. Joud Funds is managed by Osoul Fund Management in Egypt, and has vast experience in sourcing, structuring, negotiating and closing deals successfully by capitalizing on solid partnerships with internationally renowned financial, legal and auditing firms. Osoul Group was established in 2005 and has grown into one of the most successful residential, leisure and commercial developers in the Middle East and North Africa region. Monte-Mena started operations in 2007 as part of the Osoul Group family of companies, it focuses on high–end tourist resorts and residential complexes concentrated along coastal areas of Montenegro.

Colliers International Montenegro in co-operation with Colliers Greece, is the exclusive consultant for the project with a full range of services in addition to sales. Now Colliers is opening sales of residential units – palatian residences, villas and condos. Palatial Residences, sized from 756 to 855 m2, will have their own private garden, swimming pool and Jacuzzi. Cascading Villas will be luxurious villas sized from 305 to 480 m2, while Sea Front Condos with breathtaking views will be available in two or three bedrooms, one or two levels at 150 m2 to 270 m2. They will all be constructed to the highest international standards and feature the greatest privacy and luxury.

Andreas Marambos, Managing Director for Colliers International Montenegro, concluded, “Royal Montenegro Grand Resort is a fabulous, landmark project that will transform Montenegro’s Riviera and play a major part in the future of Montenegro’s tourism industry.”

Colliers International Southeast Europe was named Property Consultant of the Year for the region in 2008 for the third straight year. It has eleven offices in six countries: Albania, Bulgaria, Croatia, Greece, Montenegro and Serbia, and performs selected assignments in Slovenia, Bosnia & Herzegovina, FYR of Macedonia, and Cyprus.

Colliers International Southeast Europe currently has 3,000,000 m2 of projects under exclusive representation. It is bigger than all three of its nearest competitors put together, and has averaged growth of 69% in the last five years per annum.

Colliers International is a worldwide affiliation of independently owned and operated companies.

Colliers International Southeast Europe
Christen Thomson
+ (385) 99 218 7603