New airport proposed for Tivat Montenegro
In more exciting news for the area, the Montenegrin Government has proposed the building of a new airport to replace the current one at Tivat. The Montenegro Times has been reporting that the new airport is scheduled to be constructed and finished by 2017.
Phase I would involve an estimated cost of 22.6 million Euros and Phase II would require an extra 76 million Euros and would be completed by 2030. This funding will be partly met buy the European Investment Bank, with the Government proposing that the rest of the finance be provided through a Public Private Partnership, a method that was also used for the construction of the new terminal at Zagreb.
The current airport at Tivat is widely recognised as having one of the most challenging approaches in Europe, being located between hills and mountains in the Boka Kotorska Bay. Despite its difficult location there has not been a single plane accident since the airport opened.
Due to the rise in visitors to Montenegro, both property investors and tourists, Tivat airport is now facing accusations of overcrowding. The accelerated development of the real estate market in Montenegro, together with the appeal of the exclusive Porto Montenegro development, has led to a the airport being recognised as having one of the fastest growing passenger rates in the region and the Montenegrin Government hopes the proposed new airport will alleviate some of these issues.
To discuss any of our Montenegro investment opportunities please do not hesitate to contact us.
USA
UK
Istanbul
Montenegro
Solar Investments
