Montenegro, anticipated to grow to be a member of the European Union in 2028, has caught the eye of the Turkish business world as investments within the nation have grown.
Over the previous decade, investments within the nation have strengthened, and Türkiye has risen to grow to be the third-largest investor in Montenegro.
Highlighting the numerous funding alternatives within the nation forward of its European Union accession, Ambassador to Podgorica Barış Kalkavan said that Türkiye is positioning itself as a pacesetter in these investments.
Kalkavan famous that there are greater than 10,000 registered Turkish corporations in Montenegro, starting from giant to medium and small enterprises. He added: “The annual revenue generated by these companies amounts to 85 million euros ($89.4 million), which is a very substantial figure for Montenegro.”
Kalkavan additionally talked about that they established the Turkish Chamber of Commerce (TURKCHAM) in Montenegro to assist Turkish corporations handle their operations extra successfully and to supply help in case of any points.
Drawing consideration to the truth that Montenegro has many benefits for Turkish traders, Kalkavan additional mentioned: “The first advantage is its location. It is right on the opening to Europe on the North-South-East-West line. If you consider the Mediterranean basin to the north of the Black Sea, Montenegro is right in the middle.”
“The Bar Port, the most important port in the country, is used by 14 different countries, from Hungary to Slovakia and Slovenia. This is the first country to become a member of the European Union. After entering the EU, the current opportunities will not exist. Therefore, we need to be fast and solid,” he defined.
Hotel funding
The newest funding transfer within the nation, the place the Turkish business world is accelerating its investments, got here from PMTR Group, the report additionally mentioned.
The firm, which made a TL 1.31 billion (36 million euros) housing and lodge funding within the metropolis of Bar in Montenegro, signed an settlement with Wyndham Group for this mission. The leasing and working processes of the three-block mission consisting of 261 flats, together with a 120-room lodge, one-, two- and three-bedroom flats, and a penthouse, might be carried out by Wyndham.
“We signed the 216 project in Fikirtepe, one of the most difficult urban transformation projects in Istanbul. In this project, which we implemented under very difficult conditions, we delivered the residences to their rightful owners in a short period of 18 months. After completing this investment, we accelerated our investments abroad and signed this project, which is the first Turkish investment in the city of Bar,” PMTR Group Board Chairperson Şemsettin Aydın mentioned.
Aydın additionally identified that Montenegro has lately grow to be a focus for Turkish traders and went on to say that the town of Bar “is an undiscovered treasure of this country.”
“Bar, which is a port city, is also the crossroads of the Balkans. Bar is 1.5 hours away from Europe and the Balkans by sea, land and air,” he mentioned.
Drawing consideration to the truth that the potential of the town of Bar has not but been found, he famous that Bar affords nice alternatives for traders because of this.
“A one-bedroom apartment starts from 100,000 euros. When similar projects in Türkiye are considered, they are very affordable. Because, while the return period of a housing investment in Türkiye is now 17-20 years, the return period of an investment here is 10-12 years. Thanks to our cooperation with Wyndham, we will be able to operate all the residences,” he famous.
Materials from Türkiye
Aydın, who said that the flats within the mission might be delivered to the traders with all their wants, from sofas to home equipment, carpets to curtains, mentioned: “We are bringing all the materials from Türkiye. For this project, we will import 10 million euros, approximately TL 400 million, from our country to Montenegro and contribute to our country’s economy.”
Moreover, he identified that Montenegro has a inhabitants of 680,000 and mentioned: “It receives 6 million tourists annually. Since the bed capacity in the region is insufficient, there is a serious demand for housing. Russians and Ukrainians are the ones who buy housing the most here. This is followed by Poles, Germans and Turks.”
Source: www.dailysabah.com